Maria E. Pasquale Sells 2,193 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCY) EVP Maria E. Pasquale sold 2,193 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $90.83, for a total value of $199,190.19. Following the sale, the executive vice president now owns 30,397 shares of the company’s stock, valued at approximately $2,760,959.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Incyte stock opened at $91.43 on Wednesday. Incyte Co. has a fifty-two week low of $62.48 and a fifty-two week high of $110.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.73 and a quick ratio of 3.70. The firm has a market capitalization of $20.00 billion, a P/E ratio of -100.47 and a beta of 1.07. The company’s 50 day moving average price is $94.77 and its two-hundred day moving average price is $92.95.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.36. Incyte had a negative net margin of 8.00% and a negative return on equity of 8.06%. The business had revenue of $688.00 million for the quarter, compared to analyst estimates of $617.55 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. Incyte’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, analysts expect that Incyte Co. will post -1.12 earnings per share for the current year.

A number of research analysts have recently issued reports on INCY shares. Mizuho assumed coverage on Incyte in a report on Tuesday, August 4th. They issued a “hold” rating and a $95.00 target price on the stock. BidaskClub downgraded Incyte from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 25th. SVB Leerink increased their target price on Incyte from $86.00 to $87.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. Cantor Fitzgerald upped their price target on Incyte from $83.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Finally, Royal Bank of Canada increased their target price on Incyte from $91.00 to $92.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. Incyte presently has a consensus rating of “Hold” and an average target price of $101.86.

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Incyte by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 20,733,878 shares of the biopharmaceutical company’s stock valued at $2,155,701,000 after buying an additional 149,924 shares in the last quarter. State Street Corp boosted its position in Incyte by 1.1% during the 1st quarter. State Street Corp now owns 8,369,821 shares of the biopharmaceutical company’s stock valued at $612,922,000 after buying an additional 90,868 shares during the period. Geode Capital Management LLC lifted its position in shares of Incyte by 1.6% in the 1st quarter. Geode Capital Management LLC now owns 3,006,999 shares of the biopharmaceutical company’s stock worth $219,805,000 after purchasing an additional 48,044 shares during the period. AQR Capital Management LLC lifted its position in shares of Incyte by 54.2% in the 1st quarter. AQR Capital Management LLC now owns 2,146,078 shares of the biopharmaceutical company’s stock worth $154,239,000 after purchasing an additional 753,967 shares during the period. Finally, Pictet Asset Management Ltd. lifted its position in Incyte by 3.7% during the 1st quarter. Pictet Asset Management Ltd. now owns 1,955,654 shares of the biopharmaceutical company’s stock valued at $143,212,000 after acquiring an additional 69,145 shares during the period. 93.35% of the stock is owned by institutional investors and hedge funds.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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