Thomas Tray Sells 650 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 650 shares of Incyte stock in a transaction 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 transaction, the insider now owns 23,312 shares in the company, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 Price Performance

Shares of NASDAQ INCY traded down $0.50 during mid-day trading on Tuesday, reaching $69.30. The company had a trading volume of 504,475 shares, compared to its average volume of 2,331,509. The company has a 50-day moving average price of $72.22 and a two-hundred day moving average price of $66.40. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The stock has a market cap of $13.35 billion, a PE ratio of 494.64, a P/E/G ratio of 8.36 and a beta of 0.69. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 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 firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.91 EPS. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, equities analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current year.

Institutional Trading of Incyte

Institutional investors have recently made changes to their positions in the business. Greenwood Capital Associates LLC bought a new stake in Incyte during the 3rd quarter worth approximately $433,000. Orion Portfolio Solutions LLC acquired a new stake in Incyte in the 3rd quarter valued at $770,000. Tri Ri Asset Management Corp acquired a new stake in Incyte in the third quarter valued at $3,292,000. Andra AP fonden lifted its position in shares of Incyte by 35.2% in the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock valued at $15,022,000 after buying an additional 64,500 shares during the last quarter. Finally, Cypress Capital Group acquired a new position in shares of Incyte in the third quarter valued at $971,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on INCY shares. BMO Capital Markets restated an “underperform” rating and set a $52.00 price objective (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. Guggenheim upped 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, September 16th. Oppenheimer lifted their target price on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Citigroup raised their price objective on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.