Insider Selling: Incyte EVP Sells 8,000 Shares of Stock (INCY)
Incyte (NASDAQ:INCY) EVP Richard S. Levy sold 8,000 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $53.88, for a total transaction of $431,040.00. Following the transaction, the executive vice president now directly owns 4,301 shares of the company’s stock, valued at approximately $231,738. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Nomura reiterated a “buy” rating on shares of Incyte in a research note on Monday, June 2nd. 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 investment analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $62.53.
Shares of Incyte (NASDAQ:INCY) traded up 1.68% during mid-day trading on Wednesday, hitting $56.21. The stock had a trading volume of 1,085,775 shares. Incyte has a one year low of $18.23 and a one year high of $70.86. The stock’s 50-day moving average is $51.41 and its 200-day moving average is $55.30. The company’s market cap is $9.422 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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