Incyte Co. (NASDAQ:INCY) Insider Thomas Tray Sells 650 Shares of Stock

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 650 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00. Following the sale, the insider now directly owns 23,962 shares of the company’s stock, valued at $1,692,675.68. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Thomas Tray also recently made the following trade(s):

• On Monday, December 16th, Thomas Tray sold 650 shares of Incyte stock. The shares were sold at an average price of $69.31, for a total value of $45,051.50.

Incyte Stock Down 0.6 %

INCY stock opened at $69.40 on Wednesday. The business’s 50-day moving average price is $72.29 and its 200-day moving average price is $66.48. The stock has a market cap of $13.37 billion, a P/E ratio of 495.71, a PEG ratio of 8.36 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 twelve month low of $50.35 and a twelve month high of $83.95.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. On average, equities research analysts forecast that Incyte Co. will post 0.4 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INCY. JPMorgan Chase & Co. boosted their price target on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. Guggenheim boosted 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. Citigroup lifted their target price on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Incyte currently has an average rating of “Hold” and an average target price of $76.18.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of INCY. MFA Wealth Advisors LLC bought a new stake in Incyte during the second quarter valued at about $26,000. Brooklyn Investment Group purchased a new position in Incyte in the 3rd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte in the 3rd quarter worth approximately $33,000. Innealta Capital LLC bought a new position in Incyte in the 2nd quarter worth approximately $32,000. Finally, Cromwell Holdings LLC grew its holdings in Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 283 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

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.