Insider Selling: Incyte Co. (NASDAQ:INCY) EVP Sells 6,043 Shares of Stock

Incyte Co. (NASDAQ:INCY) EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Incyte Price Performance

Shares of INCY stock traded down $0.44 during trading on Tuesday, hitting $72.80. The company had a trading volume of 557,324 shares, compared to its average volume of 2,350,542. The stock’s 50-day moving average is $70.94 and its two-hundred day moving average is $65.34. The stock has a market capitalization of $14.02 billion, a price-to-earnings ratio of 523.18, a price-to-earnings-growth ratio of 8.60 and a beta of 0.69. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95.

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

Hedge Funds Weigh In On Incyte

Several institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC grew its position in Incyte by 28.0% during the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after acquiring an additional 779,243 shares during the last quarter. LSV Asset Management increased its holdings in Incyte by 0.5% during the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock valued at $167,911,000 after purchasing an additional 15,115 shares during the period. Pacer Advisors Inc. lifted its stake in Incyte by 17,460.4% in the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after acquiring an additional 2,676,851 shares during the period. AQR Capital Management LLC raised its holdings in Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Incyte during the 3rd quarter valued at about $156,611,000. 96.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price target 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. Citigroup increased their target price on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Incyte has a consensus rating of “Hold” and a consensus target price of $77.16.

Incyte Company Profile

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.