Incyte Corporation (NASDAQ:INCY) EVP Barry P. Flannelly Sells 1,192 Shares

Incyte Corporation (NASDAQ:INCY - Get Free Report) EVP Barry P. Flannelly sold 1,192 shares of Incyte stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total transaction of $83,273.12. Following the sale, the executive vice president directly owned 37,630 shares of the company's stock, valued at $2,628,831.80. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Incyte Stock Performance

Shares of NASDAQ:INCY traded down $1.08 during trading on Friday, reaching $67.86. 1,556,792 shares of the stock were exchanged, compared to its average volume of 1,942,271. The company has a current ratio of 2.04, a quick ratio of 2.00 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $83.95. The stock has a 50-day moving average price of $67.12 and a 200-day moving average price of $66.65. The firm has a market cap of $13.14 billion, a PE ratio of 212.07, a PEG ratio of 0.58 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last posted 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. 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 previous year, the firm posted $0.64 earnings per share. The company's revenue was up 19.5% on a year-over-year basis. Research analysts expect that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Analysts Set New Price Targets

INCY has been the topic of several research reports. Citigroup restated a "buy" rating on shares of Incyte in a report on Tuesday, June 3rd. Stifel Nicolaus upgraded shares of Incyte from a "hold" rating to a "buy" rating and increased their price objective for the stock from $75.00 to $107.00 in a research note on Monday, June 16th. 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. Wall Street Zen upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Truist Financial upped their price objective on shares of Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $74.47.

Institutional Investors Weigh In On Incyte

A number of institutional investors and hedge funds have recently made changes to their positions in INCY. Assenagon Asset Management S.A. grew its position in shares of Incyte by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company's stock valued at $612,000 after acquiring an additional 147 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in shares of Incyte by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company's stock valued at $1,410,000 after acquiring an additional 150 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Incyte by 10.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,706 shares of the biopharmaceutical company's stock valued at $116,000 after acquiring an additional 156 shares during the last quarter. Advisory Alpha LLC raised its position in shares of Incyte by 2.1% during the 1st quarter. Advisory Alpha LLC now owns 8,056 shares of the biopharmaceutical company's stock valued at $488,000 after buying an additional 166 shares in the last quarter. Finally, Bank of Nova Scotia raised its position in shares of Incyte by 0.8% during the 4th quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company's stock valued at $1,498,000 after buying an additional 171 shares in 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.