Insider Selling: Incyte Corporation (NASDAQ:INCY) EVP Sells 8,617 Shares of Stock

Incyte Corporation (NASDAQ:INCY - Get Free Report) EVP Vijay K. Iyengar sold 8,617 shares of Incyte stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total transaction of $587,248.55. Following the transaction, the executive vice president owned 37,701 shares in the company, valued at approximately $2,569,323.15. The trade was a 18.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Incyte Stock Up 1.6%

Shares of INCY traded up $1.05 during trading hours on Wednesday, hitting $68.72. 1,927,153 shares of the company were exchanged, compared to its average volume of 1,961,300. The company has a market cap of $13.30 billion, a PE ratio of 214.76, a PEG ratio of 0.57 and a beta of 0.68. The firm's 50 day moving average is $65.94 and its 200-day moving average is $66.67. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $83.95. 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 (NASDAQ:INCY - Get Free Report) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $996.17 million. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The business's revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. On average, equities research analysts forecast that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Sivia Capital Partners LLC lifted its position in Incyte by 147.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,077 shares of the biopharmaceutical company's stock worth $822,000 after acquiring an additional 7,206 shares during the last quarter. Krilogy Financial LLC increased its holdings in shares of Incyte by 61.2% during the 2nd quarter. Krilogy Financial LLC now owns 17,883 shares of the biopharmaceutical company's stock worth $1,218,000 after purchasing an additional 6,792 shares during the period. Czech National Bank increased its holdings in shares of Incyte by 6.4% during the 2nd quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company's stock worth $2,674,000 after purchasing an additional 2,378 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Incyte by 26.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,448 shares of the biopharmaceutical company's stock worth $99,000 after purchasing an additional 299 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of Incyte by 8.9% during the 2nd quarter. Parallel Advisors LLC now owns 4,832 shares of the biopharmaceutical company's stock worth $329,000 after purchasing an additional 393 shares during the period. Institutional investors and hedge funds own 96.97% of the company's stock.

Analysts Set New Price Targets

INCY has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on shares of Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their target price on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Royal Bank Of Canada set a $67.00 target price on shares of Incyte and gave the company a "sector perform" rating in a research note on Monday, June 23rd. Morgan Stanley decreased their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, March 24th. Finally, Wall Street Zen raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $74.53.

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.