Incyte Co. (NASDAQ:INCY) Director Wendy L. Dixon sold 10,576 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $84.16, for a total value of $890,076.16. Following the transaction, the director now owns 22,916 shares in the company, valued at $1,928,610.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of INCY stock traded up $2.34 during trading hours on Friday, reaching $85.10. The company’s stock had a trading volume of 870,200 shares, compared to its average volume of 1,276,004. The stock has a market capitalization of $18.12 billion, a P/E ratio of 103.78, a P/E/G ratio of 1.23 and a beta of 0.99. Incyte Co. has a one year low of $57.00 and a one year high of $89.30. The firm’s fifty day simple moving average is $78.11 and its 200 day simple moving average is $80.16. The company has a current ratio of 5.02, a quick ratio of 5.01 and a debt-to-equity ratio of 0.02.
Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.27. The firm had revenue of $551.58 million for the quarter, compared to analyst estimates of $534.73 million. Incyte had a return on equity of 20.07% and a net margin of 19.21%. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. As a group, equities research analysts forecast that Incyte Co. will post 2.14 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Banco Santander S.A. boosted its position in shares of Incyte by 23.9% during the third quarter. Banco Santander S.A. now owns 7,872 shares of the biopharmaceutical company’s stock valued at $584,000 after purchasing an additional 1,520 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Incyte during the third quarter valued at approximately $1,436,000. Massachusetts Financial Services Co. MA boosted its position in shares of Incyte by 217.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 477,984 shares of the biopharmaceutical company’s stock valued at $35,481,000 after purchasing an additional 327,456 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Incyte during the third quarter valued at approximately $46,000. Finally, Mengis Capital Management Inc. boosted its position in shares of Incyte by 260.8% during the third quarter. Mengis Capital Management Inc. now owns 9,380 shares of the biopharmaceutical company’s stock valued at $696,000 after purchasing an additional 6,780 shares in the last quarter. Institutional investors own 91.70% of the company’s stock.
A number of equities analysts have issued reports on INCY shares. ValuEngine cut Incyte from a “sell” rating to a “strong sell” rating in a report on Saturday, October 5th. JMP Securities increased their price target on Incyte from $107.00 to $110.00 and gave the stock a “market outperform” rating in a report on Monday, September 30th. BMO Capital Markets initiated coverage on Incyte in a research report on Thursday, September 12th. They set a “market perform” rating and a $85.00 target price on the stock. Nomura upped their target price on Incyte from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Mizuho reaffirmed a “buy” rating and set a $95.00 target price on shares of Incyte in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Incyte currently has a consensus rating of “Buy” and a consensus target price of $92.90.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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