Incyte Co. (NASDAQ:INCY) Short Interest Update

Incyte Co. (NASDAQ:INCY) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 9,640,000 shares, a drop of 10.7% from the August 31st total of 10,800,000 shares. Based on an average daily volume of 2,250,000 shares, the short-interest ratio is currently 4.3 days. Currently, 5.1% of the company’s shares are sold short.

Insider Transactions at Incyte

In other news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 1,306 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total value of $83,832.14. Following the sale, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $3,725,715.98. The disclosure for this sale can be found here. Insiders have sold 34,047 shares of company stock worth $2,225,626 in the last three months. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Incyte

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. MFA Wealth Advisors LLC bought a new stake in shares of Incyte during the second quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in Incyte in the 1st quarter valued at $28,000. Riverview Trust Co acquired a new position in Incyte in the 1st quarter valued at $29,000. Fidelis Capital Partners LLC bought a new position in Incyte during the 1st quarter worth $32,000. Finally, Innealta Capital LLC acquired a new stake in shares of Incyte during the second quarter worth $32,000. 96.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

INCY has been the topic of a number of research reports. BMO Capital Markets reaffirmed an “underperform” rating and issued a $48.00 price target (down previously from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Guggenheim boosted their price target on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Oppenheimer cut their target price on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $73.24.

Incyte Stock Up 0.4 %

Shares of INCY stock opened at $66.10 on Tuesday. Incyte has a 52-week low of $50.27 and a 52-week high of $70.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92. The stock has a market cap of $14.84 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 5.17 and a beta of 0.73. The firm’s 50-day moving average is $64.33 and its 200-day moving average is $60.02.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts predict that Incyte will post 0.66 EPS for the current year.

About Incyte

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.