Incyte Corporation (NASDAQ:INCY) EVP Steven H. Stein Sells 14,952 Shares

Incyte Corporation (NASDAQ:INCY - Get Free Report) EVP Steven H. Stein sold 14,952 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $68.47, for a total value of $1,023,763.44. Following the completion of the sale, the executive vice president owned 97,466 shares of the company's stock, valued at approximately $6,673,497.02. This trade represents a 13.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Incyte Stock Down 1.6%

Incyte stock traded down $1.08 during midday trading on Friday, reaching $67.86. The stock had a trading volume of 1,556,792 shares, compared to its average volume of 1,942,271. The stock has a market capitalization of $13.14 billion, a P/E ratio of 212.07, a price-to-earnings-growth ratio of 0.58 and a beta of 0.68. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $83.95. The firm's fifty day simple moving average is $66.94 and its 200-day simple moving average is $66.66. 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 issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. During the same period in the previous year, the company posted $0.64 EPS. The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, analysts expect that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Institutional Trading of Incyte

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted 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 acquiring an additional 3,233,356 shares during the period. Norges Bank acquired a new stake in Incyte during the 4th quarter worth about $121,890,000. Robeco Institutional Asset Management B.V. grew its holdings in Incyte by 71.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,386,311 shares of the biopharmaceutical company's stock worth $162,508,000 after acquiring an additional 995,204 shares during the period. Acadian Asset Management LLC boosted 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 worth $152,062,000 after purchasing an additional 994,609 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted 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 worth $61,587,000 after purchasing an additional 798,877 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Truist Financial raised their price target on Incyte from $72.00 to $73.00 and gave the company a "hold" rating in a report on Tuesday, May 27th. Morgan Stanley decreased their price target on Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, March 24th. Citigroup reiterated a "buy" rating on shares of Incyte in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company raised their price target on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Incyte currently 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.