Bros. Advisors Lp Baker Purchases 100,000 Shares of Incyte Corporation (INCY) Stock
Incyte Corporation (NASDAQ:INCY) Director Bros. Advisors Lp Baker bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were acquired at an average price of $132.00 per share, with a total value of $13,200,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Incyte Corporation (NASDAQ:INCY) traded down 3.63% during mid-day trading on Friday, reaching $129.46. 3,151,943 shares of the company traded hands. The stock’s 50-day moving average is $129.39 and its 200-day moving average is $130.36. Incyte Corporation has a 52 week low of $77.58 and a 52 week high of $153.15. The company’s market capitalization is $26.63 billion.
Incyte Corporation (NASDAQ:INCY) last posted its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business had revenue of $326.40 million for the quarter, compared to analysts’ expectations of $318.45 million. During the same quarter last year, the business posted $0.18 earnings per share. The business’s revenue was up 32.5% compared to the same quarter last year. On average, equities analysts predict that Incyte Corporation will post ($0.86) EPS for the current fiscal year.
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Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC purchased a new position in Incyte Corporation during the 1st quarter valued at about $105,000. D. Scott Neal Inc. purchased a new position in Incyte Corporation during the 2nd quarter valued at about $103,000. Cornerstone Advisors Inc. increased its holdings in Incyte Corporation by 19.6% during the 2nd quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 145 shares in the last quarter. FNY Partners Fund LP increased its holdings in Incyte Corporation by 4,825.0% during the 1st quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 965 shares in the last quarter. Finally, Exane Asset Management purchased a new position in Incyte Corporation during the 2nd quarter valued at about $126,000. Hedge funds and other institutional investors own 91.06% of the company’s stock.
A number of research analysts recently issued reports on the stock. Oppenheimer Holdings Inc. set a $125.00 target price on shares of Incyte Corporation and gave the company a “hold” rating in a research report on Thursday, May 18th. Jefferies Group LLC restated a “buy” rating and set a $148.00 target price on shares of Incyte Corporation in a research report on Thursday, July 27th. J P Morgan Chase & Co set a $149.00 target price on shares of Incyte Corporation and gave the company a “buy” rating in a research report on Thursday, May 18th. BMO Capital Markets restated an “outperform” rating and set a $166.00 target price (up from $155.00) on shares of Incyte Corporation in a research report on Monday, June 5th. Finally, Credit Suisse Group set a $152.00 target price on shares of Incyte Corporation and gave the company a “buy” rating in a research report on Sunday, July 16th. Eight analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $140.16.
Incyte Corporation Company Profile
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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