Incyte Corporation (NASDAQ:INCY) EVP Reid M. Huber sold 696 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $98.01, for a total transaction of $68,214.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of Incyte Corporation (NASDAQ INCY) traded up $0.03 on Tuesday, hitting $93.71. 1,430,730 shares of the company’s stock were exchanged, compared to its average volume of 1,918,703. Incyte Corporation has a 1-year low of $93.49 and a 1-year high of $153.15. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. Incyte 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 during the quarter, compared to analysts’ expectations of $360.34 million. During the same period last year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. equities research analysts predict that Incyte Corporation will post -1.33 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in INCY. IFM Investors Pty Ltd purchased a new position in shares of Incyte in the third quarter valued at approximately $567,000. Piedmont Investment Advisors LLC purchased a new position in shares of Incyte in the third quarter valued at approximately $503,000. California Public Employees Retirement System boosted its stake in shares of Incyte by 2.8% in the third quarter. California Public Employees Retirement System now owns 359,272 shares of the biopharmaceutical company’s stock valued at $41,941,000 after purchasing an additional 9,672 shares during the period. Virtu Financial LLC purchased a new position in shares of Incyte in the third quarter valued at approximately $542,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of Incyte by 723.0% in the third quarter. Point72 Asset Management L.P. now owns 164,600 shares of the biopharmaceutical company’s stock valued at $19,215,000 after purchasing an additional 144,600 shares during the period. Institutional investors and hedge funds own 90.86% of the company’s stock.

Several research firms recently issued reports on INCY. BMO Capital Markets restated an “outperform” rating and set a $163.00 price objective (down from $172.00) on shares of Incyte in a research report on Monday, September 11th. Oppenheimer restated a “hold” rating and set a $135.00 price objective on shares of Incyte in a research report on Sunday, September 10th. Goldman Sachs Group began coverage on shares of Incyte in a research report on Friday, October 6th. They set a “buy” rating and a $160.00 price objective for the company. ValuEngine cut shares of Incyte from a “hold” rating to a “sell” rating in a research report on Wednesday, November 29th. Finally, Evercore ISI began coverage on shares of Incyte in a research report on Wednesday, August 16th. They set an “in-line” rating and a $135.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Incyte currently has an average rating of “Buy” and a consensus target price of $145.65.

TRADEMARK VIOLATION WARNING: “Incyte Corporation (INCY) EVP Sells $68,214.96 in Stock” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this article on another publication, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/12/05/incyte-corporation-incy-evp-sells-68214-96-in-stock.html.

About Incyte

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).

Insider Buying and Selling by Quarter for Incyte (NASDAQ:INCY)

Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with MarketBeat.com's FREE daily email newsletter.