Key Points
- EVP Michael James Morrissey sold 54,008 shares of Incyte on Dec. 16 at an average price of $97.29 for about $5.25 million, leaving him with 31,830 shares — a 62.92% drop in his direct ownership.
- Incyte beat expectations last quarter with EPS of $2.26 vs. $1.65 expected and revenue of $1.37 billion, a 20% year‑over‑year increase, and analysts forecast about $4.86 EPS for the current fiscal year.
- The stock trades near $97 with a $19.1 billion market cap and a 12‑month range of $53.56–$109.28; the consensus analyst rating is a "Hold" with an average target of $99.07.
Incyte Corporation (NASDAQ:INCY - Get Free Report) EVP Michael James Morrissey sold 54,008 shares of the company's stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $97.29, for a total transaction of $5,254,438.32. Following the completion of the sale, the executive vice president directly owned 31,830 shares of the company's stock, valued at approximately $3,096,740.70. This represents a 62.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Michael James Morrissey also recently made the following trade(s):
- On Wednesday, December 17th, Michael James Morrissey sold 4,323 shares of Incyte stock. The shares were sold at an average price of $97.26, for a total transaction of $420,454.98.
Incyte Price Performance
Shares of NASDAQ:INCY opened at $97.31 on Friday. The stock has a market cap of $19.10 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 0.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 3.13. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $109.28. The stock's 50 day moving average price is $97.84 and its 200 day moving average price is $84.35.
Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.61. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period last year, the firm earned $1.07 EPS. The firm's revenue for the quarter was up 20.0% on a year-over-year basis. Equities research analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on INCY shares. Truist Financial reaffirmed a "hold" rating and set a $93.00 target price (up from $79.00) on shares of Incyte in a report on Wednesday, October 29th. Stifel Nicolaus boosted their target price on shares of Incyte from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Bank of America increased their target price on shares of Incyte from $90.00 to $104.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Wall Street Zen upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 1st. Finally, Zacks Research cut Incyte from a "strong-buy" rating to a "hold" rating in a report on Monday, November 10th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $99.07.
Check Out Our Latest Report on Incyte
Institutional Trading of Incyte
Large investors have recently added to or reduced their stakes in the company. Czech National Bank grew its holdings in shares of Incyte by 6.4% during the second quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company's stock valued at $2,674,000 after buying an additional 2,378 shares in the last quarter. denkapparat Operations GmbH lifted its stake in Incyte by 46.1% in the 2nd quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company's stock worth $769,000 after acquiring an additional 3,564 shares in the last quarter. Hussman Strategic Advisors Inc. boosted its position in Incyte by 20.0% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the biopharmaceutical company's stock worth $4,290,000 after acquiring an additional 10,500 shares during the period. Fisher Asset Management LLC grew its stake in Incyte by 74.6% during the 2nd quarter. Fisher Asset Management LLC now owns 29,922 shares of the biopharmaceutical company's stock valued at $2,038,000 after acquiring an additional 12,785 shares in the last quarter. Finally, Strid Group LLC acquired a new position in shares of Incyte in the 2nd quarter valued at about $999,000. 96.97% of the stock is owned by institutional investors and hedge funds.
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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