Insider Selling: Incyte Corporation (INCY) EVP Sells 714 Shares of Stock
Incyte Corporation (NASDAQ:INCY) EVP Barry P. Flannelly sold 714 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $124.25, for a total value of $88,714.50. Following the sale, the executive vice president now directly owns 15,496 shares of the company’s stock, valued at $1,925,378. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Incyte Corporation (NASDAQ INCY) traded down 0.51% during midday trading on Friday, reaching $119.15. The company’s stock had a trading volume of 2,995,901 shares. The stock’s market capitalization is $24.51 billion. Incyte Corporation has a 12 month low of $79.75 and a 12 month high of $153.15. The stock’s 50 day moving average is $127.79 and its 200 day moving average is $130.32.
Incyte Corporation (NASDAQ:INCY) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) 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 the consensus estimate of $318.45 million. During the same period in the previous year, the firm earned $0.18 EPS. Incyte Corporation’s revenue for the quarter was up 32.5% on a year-over-year basis. On average, analysts forecast that Incyte Corporation will post ($0.84) EPS for the current fiscal year.
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Several analysts have commented on INCY shares. Morgan Stanley reaffirmed an “overweight” rating and set a $142.00 price objective on shares of Incyte Corporation in a research note on Friday, May 19th. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $149.00 price objective on shares of Incyte Corporation in a research note on Thursday, August 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $148.00 price objective on shares of Incyte Corporation in a research note on Thursday, May 18th. Zacks Investment Research raised Incyte Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $172.00 price objective on shares of Incyte Corporation in a research note on Monday, August 28th. 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 a consensus price target of $142.16.
Hedge funds and other institutional investors have recently bought and sold shares of the business. D. Scott Neal Inc. bought a new position in shares of Incyte Corporation in the second quarter valued at $103,000. Tower Research Capital LLC TRC bought a new position in shares of Incyte Corporation in the first quarter valued at $105,000. Cornerstone Advisors Inc. increased its holdings in shares of Incyte Corporation by 19.6% in the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 145 shares in the last quarter. Exane Asset Management bought a new position in shares of Incyte Corporation in the second quarter valued at $126,000. Finally, Seven Eight Capital LP bought a new position in shares of Incyte Corporation in the second quarter valued at $129,000. 91.06% of the stock is currently owned by institutional investors.
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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