Incyte Corporation (NASDAQ:INCY) EVP Vijay K. Iyengar Sells 1,177 Shares

Incyte Corporation (NASDAQ:INCY - Get Free Report) EVP Vijay K. Iyengar sold 1,177 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total value of $82,225.22. Following the sale, the executive vice president directly owned 35,929 shares in the company, valued at $2,509,999.94. This trade represents a 3.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Incyte Stock Down 0.3%

Shares of INCY stock traded down $0.20 during trading hours on Friday, reaching $68.74. The company had a trading volume of 210,771 shares, compared to its average volume of 1,937,524. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.00 and a current ratio of 2.04. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $83.95. The company has a market capitalization of $13.31 billion, a P/E ratio of 214.65, a price-to-earnings-growth ratio of 0.57 and a beta of 0.68. The stock's fifty day simple moving average is $66.94 and its 200 day simple moving average is $66.66.

Incyte (NASDAQ:INCY - Get Free Report) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $996.17 million. During the same quarter last year, the firm earned $0.64 earnings per share. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, sell-side analysts expect that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on INCY. UBS Group reaffirmed a "neutral" rating and set a $61.00 price target on shares of Incyte in a research report on Tuesday, June 3rd. Citigroup reaffirmed a "buy" rating on shares of Incyte in a research report on Tuesday, June 3rd. Wells Fargo & Company lifted their price target on Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Truist Financial lifted their price target on Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. Finally, Morgan Stanley cut their price target on Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $74.47.

Institutional Investors Weigh In On Incyte

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its position in shares of Incyte by 92.3% in the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company's stock worth $405,787,000 after acquiring an additional 3,233,356 shares in the last quarter. Norges Bank bought a new stake in shares of Incyte in the 4th quarter worth approximately $121,890,000. Acadian Asset Management LLC lifted its holdings in shares of Incyte by 65.6% in the 1st quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company's stock worth $152,062,000 after purchasing an additional 994,609 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Incyte by 861.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 891,659 shares of the biopharmaceutical company's stock worth $61,587,000 after purchasing an additional 798,877 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Incyte by 581.3% in the 1st quarter. Victory Capital Management Inc. now owns 813,140 shares of the biopharmaceutical company's stock worth $49,236,000 after purchasing an additional 693,782 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

About Incyte

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.