Barry P. Flannelly Sells 19,807 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCY - Get Free Report) EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Incyte Price Performance

INCY stock traded up $1.34 during mid-day trading on Friday, hitting $61.92. The company had a trading volume of 4,332,207 shares, compared to its average volume of 2,260,600. The company has a 50-day moving average price of $70.61 and a 200 day moving average price of $70.11. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 229.34, a P/E/G ratio of 0.41 and a beta of 0.76. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. On average, research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

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Institutional Trading of Incyte

Several hedge funds have recently made changes to their positions in INCY. Point72 Asset Management L.P. purchased a new stake in shares of Incyte during the 3rd quarter valued at about $156,611,000. Norges Bank purchased a new stake in Incyte in the 4th quarter worth about $121,890,000. AQR Capital Management LLC raised its position in Incyte by 29.7% in the 4th quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock worth $241,519,000 after purchasing an additional 801,090 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Incyte by 861.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 891,659 shares of the biopharmaceutical company's stock worth $61,587,000 after purchasing an additional 798,877 shares during the period. Finally, Sound Shore Management Inc. CT raised its position in Incyte by 98.4% in the 4th quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company's stock worth $82,959,000 after purchasing an additional 595,741 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on INCY. UBS Group began coverage on shares of Incyte in a report on Tuesday, December 17th. They set a "neutral" rating and a $77.00 target price for the company. Truist Financial cut their target price on shares of Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a research report on Tuesday. William Blair downgraded shares of Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday. Citigroup cut their price objective on shares of Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $75.13.

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.