Incyte (NASDAQ:INCY) EVP Sheila Denton Sells 598 Shares

Incyte Corporation (NASDAQ:INCY) EVP Sheila Denton sold 598 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total transaction of $60,613.28. Following the completion of the transaction, the executive vice president owned 26,569 shares of the company’s stock, valued at $2,693,033.84. This represents a 2.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Incyte Stock Performance

Shares of Incyte stock traded down $0.18 on Friday, hitting $105.03. The stock had a trading volume of 191,018 shares, compared to its average volume of 1,923,027. The stock has a market cap of $20.62 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 0.70 and a beta of 0.74. The company has a current ratio of 3.20, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $106.47. The company’s 50 day moving average price is $87.86 and its 200 day moving average price is $76.01.

Analysts Set New Price Targets

INCY has been the topic of a number of research reports. Wall Street Zen upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Truist Financial reiterated a “hold” rating and issued a $93.00 target price (up from $79.00) on shares of Incyte in a research note on Wednesday, October 29th. Royal Bank Of Canada increased their price target on Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 29th. BMO Capital Markets reiterated an “underperform” rating and issued a $60.00 price objective (up from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. Finally, UBS Group restated a “neutral” rating and set a $68.00 price objective (up previously from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $92.77.

Hedge Funds Weigh In On Incyte

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in shares of Incyte by 0.7% in the first quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company’s stock valued at $12,954,000 after purchasing an additional 1,419 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Incyte by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 1,223,136 shares of the biopharmaceutical company’s stock valued at $74,061,000 after acquiring an additional 95,621 shares in the last quarter. Significant Wealth Partners LLC increased its position in Incyte by 14.3% during the 1st quarter. Significant Wealth Partners LLC now owns 8,091 shares of the biopharmaceutical company’s stock worth $490,000 after purchasing an additional 1,014 shares in the last quarter. Cerity Partners LLC increased its position in Incyte by 103.5% during the 1st quarter. Cerity Partners LLC now owns 132,703 shares of the biopharmaceutical company’s stock worth $8,035,000 after purchasing an additional 67,495 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in Incyte by 0.5% in the 1st quarter. State of Michigan Retirement System now owns 43,559 shares of the biopharmaceutical company’s stock valued at $2,637,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

About Incyte

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.