Incyte stock sees insider sale and analyst price target hikes

Executive Vice President Patrick Mayes of Incyte Corporation sold 41,899 shares for about $5 million, cutting his stake by roughly 40% and leaving him with 61,441 shares valued at $7.3 million. The transaction was carried out under a pre‑arranged Rule 10b5‑1 plan and was disclosed to the SEC.

At the same time, several Wall Street analysts raised their price targets for Incyte’s shares. Mizuho lifted its target to $137, BMO Capital Markets to $130, Leerink Partners to $155, Barclays to $139, and Stifel Nicolaus to $145. The consensus target now sits near $120.40. The stock rose 1‑2% after the company reported quarterly earnings of $3.09 per share, beating the $2.15 consensus, and revenue of $1.67 billion, above the $1.50 billion estimate.