Incyte Co. (NASDAQ:INCY) Insider Thomas Tray Sells 572 Shares

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 572 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Incyte Stock Up 4.1 %

NASDAQ:INCY traded up $2.61 during trading hours on Monday, hitting $66.17. 1,045,369 shares of the stock traded hands, compared to its average volume of 2,430,821. The firm has a market cap of $14.86 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 5.03 and a beta of 0.73. The firm has a 50 day moving average price of $63.87 and a 200 day moving average price of $59.55. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $70.36.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company posted $0.77 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. Equities research analysts anticipate that Incyte Co. will post 0.67 earnings per share for the current year.

Institutional Trading of Incyte

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Incyte by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock worth $1,294,120,000 after buying an additional 196,440 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after acquiring an additional 779,243 shares in the last quarter. LSV Asset Management boosted its position in Incyte by 0.5% during the second quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock valued at $167,911,000 after purchasing an additional 15,115 shares during the last quarter. Pacer Advisors Inc. boosted its position in Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after purchasing an additional 2,676,851 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after purchasing an additional 1,101,041 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Monday. BMO Capital Markets reaffirmed an “underperform” rating and set a $48.00 target price (down previously from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. Guggenheim boosted their price target on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank of Canada reissued a “sector perform” rating and issued a $67.00 price target on shares of Incyte in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.76.

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.