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

by · The Markets Daily

Incyte Corporation (NASDAQ:INCY – Get Free Report) EVP Lee Heeson sold 3,074 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total value of $289,017.48. Following the sale, the executive vice president owned 29,241 shares in the company, valued at approximately $2,749,238.82. This represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Incyte Price Performance

Shares of NASDAQ:INCY traded up $2.78 during trading on Wednesday, reaching $105.70. The company had a trading volume of 2,739,224 shares, compared to its average volume of 1,925,100. The company has a current ratio of 3.20, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $20.75 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 0.70 and a beta of 0.73. The company has a fifty day moving average of $87.02 and a two-hundred day moving average of $75.59. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $106.47.

Institutional Trading of Incyte

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on INCY shares. UBS Group reissued a “neutral” rating and set a $68.00 target price (up from $62.00) on shares of Incyte in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Zacks Research upgraded Incyte from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. BMO Capital Markets reiterated an “underperform” rating and set a $60.00 target price (up from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada raised their price objective on shares of Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.77.

View Our Latest Stock Analysis 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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