Incyte Co. (NASDAQ:INCY) Short Interest Up 18.2% in December

Incyte Co. (NASDAQ:INCY) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 8,241,237 shares, an increase of 18.2% from the November 30th total of 6,971,562 shares. Currently, 3.9% of the shares of the company are sold short. Based on an average trading volume of 1,559,472 shares, the short-interest ratio is currently 5.3 days.

In other Incyte news, insider David W. Gryska sold 6,760 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $98.87, for a total value of $668,361.20. Following the sale, the insider now directly owns 20,752 shares of the company’s stock, valued at $2,051,750.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David W. Gryska sold 3,915 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total transaction of $413,541.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,878 shares of company stock worth $4,636,494. 17.70% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in INCY. Gamco Investors INC. ET AL acquired a new stake in Incyte in the 2nd quarter valued at about $327,000. Blair William & Co. IL acquired a new stake in Incyte in the 2nd quarter valued at about $582,000. Bronfman E.L. Rothschild L.P. raised its holdings in Incyte by 41.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,343 shares of the biopharmaceutical company’s stock valued at $421,000 after acquiring an additional 980 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in Incyte in the 2nd quarter valued at about $26,423,000. Finally, Swiss National Bank raised its holdings in Incyte by 3.7% in the 2nd quarter. Swiss National Bank now owns 623,000 shares of the biopharmaceutical company’s stock valued at $78,442,000 after acquiring an additional 22,200 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

Shares of Incyte (NASDAQ:INCY) opened at $96.62 on Thursday. The company has a market cap of $20,390.00, a PE ratio of -120.78 and a beta of 0.74. 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 has a 1-year low of $92.91 and a 1-year high of $153.15.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.11. The company had revenue of $381.50 million during the quarter, compared to the consensus estimate of $360.34 million. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. Incyte’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. equities research analysts expect that Incyte will post -1.32 earnings per share for the current year.

Several equities research analysts have commented on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $172.00 price target on shares of Incyte in a report on Wednesday, January 3rd. Royal Bank of Canada raised shares of Incyte from a “sector perform” rating to an “outperform” rating and set a $136.00 price target on the stock in a report on Tuesday, January 2nd. Oppenheimer set a $120.00 price target on shares of Incyte and gave the company a “hold” rating in a report on Tuesday, January 2nd. Citigroup reissued a “market perform” rating and set a $120.00 target price (down from $135.00) on shares of Incyte in a research note on Tuesday, January 2nd. Finally, Goldman Sachs Group initiated coverage on shares of Incyte in a research note on Friday, October 6th. They set a “buy” rating and a $160.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $143.11.

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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).

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