Incyte (NASDAQ:INCY) EVP Sells $420,454.98 in Stock

by · The Cerbat Gem

Incyte Corporation (NASDAQ:INCY – Get Free Report) EVP Michael James Morrissey sold 4,323 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $97.26, for a total value of $420,454.98. Following the completion of the sale, the executive vice president owned 27,507 shares in the company, valued at approximately $2,675,330.82. This represents a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Michael James Morrissey also recently made the following trade(s):

  • On Tuesday, December 16th, Michael James Morrissey sold 54,008 shares of Incyte stock. The stock was sold at an average price of $97.29, for a total value of $5,254,438.32.

Incyte Stock Performance

Shares of NASDAQ:INCY traded down $0.32 on Thursday, hitting $97.31. The company’s stock had a trading volume of 1,730,427 shares, compared to its average volume of 1,953,265. The company has a market capitalization of $19.10 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 0.66 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $109.28. The stock’s 50-day moving average is $97.59 and its two-hundred day moving average is $84.26.

Incyte (NASDAQ:INCY – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.61. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.26 billion. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 earnings per share. On average, equities research analysts forecast that Incyte Corporation will post 4.86 EPS for the current year.

Institutional Investors Weigh In On Incyte

Hedge funds have recently modified their holdings of the stock. Banque Transatlantique SA acquired a new stake in Incyte during the 1st quarter worth about $26,000. Harbor Capital Advisors Inc. purchased a new position in shares of Incyte in the third quarter worth approximately $26,000. FNY Investment Advisers LLC acquired a new stake in shares of Incyte during the second quarter valued at approximately $27,000. Root Financial Partners LLC purchased a new stake in shares of Incyte in the third quarter valued at $28,000. Finally, Quent Capital LLC acquired a new stake in Incyte during the 3rd quarter worth about $30,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on INCY. Royal Bank Of Canada increased their price objective 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. Zacks Research lowered Incyte from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Piper Sandler lifted their price target on Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Wells Fargo & Company upped their price objective on Incyte from $97.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, December 8th. Finally, Barclays raised their target price on Incyte from $101.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $99.07.

View Our Latest Report on INCY

About Incyte

(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.

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