Barry P. Flannelly Sells 19,164 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCYGet Free Report) EVP Barry P. Flannelly sold 19,164 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the sale, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at approximately $3,982,620. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Incyte Stock Performance

Shares of INCY traded down $1.09 on Friday, reaching $61.60. 1,032,134 shares of the stock traded hands, compared to its average volume of 2,410,931. The stock’s 50-day moving average price is $55.60 and its 200-day moving average price is $58.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. The firm has a market cap of $13.83 billion, a price-to-earnings ratio of 19.00, a P/E/G ratio of 1.29 and a beta of 0.74. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $67.36.

Incyte (NASDAQ:INCYGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.31). The business had revenue of $880.89 million during the quarter, compared to the consensus estimate of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. Equities analysts forecast that Incyte Co. will post 3.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Incyte

A number of institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its stake in shares of Incyte by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock valued at $2,773,000 after purchasing an additional 187 shares in the last quarter. 180 Wealth Advisors LLC grew its stake in Incyte by 4.5% during the first quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 204 shares during the last quarter. Berger Financial Group Inc increased its holdings in shares of Incyte by 0.4% during the fourth quarter. Berger Financial Group Inc now owns 60,468 shares of the biopharmaceutical company’s stock worth $3,797,000 after buying an additional 212 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Incyte by 40.0% in the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 229 shares in the last quarter. Finally, Empirical Finance LLC grew its position in Incyte by 3.7% during the 1st quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock worth $364,000 after acquiring an additional 230 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. BMO Capital Markets decreased their price target on Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a research note on Wednesday, May 1st. Cantor Fitzgerald began coverage on shares of Incyte in a research report on Tuesday, April 23rd. They issued a “neutral” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $65.00 price objective on shares of Incyte in a report on Monday, March 25th. Bank of America dropped their target price on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $83.00 price target (down from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Incyte has an average rating of “Hold” and an average target price of $73.69.

Read Our Latest Report on INCY

Incyte Company Profile

(Get Free Report)

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.

Further Reading

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