Insider Selling: Incyte EVP Unloads 8,000 Shares of Stock (INCY)
Incyte (NASDAQ:INCY) EVP Richard S. Levy unloaded 8,000 shares of Incyte stock on the open market in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $51.97, for a total value of $415,760.00. Following the completion of the sale, the executive vice president now directly owns 4,301 shares in the company, valued at approximately $223,523. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Tuesday, August 5th. They now have a $51.00 price target on the stock. Separately, analysts at Nomura reiterated a “buy” rating on shares of Incyte in a research note on Thursday, July 24th. They now have a $90.00 price target on the stock. Finally, 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. Two analysts have rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $62.33.
Shares of Incyte (NASDAQ:INCY) traded down 2.98% during mid-day trading on Thursday, hitting $50.12. The stock had a trading volume of 214,233 shares. Incyte has a 52 week low of $33.01 and a 52 week high of $70.86. The stock has a 50-day moving average of $49.48 and a 200-day moving average of $54.09. The company’s market cap is $8.441 billion.
Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.27. The company had revenue of $99.58 million for the quarter, compared to the consensus estimate of $140.72 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, analysts predict that Incyte will post $-0.36 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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