Incyte (NASDAQ:INCY) EVP Lee Heeson Sells 3,074 Shares

Incyte Corporation (NASDAQ:INCY) EVP Lee Heeson sold 3,074 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the sale, the executive vice president directly owned 29,241 shares of the company’s stock, valued at $2,749,238.82. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Incyte Trading Up 2.7%

Shares of Incyte stock traded up $2.78 during trading hours on Wednesday, hitting $105.70. The company’s stock had a trading volume of 2,739,224 shares, compared to its average volume of 1,925,100. The firm has a fifty day moving average of $87.02 and a 200-day moving average of $75.59. The stock has a market cap of $20.75 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 0.70 and a beta of 0.73. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $106.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 3.20.

Institutional Trading of Incyte

Several institutional investors and hedge funds have recently made changes to their positions in INCY. Vanguard Group Inc. lifted its stake in shares of Incyte by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 20,135,393 shares of the biopharmaceutical company’s stock worth $1,371,220,000 after purchasing an additional 137,570 shares during the period. AQR Capital Management LLC boosted its position in Incyte by 21.8% during the 2nd quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company’s stock worth $558,519,000 after purchasing an additional 1,465,286 shares during the period. Geode Capital Management LLC lifted its position in Incyte by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 4,347,731 shares of the biopharmaceutical company’s stock worth $294,899,000 after acquiring an additional 139,740 shares in the last quarter. LSV Asset Management grew its holdings in Incyte by 6.2% during the 2nd quarter. LSV Asset Management now owns 3,861,831 shares of the biopharmaceutical company’s stock valued at $262,991,000 after purchasing an additional 223,857 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Incyte by 7.3% during the second quarter. Invesco Ltd. now owns 3,401,018 shares of the biopharmaceutical company’s stock worth $231,609,000 after acquiring an additional 232,268 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Oppenheimer downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th. BMO Capital Markets reaffirmed an “underperform” rating and issued a $60.00 target price (up from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. Zacks Research upgraded shares of Incyte from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Wall Street Zen upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Guggenheim upgraded Incyte from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.77.

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.