Incyte (NASDAQ:INCY) EVP Sells $1,184,063.92 in Stock

Incyte Corporation (NASDAQ:INCY) EVP Mohamed Khairie Issa sold 10,856 shares of Incyte stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the completion of the sale, the executive vice president owned 66,132 shares in the company, valued at approximately $7,213,017.24. This trade represents a 14.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Incyte Price Performance

INCY stock traded down $4.65 during mid-day trading on Thursday, reaching $105.92. The company’s stock had a trading volume of 2,577,375 shares, compared to its average volume of 3,003,258. 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 company’s 50 day moving average is $101.57 and its two-hundred day moving average is $87.69. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $112.29. The stock has a market cap of $20.79 billion, a PE ratio of 17.74, a P/E/G ratio of 0.64 and a beta of 0.82.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, beating the consensus estimate of $1.65 by $0.61. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company posted $1.07 EPS. The company’s quarterly revenue was up 20.0% on a year-over-year basis. Equities research analysts expect that Incyte Corporation will post 4.86 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Incyte during the third quarter worth approximately $26,000. Root Financial Partners LLC acquired a new stake in Incyte during the third quarter worth $28,000. Quent Capital LLC purchased a new position in shares of Incyte in the third quarter valued at approximately $30,000. FNY Investment Advisers LLC acquired a new stake in Incyte in the second quarter valued at $27,000. Finally, MUFG Securities EMEA plc purchased a new position in Incyte during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

INCY has been the subject of a number of recent analyst reports. Piper Sandler boosted their target price on shares of Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Guggenheim raised Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Incyte in a report on Wednesday, October 8th. Wall Street Zen raised Incyte from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Finally, Wells Fargo & Company lifted their price target on shares of Incyte from $97.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $99.53.

About Incyte

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.