Key Points
- Insider sale: Incyte insider Pablo Cagnoni sold 18,667 shares at an average price of $94.24 for a total of $1,759,178, leaving him with 234,800 shares (a 7.36% reduction in his position).
- Company performance and market view: Incyte reported Q results with EPS of $1.80 (missing the $1.96 estimate) but revenue of $1.51B (beating $1.35B) and 27.8% YoY revenue growth; the stock trades at a market cap of ~$18.5B and a P/E of 14.5, while analysts hold a consensus "Hold" rating with an average target of $103.44.
Incyte Corporation (NASDAQ:INCY - Get Free Report) insider Pablo Cagnoni sold 18,667 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $94.24, for a total transaction of $1,759,178.08. Following the completion of the transaction, the insider owned 234,800 shares of the company's stock, valued at $22,127,552. This trade represents a 7.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Incyte Stock Up 0.8%
Shares of INCY stock opened at $92.95 on Friday. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $112.29. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average of $100.73 and a 200-day moving average of $96.72. The company has a market capitalization of $18.50 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 0.73 and a beta of 0.84.
Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.16). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.35 billion. Incyte had a net margin of 25.03% and a return on equity of 26.34%. The company's revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 earnings per share. As a group, equities research analysts predict that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Mizuho set a $121.00 price objective on Incyte and gave the stock an "outperform" rating in a research report on Monday, December 8th. Piper Sandler boosted their target price on Incyte from $102.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, February 6th. Stifel Nicolaus upped their price target on Incyte from $119.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $90.00 price target on shares of Incyte in a research note on Thursday, January 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Incyte from $107.00 to $101.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 11th. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $103.44.
Read Our Latest Report on Incyte
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of INCY. AustralianSuper Pty Ltd bought a new position in shares of Incyte in the third quarter valued at $18,085,000. Rakuten Investment Management Inc. bought a new stake in Incyte during the third quarter worth $14,646,000. LBP AM SA lifted its stake in Incyte by 33.6% in the third quarter. LBP AM SA now owns 238,705 shares of the biopharmaceutical company's stock valued at $20,245,000 after acquiring an additional 59,974 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Incyte by 38.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company's stock valued at $32,873,000 after acquiring an additional 108,645 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Incyte by 28.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 106,789 shares of the biopharmaceutical company's stock valued at $9,309,000 after acquiring an additional 23,954 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.
About Incyte
(
Get Free Report)
Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company's research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.
The company's flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.
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