Incyte Co. (NASDAQ:INCY) EVP Steven H. Stein Sells 8,357 Shares

Incyte Co. (NASDAQ:INCY) EVP Steven H. Stein sold 8,357 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $87.96, for a total transaction of $735,081.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

INCY stock traded up $1.08 during trading on Thursday, reaching $81.31. 616,940 shares of the company were exchanged, compared to its average volume of 1,371,823. Incyte Co. has a twelve month low of $57.00 and a twelve month high of $89.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.22 and a quick ratio of 5.21. The company has a market capitalization of $17.24 billion, a P/E ratio of 99.16 and a beta of 1.17. The business’s 50-day moving average is $82.28.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.29. The company had revenue of $497.86 million for the quarter, compared to analyst estimates of $488.00 million. Incyte had a net margin of 12.66% and a return on equity of 13.28%. The company’s quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. As a group, research analysts forecast that Incyte Co. will post 1.78 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of INCY. Metropolitan Life Insurance Co. NY raised its holdings in Incyte by 0.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 34,590 shares of the biopharmaceutical company’s stock worth $2,200,000 after buying an additional 120 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Incyte by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,688 shares of the biopharmaceutical company’s stock worth $489,000 after buying an additional 135 shares during the last quarter. ETF Managers Group LLC raised its holdings in shares of Incyte by 9.8% in the first quarter. ETF Managers Group LLC now owns 1,717 shares of the biopharmaceutical company’s stock valued at $148,000 after purchasing an additional 153 shares during the last quarter. Grandfield & Dodd LLC raised its holdings in shares of Incyte by 2.1% in the fourth quarter. Grandfield & Dodd LLC now owns 8,137 shares of the biopharmaceutical company’s stock valued at $517,000 after purchasing an additional 169 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Incyte by 2.2% during the first quarter. Janney Montgomery Scott LLC now owns 10,157 shares of the biopharmaceutical company’s stock worth $874,000 after buying an additional 221 shares during the last quarter. 90.53% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have issued reports on INCY. Cowen restated a “buy” rating on shares of Incyte in a report on Monday, May 27th. Zacks Investment Research raised shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Monday, April 29th. Credit Suisse Group initiated coverage on shares of Regeneron Pharmaceuticals in a research report on Monday, May 20th. They issued a “neutral” rating and a $336.00 price target for the company. BidaskClub lowered shares of Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 13th. Finally, Barclays set a $24.00 price target on shares of Orion Engineered Carbons and gave the stock a “hold” rating in a research report on Friday, May 3rd. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Incyte has a consensus rating of “Buy” and an average target price of $88.00.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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