Incyte Corporation (NASDAQ:INCY) Director Paul A. Friedman sold 28,507 shares of Incyte stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $105.24, for a total transaction of $3,000,076.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Incyte Corporation (NASDAQ INCY) traded up $1.04 during mid-day trading on Thursday, hitting $94.83. 1,199,077 shares of the company’s stock were exchanged, compared to its average volume of 1,912,918. Incyte Corporation has a 12-month low of $92.91 and a 12-month high of $153.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82.
Incyte (NASDAQ:INCY) last released its quarterly earnings data 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 had a negative net margin of 10.90% and a negative return on equity of 12.91%. The firm 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 company earned $0.19 earnings per share. The company’s revenue for the quarter was up 41.6% compared to the same quarter last year. equities analysts predict that Incyte Corporation will post -1.33 EPS for the current year.
A number of research analysts recently weighed in on the stock. Cowen reiterated a “buy” rating on shares of Incyte in a research note on Tuesday. ValuEngine lowered shares of Incyte from a “hold” rating to a “sell” rating in a research report on Wednesday, November 29th. Royal Bank Of Canada reduced their price target on shares of Incyte from $136.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 21st. Oppenheimer set a $135.00 price target on shares of Incyte and gave the company a “hold” rating in a research report on Tuesday, October 31st. Finally, BMO Capital Markets boosted their price target on shares of Incyte from $162.00 to $166.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $145.65.
Institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. grew its holdings in Incyte by 9.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock worth $3,418,000 after purchasing an additional 2,455 shares during the period. Pinebridge Investments L.P. lifted its stake in shares of Incyte by 122.0% in the second quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock worth $9,392,000 after buying an additional 40,992 shares in the last quarter. Calamos Advisors LLC lifted its stake in shares of Incyte by 37.7% in the second quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock worth $14,244,000 after buying an additional 30,990 shares in the last quarter. Inverness Counsel LLC NY bought a new position in shares of Incyte in the third quarter worth approximately $330,000. Finally, Tredje AP fonden lifted its stake in shares of Incyte by 63.4% in the second quarter. Tredje AP fonden now owns 22,446 shares of the biopharmaceutical company’s stock worth $2,826,000 after buying an additional 8,706 shares in the last quarter. Institutional investors and hedge funds own 90.86% of the company’s stock.
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Incyte 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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