Pablo Cagnoni Sells 10,801 Shares of Incyte (NASDAQ:INCY) Stock

Incyte Corporation (NASDAQ:INCY) insider Pablo Cagnoni sold 10,801 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $125.56, for a total value of $1,356,173.56. Following the transaction, the insider owned 183,200 shares of the company’s stock, valued at $23,002,592. The trade was a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Incyte Price Performance

Shares of Incyte stock opened at $127.81 on Friday. The stock has a market cap of $25.91 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 4.03 and a beta of 0.76. The firm’s 50-day moving average is $116.17 and its 200 day moving average is $104.17. Incyte Corporation has a 1 year low of $81.09 and a 1 year high of $132.60.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.15 by $0.94. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.50 billion. Incyte had a net margin of 27.71% and a return on equity of 29.93%. Incyte’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.57 EPS. On average, equities analysts expect that Incyte Corporation will post 2.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Incyte from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Wall Street Zen cut Incyte from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Leerink Partners increased their target price on Incyte from $131.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. UBS Group lifted their target price on Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Finally, Mizuho boosted their price target on Incyte from $121.00 to $137.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Twelve research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus target price of $123.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. Fiduciary Financial Advisors purchased a new stake in Incyte during the 2nd quarter valued at $26,000. Elyxium Wealth LLC purchased a new stake in Incyte during the fourth quarter valued at $28,000. Smithfield Trust Co lifted its holdings in Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 162 shares during the period. Continuum Advisory LLC bought a new position in Incyte in the second quarter valued at about $36,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Incyte in the fourth quarter valued at about $35,000. Institutional investors own 96.97% of the company’s stock.

Incyte Company Profile

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.