Insider Selling: Paul Friedman Unloads 376,789 Shares of Incyte Corp. Stock (INCY)
Incyte Corp. (NASDAQ:INCY) CEO Paul Friedman sold 376,789 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $37.32, for a total value of $14,061,765.48. Following the completion of the transaction, the chief executive officer now directly owns 391,868 shares of the company’s stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on INCY. Analysts at Argus raised their price target on shares of Incyte Corp. (NASDAQ:INCY) from $28.00 to $45.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Incyte Corp. (NASDAQ:INCY) from $28.00 to $43.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Finally, analysts at Guggenheim raised their price target on shares of Incyte Corp. (NASDAQ:INCY) from $31.00 to $42.00 in a research note to investors on Monday. They now have a “buy” rating on the stock.
Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $34.54.
Incyte Corp. (NASDAQ:INCY) traded up 2.96% on Thursday, hitting $37.25. 1,359,951 shares of the company’s stock traded hands. Incyte Corp. has a 52 week low of $15.43 and a 52 week high of $38.52. The stock’s 50-day moving average is $29.81 and its 200-day moving average is $24.17. The company’s market cap is $5.702 billion.
Incyte Corp. (NASDAQ:INCY) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.05 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.08 by $0.03. The company had revenue of $101.70 million for the quarter, compared to the consensus estimate of $114.34 million. During the same quarter last year, the company posted $0.03 earnings per share. Incyte Corp.’s revenue was up 17.6% compared to the same quarter last year. On average, analysts predict that Incyte Corp. will post $-0.32 earnings per share for the current fiscal year.
Incyte Corporation (NASDAQ:INCY) is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat serious unmet medical needs.
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