Incyte Co. (NASDAQ:INCY) EVP Sells $1,042,090.83 in Stock

Incyte Co. (NASDAQ:INCY) EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,914,561.36. The trade was a 35.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Incyte Stock Up 0.4 %

INCY opened at $73.50 on Friday. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The business has a 50 day moving average price of $71.77 and a two-hundred day moving average price of $69.84. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a market cap of $14.22 billion, a PE ratio of 272.23, a P/E/G ratio of 0.41 and a beta of 0.70.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, research analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup decreased their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. UBS Group initiated coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Finally, StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $75.25.

Institutional Investors Weigh In On Incyte

A number of hedge funds have recently added to or reduced their stakes in INCY. CWA Asset Management Group LLC purchased a new stake in shares of Incyte in the fourth quarter valued at approximately $1,933,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Incyte during the 3rd quarter worth $770,000. Greenwood Capital Associates LLC acquired a new position in shares of Incyte during the 3rd quarter worth $433,000. Tri Ri Asset Management Corp purchased a new position in shares of Incyte in the 3rd quarter valued at about $3,292,000. Finally, Cypress Capital Group acquired a new stake in shares of Incyte in the third quarter valued at about $971,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

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.