Vijay K. Iyengar Sells 657 Shares of Incyte Co. (NASDAQ:INCY) Stock

by · The Cerbat Gem

Incyte Co. (NASDAQ:INCY – Get Free Report) EVP Vijay K. Iyengar sold 657 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $65.00, for a total transaction of $42,705.00. Following the transaction, the executive vice president now owns 43,412 shares of the company’s stock, valued at approximately $2,821,780. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Incyte Price Performance

Incyte stock opened at $65.26 on Friday. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $86.29. The stock has a market capitalization of $14.63 billion, a P/E ratio of 34.53, a P/E/G ratio of 0.89 and a beta of 0.76. The firm’s 50-day moving average is $57.51 and its two-hundred day moving average is $60.13. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.91 and a quick ratio of 3.86.

Incyte (NASDAQ:INCY – Get Free Report) last released its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.91 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.91. Incyte had a net margin of 11.78% and a return on equity of 11.21%. The company had revenue of $919.03 million for the quarter, compared to analysts’ expectations of $973.32 million. Equities analysts predict that Incyte Co. will post 2.98 earnings per share for the current year.

Institutional Investors Weigh In On Incyte

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Incyte by 15.7% in the second quarter. BlackRock Inc. now owns 23,882,396 shares of the biopharmaceutical company’s stock worth $1,486,679,000 after acquiring an additional 3,246,531 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Incyte by 1.3% in the third quarter. Vanguard Group Inc. now owns 22,159,419 shares of the biopharmaceutical company’s stock worth $1,280,150,000 after acquiring an additional 289,882 shares during the last quarter. State Street Corp boosted its position in shares of Incyte by 5.7% in the second quarter. State Street Corp now owns 9,850,455 shares of the biopharmaceutical company’s stock worth $613,191,000 after acquiring an additional 527,398 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Incyte by 117.4% in the first quarter. Royal Bank of Canada now owns 7,682,752 shares of the biopharmaceutical company’s stock worth $610,164,000 after acquiring an additional 4,148,559 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Incyte by 22.6% in the first quarter. Renaissance Technologies LLC now owns 5,602,433 shares of the biopharmaceutical company’s stock worth $404,888,000 after acquiring an additional 1,034,200 shares during the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JMP Securities restated a “market outperform” rating and set a $93.00 price objective on shares of Incyte in a research report on Wednesday, December 13th. SVB Leerink upgraded shares of Incyte from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Wednesday, December 13th. The Goldman Sachs Group downgraded shares of Incyte from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $98.00 to $65.00 in a research report on Tuesday, November 21st. Royal Bank of Canada cut their price objective on shares of Incyte from $74.00 to $63.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 1st. Finally, Guggenheim upgraded shares of Incyte from a “neutral” rating to a “buy” rating and set a $86.00 price target for the company in a report on Monday, December 4th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.11.

View Our Latest Stock Analysis on INCY

Incyte Company Profile

(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, Europe, Japan, and internationally. The company offers JAKAFI (ruxolitinib), for the treatment of adults with intermediate or high-risk myelofibrosis; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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