Incyte Co. (NASDAQ:INCY) Director Paul A. Friedman sold 50,000 shares of Incyte stock in a transaction on Friday, March 17th. The stock was sold at an average price of $148.72, for a total transaction of $7,436,000.00. Following the completion of the transaction, the director now directly owns 302,976 shares in the company, valued at $45,058,590.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Incyte Co. (NASDAQ:INCY) traded up 0.38% during mid-day trading on Monday, hitting $148.52. 1,744,105 shares of the stock were exchanged. The stock’s 50 day moving average is $129.91 and its 200 day moving average is $105.70. The firm has a market cap of $28.13 billion, a P/E ratio of 275.04 and a beta of 0.78. Incyte Co. has a 12 month low of $62.63 and a 12 month high of $153.15.
Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.08. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The company had revenue of $326 million for the quarter, compared to analysts’ expectations of $324.90 million. During the same quarter in the previous year, the company posted $0.29 EPS. The business’s quarterly revenue was up 33.9% on a year-over-year basis. Analysts expect that Incyte Co. will post $0.39 EPS for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. raised its stake in Incyte by 1.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,322 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 22 shares during the last quarter. Toronto Dominion Bank raised its stake in Incyte by 57.3% in the third quarter. Toronto Dominion Bank now owns 1,457 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 531 shares during the last quarter. Seven Bridges Advisors LLC raised its stake in Incyte by 27.1% in the third quarter. Seven Bridges Advisors LLC now owns 1,867 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 398 shares during the last quarter. Pinnacle Associates Ltd. bought a new stake in Incyte during the fourth quarter valued at $212,000. Finally, IFM Investors Pty Ltd bought a new stake in Incyte during the fourth quarter valued at $214,000. Institutional investors own 92.62% of the company’s stock.
Several analysts recently weighed in on INCY shares. JMP Securities reiterated an “outperform” rating and issued a $130.00 price target on shares of Incyte in a report on Wednesday, January 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $149.00 price target (up previously from $135.00) on shares of Incyte in a report on Thursday, February 16th. Vetr upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating and set a $133.50 price target on the stock in a report on Monday, January 30th. Credit Suisse Group AG started coverage on shares of Incyte in a report on Monday, January 23rd. They issued an “outperform” rating and a $137.00 price target on the stock. Finally, Cowen and Company reiterated an “outperform” rating on shares of Incyte in a report on Wednesday, March 8th. One analyst has rated the stock with a sell rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $122.86.
Incyte Company Profile
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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