Insider Selling: Incyte Co. (NASDAQ:INCY) EVP Sells 1,423 Shares of Stock

Incyte Co. (NASDAQ:INCY) EVP Maria E. Pasquale sold 1,423 shares of the firm’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of $100.00, for a total transaction of $142,300.00. Following the completion of the transaction, the executive vice president now directly owns 25,084 shares of the company’s stock, valued at $2,508,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Maria E. Pasquale also recently made the following trade(s):

  • On Monday, April 6th, Maria E. Pasquale sold 1,842 shares of Incyte stock. The shares were sold at an average price of $85.00, for a total transaction of $156,570.00.

NASDAQ INCY opened at $105.95 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.38 and a current ratio of 3.41. The company has a market capitalization of $22.78 billion, a price-to-earnings ratio of -60.54 and a beta of 1.05. The company’s 50-day simple moving average is $97.81 and its two-hundred day simple moving average is $86.23. Incyte Co. has a one year low of $62.48 and a one year high of $110.25.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($2.86) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($3.17). The business had revenue of $568.51 million for the quarter, compared to the consensus estimate of $553.24 million. Incyte had a negative net margin of 16.87% and a negative return on equity of 12.81%. Incyte’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 earnings per share. Equities analysts expect that Incyte Co. will post -1.29 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in INCY. Norges Bank purchased a new stake in shares of Incyte during the 4th quarter worth $178,921,000. Renaissance Technologies LLC raised its holdings in Incyte by 31.3% in the fourth quarter. Renaissance Technologies LLC now owns 3,601,003 shares of the biopharmaceutical company’s stock worth $314,440,000 after purchasing an additional 857,383 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Incyte by 54.2% during the first quarter. AQR Capital Management LLC now owns 2,146,078 shares of the biopharmaceutical company’s stock valued at $154,239,000 after buying an additional 753,967 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd boosted its holdings in shares of Incyte by 484.4% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 671,900 shares of the biopharmaceutical company’s stock valued at $49,203,000 after buying an additional 556,933 shares in the last quarter. Finally, Man Group plc grew its position in shares of Incyte by 284.0% in the 4th quarter. Man Group plc now owns 704,909 shares of the biopharmaceutical company’s stock worth $61,554,000 after buying an additional 521,341 shares during the last quarter. Institutional investors and hedge funds own 91.34% of the company’s stock.

A number of equities analysts have commented on INCY shares. Zacks Investment Research cut shares of Incyte from a “hold” rating to a “sell” rating and set a $93.00 price objective for the company. in a research note on Thursday, April 9th. William Blair reiterated a “buy” rating on shares of Incyte in a research report on Wednesday, June 17th. Credit Suisse Group restated a “hold” rating and set a $88.00 price objective on shares of Incyte in a research report on Wednesday, May 6th. Oppenheimer assumed coverage on Incyte in a research note on Monday, June 15th. They issued a “buy” rating and a $120.00 price objective for the company. Finally, JPMorgan Chase & Co. downgraded Incyte from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $89.00 to $99.00 in a research report on Tuesday, May 5th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Incyte has an average rating of “Hold” and an average target price of $100.29.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

See Also: Asset Allocation

Insider Buying and Selling by Quarter for Incyte (NASDAQ:INCY)

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