David W. Gryska Sells 3,915 Shares of Incyte Corporation (INCY) Stock
Incyte Corporation (NASDAQ:INCY) insider David W. Gryska sold 3,915 shares of Incyte Corporation stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $105.63, for a total value of $413,541.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Incyte Corporation (INCY) traded down $2.88 during mid-day trading on Friday, reaching $105.08. 1,741,891 shares of the company’s stock were exchanged, compared to its average volume of 1,783,900.
Incyte Corporation (NASDAQ:INCY) last issued its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. Incyte Corporation had a negative net margin of 10.90% and a negative return on equity of 12.91%. The business had revenue of $381.50 million for the quarter, compared to analysts’ expectations of $360.34 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. equities analysts anticipate that Incyte Corporation will post -1.01 earnings per share for the current year.
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Hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. raised its holdings in Incyte Corporation by 9.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock valued at $3,418,000 after acquiring an additional 2,455 shares during the period. Pinebridge Investments L.P. raised its holdings in Incyte Corporation by 122.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock valued at $9,392,000 after acquiring an additional 40,992 shares during the period. Calamos Advisors LLC raised its holdings in Incyte Corporation by 37.7% during the 2nd quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock valued at $14,244,000 after acquiring an additional 30,990 shares during the period. Tredje AP fonden raised its holdings in Incyte Corporation by 63.4% during the 2nd quarter. Tredje AP fonden now owns 22,446 shares of the biopharmaceutical company’s stock valued at $2,826,000 after acquiring an additional 8,706 shares during the period. Finally, Inverness Counsel LLC NY bought a new stake in Incyte Corporation during the 3rd quarter valued at $330,000. 88.85% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on INCY shares. Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $135.00 price objective on shares of Incyte Corporation in a research report on Thursday, August 31st. BMO Capital Markets decreased their target price on Incyte Corporation from $163.00 to $162.00 and set an “outperform” rating for the company in a research report on Thursday, October 26th. Barclays PLC reaffirmed an “overweight” rating and issued a $165.00 target price (down from $180.00) on shares of Incyte Corporation in a research report on Wednesday, August 2nd. Royal Bank Of Canada began coverage on Incyte Corporation in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $136.00 target price for the company. Finally, Raymond James Financial, Inc. raised Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 target price for the company in a research report on Monday, September 11th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $144.98.
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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