Steven Stein Sells 2,559 Shares of Incyte (NASDAQ:INCY) Stock

Incyte Corporation (NASDAQ:INCY) EVP Steven Stein sold 2,559 shares of Incyte stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $102.96, for a total value of $263,474.64. Following the completion of the sale, the executive vice president directly owned 100,327 shares in the company, valued at $10,329,667.92. This represents a 2.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Incyte Stock Performance

Shares of INCY stock opened at $100.46 on Friday. The company has a current ratio of 3.20, a quick ratio of 3.13 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $95.52 and a 200-day simple moving average of $82.10. The company has a market cap of $19.72 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 0.69 and a beta of 0.81. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $109.28.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.61. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 earnings per share. On average, equities analysts forecast that Incyte Corporation will post 4.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on INCY shares. Wall Street Zen upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Zacks Research downgraded shares of Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Truist Financial reissued a “hold” rating and set a $93.00 price target (up previously from $79.00) on shares of Incyte in a research note on Wednesday, October 29th. Royal Bank Of Canada raised their price objective on Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Incyte from $73.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Incyte has an average rating of “Hold” and an average price target of $93.85.

Institutional Investors Weigh In On Incyte

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Incyte by 0.7% during the second quarter. Vanguard Group Inc. now owns 20,135,393 shares of the biopharmaceutical company’s stock worth $1,371,220,000 after buying an additional 137,570 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Incyte by 21.8% during the second quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company’s stock valued at $558,519,000 after acquiring an additional 1,465,286 shares during the last quarter. Geode Capital Management LLC increased its position in Incyte by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 4,347,731 shares of the biopharmaceutical company’s stock worth $294,899,000 after purchasing an additional 139,740 shares in the last quarter. LSV Asset Management raised its stake in Incyte by 3.2% in the 3rd quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company’s stock valued at $338,061,000 after purchasing an additional 124,266 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Incyte by 7.3% in the 2nd quarter. Invesco Ltd. now owns 3,401,018 shares of the biopharmaceutical company’s stock valued at $231,609,000 after purchasing an additional 232,268 shares during the last quarter. Hedge funds and other 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.