Incyte (NASDAQ:INCY) Insider Sells $58,950.00 in Stock

Incyte Corporation (NASDAQ:INCY) insider Thomas Tray sold 600 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $98.25, for a total transaction of $58,950.00. Following the completion of the transaction, the insider directly owned 22,973 shares of the company’s stock, valued at approximately $2,257,097.25. This trade represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, December 19th, Thomas Tray sold 2,774 shares of Incyte stock. The stock was sold at an average price of $100.00, for a total transaction of $277,400.00.

Incyte Trading Down 0.6%

Shares of NASDAQ INCY opened at $100.27 on Thursday. The stock has a market capitalization of $19.68 billion, a P/E ratio of 16.79, a PEG ratio of 0.69 and a beta of 0.81. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $109.28. The business’s 50 day moving average is $99.08 and its two-hundred day moving average is $85.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 3.13.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.61. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company earned $1.07 EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, research analysts expect that Incyte Corporation will post 4.86 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INCY. Wall Street Zen raised Incyte from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. Mizuho set a $121.00 price target on Incyte and gave the company an “outperform” rating in a research note on Monday, December 8th. Piper Sandler raised their price objective on Incyte from $82.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, Morgan Stanley upped their target price on Incyte from $86.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, December 8th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $99.79.

Institutional Investors Weigh In On Incyte

Several hedge funds have recently bought and sold shares of INCY. Allworth Financial LP increased its position in shares of Incyte by 107.1% in the third quarter. Allworth Financial LP now owns 3,564 shares of the biopharmaceutical company’s stock valued at $302,000 after buying an additional 1,843 shares in the last quarter. Swiss Life Asset Management Ltd increased its holdings in Incyte by 180.8% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 85,480 shares of the biopharmaceutical company’s stock worth $7,250,000 after acquiring an additional 55,039 shares in the last quarter. Groupama Asset Managment raised its position in Incyte by 1.4% during the third quarter. Groupama Asset Managment now owns 73,075 shares of the biopharmaceutical company’s stock worth $6,197,000 after acquiring an additional 987 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Incyte by 153.8% during the third quarter. CIBC Private Wealth Group LLC now owns 726 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 440 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Incyte in the third quarter valued at about $1,921,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.