Incyte (NASDAQ:INCY) EVP Sells $5,005,254.54 in Stock

Incyte Corporation (NASDAQ:INCY – Get Free Report) EVP Patrick Mayes sold 41,899 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the completion of the sale, the executive vice president directly owned 61,441 shares of the company’s stock, valued at $7,339,741.86. The trade was a 40.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Incyte Stock Up 1.9%

INCY stock traded up $2.22 during trading on Tuesday, hitting $120.65. 2,052,860 shares of the company’s stock traded hands, compared to its average volume of 1,796,887. The firm has a market capitalization of $24.46 billion, a P/E ratio of 15.37, a PEG ratio of 3.96 and a beta of 0.76. Incyte Corporation has a 1 year low of $76.45 and a 1 year high of $132.60. The business has a fifty day simple moving average of $109.97 and a two-hundred day simple moving average of $102.32.

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Incyte (NASDAQ:INCY – Get Free Report) last posted its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.94. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.50 billion. Incyte had a return on equity of 29.93% and a net margin of 27.71%.Incyte’s revenue was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 earnings per share. On average, equities research analysts predict that Incyte Corporation will post 2.5 EPS for the current fiscal year.

Institutional Trading of Incyte

Institutional investors have recently made changes to their positions in the business. Jacobi Capital Management LLC grew its stake in Incyte by 0.9% during the fourth quarter. Jacobi Capital Management LLC now owns 10,613 shares of the biopharmaceutical company’s stock worth $1,048,000 after buying an additional 99 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Incyte by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company’s stock valued at $1,864,000 after acquiring an additional 100 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Incyte by 7.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,628 shares of the biopharmaceutical company’s stock valued at $161,000 after acquiring an additional 113 shares in the last quarter. Bank of Nova Scotia lifted 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 acquiring an additional 124 shares in the last quarter. Finally, Perbak Capital Partners LLP boosted its position in Incyte by 2.5% during the 3rd quarter. Perbak Capital Partners LLP now owns 5,298 shares of the biopharmaceutical company’s stock worth $449,000 after purchasing an additional 129 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

INCY has been the subject of a number of analyst reports. Stifel Nicolaus set a $145.00 price objective on Incyte in a research note on Tuesday, July 28th. Leerink Partners lifted their target price on Incyte from $131.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday. Royal Bank Of Canada boosted their target price on shares of Incyte from $99.00 to $109.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 29th. BMO Capital Markets raised their price target on shares of Incyte from $112.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Finally, Oppenheimer reaffirmed a “market perform” rating and issued a $120.00 price objective on shares of Incyte in a research report on Tuesday, July 28th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and a consensus price target of $120.40.

Read Our Latest Stock Report on INCY

About Incyte

(Get Free Report)

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.

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