Incyte Co. (NASDAQ:INCY – Get Free Report) shares were down 1.9% on Wednesday . The stock traded as low as $64.39 and last traded at $65.15. Approximately 333,036 shares were traded during trading, a decline of 86% from the average daily volume of 2,419,555 shares. The stock had previously closed at $66.43.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on INCY shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $67.00 target price on shares of Incyte in a research report on Tuesday, September 3rd. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. JPMorgan Chase & Co. raised their target price on Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a research 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 report on Thursday, August 1st. Finally, Guggenheim raised their price objective on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Incyte currently has a consensus rating of “Hold” and an average price target of $73.24.
Incyte Stock Performance
The firm has a market capitalization of $14.63 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92. The business’s fifty day simple moving average is $64.14 and its 200-day simple moving average is $59.66.
Incyte (NASDAQ:INCY – Get Free Report) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. Incyte’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. As a group, equities research analysts expect that Incyte Co. will post 0.67 EPS for the current year.
Insider Activity at Incyte
In related news, EVP Barry P. Flannelly sold 8,148 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total value of $488,880.00. Following the completion of the transaction, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at $3,032,040. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the sale, the executive vice president now directly owns 36,701 shares in the company, valued at $2,569,070. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 8,148 shares of Incyte stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total value of $488,880.00. Following the completion of the transaction, the executive vice president now owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,047 shares of company stock valued at $2,225,626. Insiders own 17.50% of the company’s stock.
Institutional Trading of Incyte
A number of institutional investors have recently bought and sold shares of INCY. Wellington Management Group LLP lifted its holdings in shares of Incyte by 48.8% in the 4th quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock worth $8,266,000 after acquiring an additional 43,160 shares during the last quarter. Fulton Bank N.A. purchased a new stake in shares of Incyte in the first quarter worth approximately $1,425,000. Great Lakes Advisors LLC bought a new stake in shares of Incyte during the 4th quarter worth approximately $2,033,000. FORVIS Wealth Advisors LLC bought a new stake in shares of Incyte during the 1st quarter worth approximately $1,495,000. Finally, ProShare Advisors LLC grew its position in Incyte by 14.4% in the 1st quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock valued at $3,594,000 after acquiring an additional 7,925 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.
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.