Pharmacyclics Trading Down 3.5% After Insider Selling (PCYC)
Pharmacyclics (NASDAQ:PCYC) was down 3.5% during trading on Friday after an insider sold shares in the company, American Banking News reports. The company traded as low as $115.58 and last traded at $116.42, with a volume of 1,041,024 shares changing hands. The stock had previously closed at $120.61.
Specifically, Insider Jesse Mcgreivy sold 34,062 shares of the stock on the open market in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $120.92, for a total transaction of $4,118,777.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on PCYC shares. Analysts at William Blair raised their price target on shares of Pharmacyclics from $150.00 to $180.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Pharmacyclics in a research note on Friday, August 1st. They now have a $180.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Pharmacyclics in a research note on Friday, August 1st. They now have a $152.00 price target on the stock, up previously from $150.00. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $155.33.
The stock’s 50-day moving average is $100.2 and its 200-day moving average is $108.8. The company has a market cap of $8.825 billion and a price-to-earnings ratio of 107.78.
Pharmacyclics (NASDAQ:PCYC) last released its earnings data on Thursday, July 31st. The company reported ($0.26) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.23) by $0.03. The company had revenue of $113.00 million for the quarter, compared to the consensus estimate of $95.88 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 106.6% on a year-over-year basis. Analysts expect that Pharmacyclics will post $0.36 EPS for the current fiscal year.
Pharmacyclics, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing small-molecule drugs for the treatment of cancer and immune mediated diseases.
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