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Sheila A. Denton, Executive Vice President and General Counsel at Incyte Corp (NASDAQ:INCY), a $13.6 billion market cap biotech company with strong financial health according to InvestingPro, recently executed a series of stock transactions, as disclosed in a recent SEC filing. On March 4, 2025, Denton sold 599 shares of Incyte common stock at a price of $69.99 per share, amounting to a total value of $41,924.
In addition to the sale, Denton exercised options to acquire 599 shares of common stock at a price of $58.06 per share, resulting in a transaction total of $34,777. Following these transactions, Denton holds 25,848 shares, which include previously reported restricted stock units and performance units that have yet to vest.
These transactions were conducted under a pre-arranged trading plan, as indicated in the filing. For deeper insights into insider trading patterns and comprehensive analysis of Incyte’s financial metrics, including 11 additional ProTips, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Incyte has announced a strategic collaboration with Genesis Therapeutics to leverage Genesis’ AI platform for the development of new small molecule therapeutics. This partnership involves an upfront payment of $30 million to Genesis, with potential milestone payments totaling up to $295 million per target. Incyte’s recent financial results have also attracted attention, with TD Cowen raising its stock price target to $88, maintaining a Buy rating due to robust performances from products like Opzelura and Jakafi. Conversely, RBC Capital Markets has reduced its price target to $68, citing mixed expectations for Incyte’s product pipeline and higher research and development spending.
Citi has also adjusted its price target for Incyte to $88, maintaining a Buy rating while highlighting the company’s plans to file an NDA for Jakafi XR, which met FDA bioequivalence criteria. Stifel increased its price target to $77 but maintained a Hold rating, noting concerns about upcoming Phase 3 data for povorcitinib. These developments indicate a dynamic period ahead for Incyte, with several pivotal studies and product launches planned. The company’s financial guidance and strategic initiatives continue to be a focal point for analysts and investors.
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