Insider Selling: Incyte Corporation (NASDAQ:INCY) EVP Sells 1,192 Shares of Stock

Incyte Corporation (NASDAQ:INCY - Get Free Report) EVP Barry P. Flannelly sold 1,192 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 37,630 shares of the company's stock, valued at $2,628,831.80. This trade represents a 3.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Incyte Trading Down 0.2%

Shares of NASDAQ:INCY traded down $0.14 during mid-day trading on Thursday, reaching $69.09. 313,298 shares of the company were exchanged, compared to its average volume of 1,942,052. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.04 and a quick ratio of 2.00. The firm has a market cap of $13.37 billion, a price-to-earnings ratio of 216.01, a P/E/G ratio of 0.57 and a beta of 0.68. The firm's 50-day simple moving average is $66.75 and its 200 day simple moving average is $66.65. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.01 by $0.15. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. During the same quarter last year, the company posted $0.64 EPS. The firm's revenue was up 19.5% compared to the same quarter last year. Equities research analysts forecast that Incyte Corporation will post 4.86 EPS for the current year.

Institutional Investors Weigh In On Incyte

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Incyte by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company's stock worth $1,210,868,000 after acquiring an additional 417,346 shares in the last quarter. AQR Capital Management LLC raised its stake in Incyte by 92.3% during 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. Geode Capital Management LLC raised its stake in Incyte by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock worth $278,346,000 after acquiring an additional 103,910 shares in the last quarter. LSV Asset Management raised its stake in Incyte by 4.9% during the 1st quarter. LSV Asset Management now owns 3,637,974 shares of the biopharmaceutical company's stock worth $220,279,000 after acquiring an additional 170,484 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Incyte by 4.0% during the 1st quarter. Invesco Ltd. now owns 3,168,750 shares of the biopharmaceutical company's stock worth $191,868,000 after acquiring an additional 120,543 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on INCY. Citigroup reaffirmed a "buy" rating on shares of Incyte in a report on Tuesday, June 3rd. Wells Fargo & Company upped 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. cut their price objective on shares of Incyte from $68.00 to $67.00 and set a "neutral" rating for the company in a report on Monday. Wall Street Zen upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley cut their price objective on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $74.47.

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.