Incyte Corporation (NASDAQ:INCY) EVP Steven H. Stein sold 2,111 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $125.00, for a total transaction of $263,875.00. Following the sale, the executive vice president now owns 18,687 shares in the company, valued at $2,335,875. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Incyte Corporation (NASDAQ INCY) opened at 119.15 on Friday. The firm has a 50 day moving average price of $127.40 and a 200-day moving average price of $130.21. The firm’s market capitalization is $24.51 billion. Incyte Corporation has a 12 month low of $81.49 and a 12 month high of $153.15.
Incyte Corporation (NASDAQ:INCY) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The company had revenue of $326.40 million for the quarter, compared to the consensus estimate of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 earnings per share. On average, equities analysts forecast that Incyte Corporation will post ($0.84) EPS for the current year.
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Several research firms have recently issued reports on INCY. TheStreet raised Incyte Corporation from a “d+” rating to a “c” rating in a research note on Wednesday, May 24th. Credit Suisse Group reaffirmed a “buy” rating on shares of Incyte Corporation in a research note on Saturday, June 10th. Cowen and Company reissued a “buy” rating on shares of Incyte Corporation in a research note on Monday, June 5th. BMO Capital Markets reissued an “outperform” rating and issued a $166.00 target price (up previously from $155.00) on shares of Incyte Corporation in a research note on Monday, June 5th. Finally, Oppenheimer Holdings, Inc. set a $135.00 target price on shares of Incyte Corporation and gave the company a “hold” rating in a research note on Tuesday, June 6th. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $142.16.
Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of Incyte Corporation during the 1st quarter worth $105,000. D. Scott Neal Inc. bought a new stake in Incyte Corporation in the 2nd quarter valued at $103,000. Cornerstone Advisors Inc. increased its holdings in Incyte Corporation by 19.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 145 shares during the last quarter. FNY Partners Fund LP increased its holdings in Incyte Corporation by 4,825.0% in the 1st quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 965 shares during the last quarter. Finally, Exane Asset Management bought a new stake in Incyte Corporation in the 2nd quarter valued at $126,000. Institutional investors and hedge funds own 91.06% of the company’s stock.
Incyte Corporation 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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