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

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 650 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the transaction, the insider now directly owns 23,312 shares of the company’s stock, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. 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 Friday, December 13th, Thomas Tray sold 650 shares of Incyte stock. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00.

Incyte Stock Down 2.7 %

INCY opened at $67.55 on Thursday. The company has a market cap of $13.01 billion, a price-to-earnings ratio of 482.53, a PEG ratio of 8.36 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The business’s fifty day moving average is $72.33 and its two-hundred day moving average is $66.49.

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

Institutional Investors Weigh In On Incyte

A number of large investors have recently bought and sold shares of the stock. Raymond James & Associates boosted its stake in shares of Incyte by 783.4% during the second quarter. Raymond James & Associates now owns 34,790 shares of the biopharmaceutical company’s stock valued at $2,109,000 after acquiring an additional 30,852 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Incyte by 4.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 25,213 shares of the biopharmaceutical company’s stock valued at $1,528,000 after buying an additional 997 shares during the last quarter. Dakota Wealth Management purchased a new position in shares of Incyte during the second quarter valued at approximately $1,063,000. Pallas Capital Advisors LLC purchased a new stake in Incyte in the 2nd quarter worth approximately $210,000. Finally, MFA Wealth Advisors LLC acquired a new position in Incyte in the 2nd quarter valued at $26,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on INCY. UBS Group started coverage on shares of Incyte in a research note on Tuesday. They issued a “neutral” rating and a $77.00 price objective for the company. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Tuesday, November 19th. Wolfe Research initiated coverage on Incyte in a research report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 price target on the stock. Royal Bank of Canada increased their price objective on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company lifted their target price on shares of Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Incyte currently has an average rating of “Hold” and a consensus price target of $76.18.

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.