Barry P. Flannelly Sells 19,807 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Incyte Trading Up 0.4 %

INCY stock opened at $60.58 on Friday. The firm has a fifty day moving average price of $70.78 and a 200 day moving average price of $70.13. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The firm has a market cap of $11.72 billion, a PE ratio of 224.38, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

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

Institutional Investors Weigh In On Incyte

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. Quintet Private Bank Europe S.A. bought a new position in shares of Incyte during the 4th quarter valued at approximately $26,000. Global X Japan Co. Ltd. boosted its stake in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares during the period. Brooklyn Investment Group bought a new position in Incyte during the third quarter valued at $30,000. R Squared Ltd purchased a new stake in shares of Incyte in the fourth quarter valued at $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Incyte in the 3rd quarter worth about $33,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INCY has been the subject of a number of analyst reports. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Stifel Nicolaus raised their target price on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Truist Financial lowered their price target on shares of Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday. William Blair cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Citigroup lowered their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.13.

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.