Incyte Chairman Schutter Richard U. De Sells 50,000 Shares (INCY)
Incyte (NASDAQ:INCY) Chairman Schutter Richard U. De unloaded 50,000 shares of Incyte stock on the open market in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $65.53, for a total value of $3,276,500.00. Following the completion of the sale, the chairman now directly owns 155,000 shares in the company, valued at approximately $10,157,150. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on INCY shares. Analysts at Barclays raised their price target on shares of Incyte from $64.00 to $75.00 in a research note on Thursday, February 13th. They now have an “overweight” rating on the stock. Separately, analysts at UBS AG raised their price target on shares of Incyte from $74.00 to $90.00 in a research note on Thursday, February 13th. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Incyte from $79.00 to $85.00 in a research note on Thursday, February 13th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the stock. Incyte presently has a consensus rating of “Buy” and a consensus target price of $59.40.
Shares of Incyte (NASDAQ:INCY) traded down 5.88% during mid-day trading on Wednesday, hitting $61.65. 2,465,189 shares of the company’s stock traded hands. Incyte has a 52 week low of $18.23 and a 52 week high of $69.98. The stock has a 50-day moving average of $62.06 and a 200-day moving average of $44.83. The company’s market cap is $9.933 billion.
Incyte (NASDAQ:INCY) last released its earnings data on Wednesday, February 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by $0.05. The company had revenue of $97.10 million for the quarter, compared to the consensus estimate of $98.04 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was down 14.7% on a year-over-year basis. On average, analysts predict that Incyte will post $-0.37 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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