Incyte CFO Unloads $10,546,000 in Stock (INCY)
Incyte (NASDAQ:INCY) CFO David C. Hastings sold 200,000 shares of the stock on the open market in a transaction dated Thursday, June 5th. The shares were sold at an average price of $52.73, for a total transaction of $10,546,000.00. Following the completion of the transaction, the chief financial officer now directly owns 8,500 shares of the company’s stock, valued at approximately $448,205. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
INCY has been the subject of a number of recent research reports. Analysts at Nomura reiterated a “buy” rating on shares of Incyte in a research note on Monday. They now have a $90.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Incyte in a research note on Thursday, May 15th. They now have a $14.00 price target on the stock. Finally, 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. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $62.53.
Incyte (NASDAQ:INCY) traded down 1.55% during mid-day trading on Friday, hitting $52.16. The stock had a trading volume of 963,853 shares. Incyte has a 52 week low of $18.23 and a 52 week high of $70.86. The stock has a 50-day moving average of $49.90 and a 200-day moving average of $54.83. The company’s market cap is $8.743 billion.
Incyte (NASDAQ:INCY) last posted its quarterly earnings results 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 $-0.44 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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