Incyte Co. (NASDAQ:INCY) EVP Sells $32,301.72 in Stock

Incyte Co. (NASDAQ:INCY) EVP Dashyant Dhanak sold 396 shares of the business’s stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $81.57, for a total value of $32,301.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NASDAQ INCY opened at $81.38 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.56 and a quick ratio of 3.53. The stock’s fifty day moving average price is $80.22 and its two-hundred day moving average price is $85.97. Incyte Co. has a one year low of $75.52 and a one year high of $110.36. The firm has a market cap of $17.89 billion, a price-to-earnings ratio of -51.83, a P/E/G ratio of 0.98 and a beta of 0.96.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Monday, February 8th. The biopharmaceutical company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.30. The firm had revenue of $788.50 million for the quarter, compared to analyst estimates of $654.08 million. Incyte had a negative return on equity of 13.66% and a negative net margin of 13.62%. The company’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 EPS. On average, equities analysts anticipate that Incyte Co. will post -1.45 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in INCY. Norges Bank bought a new stake in shares of Incyte during the 4th quarter valued at $163,298,000. Price T Rowe Associates Inc. MD lifted its position in shares of Incyte by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,594,682 shares of the biopharmaceutical company’s stock valued at $2,835,085,000 after acquiring an additional 1,681,177 shares during the period. BlackRock Inc. lifted its position in shares of Incyte by 4.4% during the 4th quarter. BlackRock Inc. now owns 17,808,827 shares of the biopharmaceutical company’s stock valued at $1,549,010,000 after acquiring an additional 753,010 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Incyte by 6,235.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 563,128 shares of the biopharmaceutical company’s stock valued at $48,981,000 after acquiring an additional 554,239 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of Incyte by 509.4% during the 4th quarter. Canada Pension Plan Investment Board now owns 366,171 shares of the biopharmaceutical company’s stock valued at $31,850,000 after acquiring an additional 306,084 shares during the period. Hedge funds and other institutional investors own 91.37% of the company’s stock.

Several equities research analysts have commented on the company. SVB Leerink cut Incyte from a “market perform” rating to an “underperform” rating and cut their target price for the company from $89.00 to $70.00 in a research note on Wednesday, February 10th. Guggenheim raised Incyte from a “neutral” rating to a “buy” rating in a research report on Monday, January 4th. TheStreet lowered Incyte from a “b-” rating to a “c” rating in a research report on Monday, March 15th. Morgan Stanley lowered their price target on Incyte from $93.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Truist began coverage on Incyte in a research report on Thursday, January 7th. They set a “buy” rating and a $120.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $101.88.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor for the treatment of adults; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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