Incyte Sees Significant Growth in Short Interest (INCY)
Incyte (NASDAQ:INCY) was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 8,347,559 shares, a growth of 65.9% from the April 15th total of 5,031,647 shares, StockRatingsNetwork reports. Approximately 5.0% of the company’s shares are short sold. Based on an average daily trading volume, of 2,227,183 shares, the short-interest ratio is presently 3.7 days.
In other Incyte news, VP Laurent Chardonnet sold 34,000 shares of the stock on the open market in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $51.55, for a total transaction of $1,752,700.00. Following the transaction, the vice president now directly owns 3,811 shares in the company, valued at approximately $196,457. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Incyte in a research note on Monday, May 5th. They now have a $54.00 price target on the stock. Separately, analysts at Nomura cut their price target on shares of Incyte from $93.00 to $90.00 in a research note on Friday, May 2nd. They now have a “buy” rating on the stock. Finally, analysts at Leerink Swann initiated coverage on shares of Incyte in a research note on Tuesday, April 29th. They set an “outperform” rating and a $76.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $67.60.
Shares of Incyte (NASDAQ:INCY) opened at 54.16 on Wednesday. Incyte has a one year low of $18.23 and a one year high of $70.86. The stock has a 50-day moving average of $49.95 and a 200-day moving average of $53.7. The company’s market cap is $9.079 billion.
Incyte (NASDAQ:INCY) last released its earnings data on Thursday, May 1st. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.17) by $0.04. The company had revenue of $89.80 million for the quarter, compared to the consensus estimate of $97.70 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 26.3% on a year-over-year basis. Analysts expect that Incyte will post $-0.57 EPS 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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