Steven H. Stein Sells 12,352 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCY) EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $72.53 on Friday. The business’s 50-day moving average price is $71.86 and its two-hundred day moving average price is $68.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a market capitalization of $13.97 billion, a P/E ratio of 518.11, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.08 billion. During the same quarter last year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. Analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INCY. BMO Capital Markets reiterated an “underperform” rating and set a $52.00 price target (up previously from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Morgan Stanley boosted their price target on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their price target on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $75.71.

Institutional Trading of Incyte

Several large investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in shares of Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after acquiring an additional 1,101,041 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Incyte during the 3rd quarter worth about $156,611,000. Mizuho Securities USA LLC boosted its stake in shares of Incyte by 13,814.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after acquiring an additional 1,985,726 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Incyte by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock worth $106,369,000 after acquiring an additional 364,169 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Incyte by 5.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,265,966 shares of the biopharmaceutical company’s stock worth $83,680,000 after acquiring an additional 70,596 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

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.