Thomas Tray Sells 650 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 650 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the transaction, the insider now directly owns 23,312 shares in the company, valued at $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Thomas Tray also recently made the following trade(s):

• On Friday, December 13th, Thomas Tray sold 650 shares of Incyte stock. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00.

Incyte Trading Down 0.7 %

INCY opened at $67.06 on Friday. The company’s 50 day moving average is $72.36 and its 200-day moving average is $66.49. The company has a market cap of $12.92 billion, a P/E ratio of 479.03, a PEG ratio of 8.36 and a beta of 0.69. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.91 EPS. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. Equities research analysts predict that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INCY has been the topic of several research reports. Guggenheim increased their target price on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 price objective (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company increased their target price on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $76.29.

Hedge Funds Weigh In On Incyte

Large investors have recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of Incyte by 17,460.4% in the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after buying an additional 2,676,851 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Incyte during the third quarter valued at $156,611,000. Mizuho Securities USA LLC lifted its holdings in shares of Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after purchasing an additional 1,985,726 shares during the period. AQR Capital Management LLC grew its stake in shares of Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Incyte by 28.0% in the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after purchasing an additional 779,243 shares during the period. 96.97% of the stock is currently owned by 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.