Lee Heeson Sells 3,074 Shares of Incyte (NASDAQ:INCY) Stock

Incyte Corporation (NASDAQ:INCY) EVP Lee Heeson sold 3,074 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total transaction of $289,017.48. Following the completion of the transaction, the executive vice president owned 29,241 shares in the company, valued at $2,749,238.82. This represents a 9.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Incyte Trading Down 0.5%

NASDAQ:INCY opened at $105.20 on Friday. The company has a fifty day moving average of $87.86 and a 200 day moving average of $76.01. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $106.47. The company has a quick ratio of 2.78, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $20.65 billion, a P/E ratio of 17.62, a P/E/G ratio of 0.70 and a beta of 0.74.

Institutional Investors Weigh In On Incyte

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Nova Scotia boosted its holdings in shares of Incyte by 0.7% during the 2nd quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after buying an additional 124 shares in the last quarter. MAI Capital Management lifted its position in Incyte by 19.9% during the 2nd quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 125 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its stake in Incyte by 0.9% during the third quarter. Atlantic Edge Private Wealth Management LLC now owns 14,556 shares of the biopharmaceutical company’s stock worth $1,235,000 after acquiring an additional 125 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Incyte by 1.7% during the second quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company’s stock worth $612,000 after acquiring an additional 147 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Incyte by 10.1% in the second quarter. Farther Finance Advisors LLC now owns 1,706 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 156 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INCY has been the subject of a number of analyst reports. Zacks Research upgraded shares of Incyte from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Wall Street Zen upgraded Incyte from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Piper Sandler boosted their target price on Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday. Oppenheimer lowered Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Incyte presently has a consensus rating of “Hold” and a consensus target price of $92.77.

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.