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

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

Incyte Trading Down 3.2 %

Shares of INCY stock opened at $60.00 on Wednesday. The firm’s 50-day simple moving average is $71.29 and its 200-day simple moving average is $70.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The firm has a market cap of $11.61 billion, a P/E ratio of 222.23, a PEG ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, equities analysts forecast that Incyte Co. will post 4.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INCY. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. UBS Group began coverage on shares of Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. Royal Bank of Canada cut their price objective on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus increased their target price on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and an average target price of $75.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. Retirement Systems of Alabama increased its position in shares of Incyte by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock worth $2,391,000 after acquiring an additional 139 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in Incyte by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company’s stock valued at $1,410,000 after purchasing an additional 150 shares during the last quarter. Trust Point Inc. grew its stake in Incyte by 5.0% during the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock valued at $227,000 after purchasing an additional 156 shares in the last quarter. Bank of Nova Scotia increased its holdings in Incyte by 0.8% during the 4th quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company’s stock worth $1,498,000 after purchasing an additional 171 shares during the last quarter. Finally, Mather Group LLC. raised its position in shares of Incyte by 26.4% in the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

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.