Incyte Co. (NASDAQ:INCY) Insider Thomas Tray Sells 572 Shares of Stock

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 572 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Incyte Price Performance

INCY opened at $66.41 on Tuesday. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $70.36. The firm has a 50-day moving average of $64.03 and a 200 day moving average of $59.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92. The firm has a market cap of $14.91 billion, a P/E ratio of 20.12, a PEG ratio of 5.03 and a beta of 0.73.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 earnings per share. On average, research analysts expect that Incyte Co. will post 0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on INCY shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $67.00 target price on shares of Incyte in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price objective on shares of Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Guggenheim raised their price target on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research report on Monday. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.76.

Institutional Trading of Incyte

A number of large investors have recently bought and sold shares of INCY. Cape Investment Advisory Inc. purchased a new position in shares of Incyte during the 4th quarter valued at $25,000. MFA Wealth Advisors LLC bought a new stake in Incyte in the 2nd quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new stake in Incyte during the first quarter valued at about $28,000. Riverview Trust Co purchased a new stake in Incyte during the first quarter valued at about $29,000. Finally, Innealta Capital LLC bought a new position in Incyte during the second quarter worth about $32,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

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.