Barry P. Flannelly Sells 3,680 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now directly owns 58,042 shares in the company, valued at $4,624,786.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Incyte Price Performance

Shares of NASDAQ INCY opened at $83.38 on Friday. The company has a fifty day moving average price of $67.48 and a 200 day moving average price of $62.79. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The firm has a market cap of $16.06 billion, a PE ratio of 595.61, a PEG ratio of 9.33 and a beta of 0.71. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 earnings per share. Research analysts predict that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on INCY shares. Morgan Stanley increased their price objective on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. Guggenheim increased their price objective on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Incyte has an average rating of “Hold” and an average price target of $76.74.

Institutional Trading of Incyte

A number of hedge funds and other institutional investors have recently made changes to their positions in INCY. MFA Wealth Advisors LLC acquired a new stake in Incyte in the 2nd quarter valued at $26,000. Innealta Capital LLC acquired a new stake in shares of Incyte in the second quarter valued at about $32,000. Itau Unibanco Holding S.A. bought a new stake in Incyte during the second quarter worth about $36,000. Deseret Mutual Benefit Administrators boosted its position in Incyte by 37.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 164 shares during the last quarter. Finally, Cromwell Holdings LLC grew its stake in Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 283 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

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.