Jonathan Elliott Dickinson Sells 8,450 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCY) EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the completion of the transaction, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Incyte Trading Up 0.0 %

Shares of INCY opened at $66.43 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $70.36. The firm has a market cap of $14.92 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 5.03 and a beta of 0.73. The business’s fifty day moving average is $64.14 and its 200-day moving average is $59.66.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. Equities analysts anticipate that Incyte Co. will post 0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INCY. Citigroup upped their target price on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $67.00 price objective on shares of Incyte in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their target price on Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $73.76.

Hedge Funds Weigh In On Incyte

A number of institutional investors have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators boosted its position in Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 164 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Incyte by 1.3% during the 2nd quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after acquiring an additional 179 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of Incyte by 4.0% during the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock valued at $287,000 after acquiring an additional 182 shares in the last quarter. 180 Wealth Advisors LLC grew its position in Incyte by 4.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock worth $271,000 after acquiring an additional 204 shares during the last quarter. Finally, Empirical Finance LLC increased its holdings in Incyte by 3.7% in the 1st quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock worth $364,000 after purchasing an additional 230 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

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.