Barry P. Flannelly Sells 10,903 Shares of Incyte Corporation (NASDAQ:INCY) Stock

Incyte Corporation (NASDAQ:INCY - Get Free Report) EVP Barry P. Flannelly sold 10,903 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total transaction of $743,039.45. Following the sale, the executive vice president owned 39,744 shares of the company's stock, valued at approximately $2,708,553.60. This represents a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Incyte Stock Up 2.4%

Shares of NASDAQ:INCY traded up $1.62 during trading on Thursday, reaching $70.34. 1,390,162 shares of the stock traded hands, compared to its average volume of 1,959,025. The stock has a 50-day moving average of $65.94 and a two-hundred day moving average of $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. The stock has a market cap of $13.62 billion, a P/E ratio of 219.82, a price-to-earnings-growth ratio of 0.57 and a beta of 0.68.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on INCY. JPMorgan Chase & Co. decreased their price target 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. Stifel Nicolaus raised shares of Incyte from a "hold" rating to a "buy" rating and increased their price target for the stock from $75.00 to $107.00 in a research note on Monday, June 16th. Wall Street Zen raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada set a $67.00 price target on shares of Incyte and gave the stock a "sector perform" rating in a research note on Monday, June 23rd. Finally, Wells Fargo & Company increased their price target on shares of Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $74.53.

Institutional Inflows and Outflows

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