Insider Selling: Incyte Corporation (INCY) Insider Sells 3,000 Shares of Stock
Incyte Corporation (NASDAQ:INCY) insider Paul Trower sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $138.41, for a total value of $415,230.00. Following the completion of the transaction, the insider now directly owns 14,853 shares of the company’s stock, valued at $2,055,803.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Paul Trower also recently made the following trade(s):
- On Friday, August 4th, Paul Trower sold 3,000 shares of Incyte Corporation stock. The stock was sold at an average price of $125.25, for a total value of $375,750.00.
- On Wednesday, July 5th, Paul Trower sold 3,000 shares of Incyte Corporation stock. The stock was sold at an average price of $126.18, for a total value of $378,540.00.
Shares of Incyte Corporation (NASDAQ INCY) traded down 1.12% during midday trading on Thursday, reaching $134.34. The company’s stock had a trading volume of 1,421,480 shares. The stock’s market capitalization is $27.63 billion. The stock has a 50-day moving average price of $129.28 and a 200 day moving average price of $130.33. Incyte Corporation has a 52 week low of $77.58 and a 52 week high of $153.15.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The firm had revenue of $326.40 million for the quarter, compared to analysts’ expectations of $318.45 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. Incyte Corporation’s revenue was up 32.5% on a year-over-year basis. Equities analysts forecast that Incyte Corporation will post ($0.86) earnings per share for the current year.
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Large investors have recently made changes to their positions in the stock. Gs Investments Inc. bought a new position in Incyte Corporation during the second quarter valued at about $3,777,000. Lord Abbett & CO. LLC raised its holdings in Incyte Corporation by 40.6% during the second quarter. Lord Abbett & CO. LLC now owns 457,455 shares of the biopharmaceutical company’s stock valued at $57,598,000 after buying an additional 132,127 shares in the last quarter. Ashford Capital Management Inc. raised its holdings in Incyte Corporation by 2.2% during the second quarter. Ashford Capital Management Inc. now owns 101,937 shares of the biopharmaceutical company’s stock valued at $12,835,000 after buying an additional 2,156 shares in the last quarter. Toronto Dominion Bank raised its holdings in Incyte Corporation by 21.3% during the second quarter. Toronto Dominion Bank now owns 57,584 shares of the biopharmaceutical company’s stock valued at $7,250,000 after buying an additional 10,122 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in Incyte Corporation during the second quarter valued at about $403,000. Institutional investors and hedge funds own 91.06% of the company’s stock.
A number of equities analysts have recently weighed in on INCY shares. Jefferies Group LLC reissued a “buy” rating and issued a $148.00 price target on shares of Incyte Corporation in a report on Thursday, May 18th. Cowen and Company reissued a “buy” rating on shares of Incyte Corporation in a report on Monday, May 15th. J P Morgan Chase & Co set a $149.00 price target on Incyte Corporation and gave the stock a “buy” rating in a report on Thursday, May 18th. Credit Suisse Group reissued a “buy” rating on shares of Incyte Corporation in a report on Saturday, June 10th. Finally, BidaskClub raised Incyte Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Eight analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $140.16.
About Incyte Corporation
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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