Insider Selling: Incyte Corporation (NASDAQ:INCY) EVP Sells 3,706 Shares of Stock

Incyte Corporation (NASDAQ:INCY - Get Free Report) EVP Steven H. Stein sold 3,706 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $67.94, for a total value of $251,785.64. Following the transaction, the executive vice president directly owned 102,886 shares in the company, valued at $6,990,074.84. This represents a 3.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Incyte Stock Up 0.1%

Shares of INCY traded up $0.05 during trading hours on Friday, hitting $70.54. The company had a trading volume of 752,138 shares, compared to its average volume of 1,857,873. The company has a current ratio of 2.04, a quick ratio of 2.00 and a debt-to-equity ratio of 0.01. The company's fifty day moving average price is $67.75 and its two-hundred day moving average price is $66.63. The company has a market capitalization of $13.65 billion, a PE ratio of 220.51, a price-to-earnings-growth ratio of 0.60 and a beta of 0.68. Incyte Corporation has a one year low of $53.56 and a one year high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The company's revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts forecast that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Incyte by 2.1% during the first quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company's stock worth $1,210,868,000 after buying an additional 417,346 shares during the period. AQR Capital Management LLC boosted its position in shares of Incyte by 92.3% during the first quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company's stock worth $405,787,000 after buying an additional 3,233,356 shares during the period. Geode Capital Management LLC boosted its position in shares of Incyte by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock worth $278,346,000 after buying an additional 103,910 shares during the period. LSV Asset Management boosted its position in shares of Incyte by 4.9% during the first quarter. LSV Asset Management now owns 3,637,974 shares of the biopharmaceutical company's stock worth $220,279,000 after buying an additional 170,484 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Incyte by 4.0% during the first quarter. Invesco Ltd. now owns 3,168,750 shares of the biopharmaceutical company's stock worth $191,868,000 after buying an additional 120,543 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Incyte from $68.00 to $67.00 and set a "neutral" rating on the stock in a research note on Monday, July 14th. Truist Financial lifted their price target on Incyte from $72.00 to $73.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. Wells Fargo & Company lifted their price target on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Citigroup restated a "buy" rating on shares of Incyte in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $74.47.

Incyte Company Profile

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.