Incyte Corp. (NASDAQ:INCY) EVP Barry P. Flannelly sold 24,204 shares of Incyte Corp. stock in a transaction on Friday, October 7th. The shares were sold at an average price of $97.00, for a total value of $2,347,788.00. Following the sale, the executive vice president now directly owns 13,595 shares in the company, valued at approximately $1,318,715. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Incyte Corp. (NASDAQ:INCY) opened at 92.11 on Wednesday. Incyte Corp. has a one year low of $55.00 and a one year high of $124.98. The stock’s 50 day moving average price is $86.25 and its 200-day moving average price is $81.33. The stock has a market cap of $17.32 billion, a P/E ratio of 250.30 and a beta of 0.53.
Incyte Corp. (NASDAQ:INCY) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.20. The business had revenue of $208 million for the quarter, compared to the consensus estimate of $236.91 million. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. Incyte Corp.’s revenue was up 51.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. On average, analysts predict that Incyte Corp. will post $0.19 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Pictet Asset Management Ltd. increased its position in shares of Incyte Corp. by 241.5% in the second quarter. Pictet Asset Management Ltd. now owns 760,513 shares of the biopharmaceutical company’s stock valued at $64,195,000 after buying an additional 537,800 shares during the last quarter. Capital International Investors increased its position in Incyte Corp. by 9.2% in the second quarter. Capital International Investors now owns 5,918,033 shares of the biopharmaceutical company’s stock valued at $473,324,000 after buying an additional 499,536 shares in the last quarter. Marshall Wace LLP increased its position in Incyte Corp. by 224.0% in the second quarter. Marshall Wace LLP now owns 637,663 shares of the biopharmaceutical company’s stock valued at $51,000,000 after buying an additional 440,877 shares in the last quarter. Capital Fund Management S.A. purchased a new position in Incyte Corp. during the second quarter valued at about $33,288,000. Finally, Eaton Vance Management increased its position in Incyte Corp. by 246.2% in the second quarter. Eaton Vance Management now owns 511,787 shares of the biopharmaceutical company’s stock valued at $40,933,000 after buying an additional 363,939 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on INCY shares. JMP Securities reaffirmed an “outperform” rating and set a $100.00 target price on shares of Incyte Corp. in a research note on Wednesday, June 15th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Incyte Corp. in a research note on Wednesday, June 29th. Royal Bank Of Canada started coverage on Incyte Corp. in a research note on Tuesday, July 12th. They set an “outperform” rating and a $105.00 target price on the stock. Leerink Swann reaffirmed a “buy” rating on shares of Incyte Corp. in a research note on Monday, July 18th. Finally, Zacks Investment Research raised Incyte Corp. from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $105.40.
Incyte Corp. Company Profile
Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).
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