Incyte Corporation (NASDAQ:INCY) Director Bros. Advisors Lp Baker acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were acquired at an average cost of $132.00 per share, for a total transaction of $13,200,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Incyte Corporation (NASDAQ:INCY) opened at 119.15 on Friday. The company’s 50-day moving average is $127.40 and its 200 day moving average is $130.21. The stock’s market capitalization is $24.51 billion. Incyte Corporation has a 1-year low of $81.49 and a 1-year high of $153.15.
Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. Incyte Corporation’s revenue was up 32.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS. Equities analysts predict that Incyte Corporation will post ($0.84) earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of INCY. Tower Research Capital LLC TRC purchased a new stake in shares of Incyte Corporation during the first quarter worth $105,000. D. Scott Neal Inc. purchased a new stake in shares of Incyte Corporation during the second quarter worth $103,000. Cornerstone Advisors Inc. grew its holdings in shares of Incyte Corporation by 19.6% during the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 145 shares in the last quarter. FNY Partners Fund LP grew its holdings in shares of Incyte Corporation by 4,825.0% during the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 965 shares in the last quarter. Finally, Exane Asset Management purchased a new stake in shares of Incyte Corporation during the second quarter worth $126,000. 91.06% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on INCY shares. J P Morgan Chase & Co reiterated a “buy” rating and issued a $149.00 target price on shares of Incyte Corporation in a research note on Thursday, August 31st. Zacks Investment Research upgraded shares of Incyte Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. BMO Capital Markets restated an “outperform” rating and set a $172.00 price objective on shares of Incyte Corporation in a research report on Monday, August 28th. Oppenheimer Holdings, Inc. restated a “hold” rating and set a $135.00 price objective on shares of Incyte Corporation in a research report on Thursday, August 31st. Finally, Barclays PLC increased their price objective on shares of Incyte Corporation from $135.00 to $185.00 and gave the company an “overweight” rating in a research report on Tuesday, July 4th. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $142.16.
About Incyte Corporation
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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