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

Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Incyte Trading Down 3.2 %

NASDAQ:INCY opened at $60.00 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $71.29 and its 200-day simple moving average is $70.27. Incyte Co. has a 12-month low of $50.35 and a 12-month 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 announced its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS 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%. Equities analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on INCY shares. Stifel Nicolaus raised their target price on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. JMP Securities restated a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. William Blair lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Wells Fargo & Company upped their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Incyte has an average rating of “Hold” and a consensus target price of $75.13.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in INCY. Quintet Private Bank Europe S.A. purchased a new position in shares of Incyte during the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. grew its holdings in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares during the period. Brooklyn Investment Group acquired a new stake in Incyte in the third quarter valued at $30,000. R Squared Ltd purchased a new stake in shares of Incyte during the 4th quarter worth $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Incyte during the 3rd quarter worth $33,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

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.