Incyte Corporation (NASDAQ:INCY) Director Paul A. Friedman sold 28,507 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this link.
Incyte Corporation (NASDAQ INCY) opened at $98.95 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81. Incyte Corporation has a 12-month low of $98.49 and a 12-month high of $153.15.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.11. The company had revenue of $381.50 million during the quarter, compared to analysts’ expectations of $360.34 million. Incyte Corporation had a negative net margin of 10.90% and a negative return on equity of 12.91%. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. research analysts expect that Incyte Corporation will post -1.33 earnings per share for the current fiscal year.
INCY has been the subject of several recent analyst reports. Oppenheimer Holdings, Inc. reiterated a “hold” rating and set a $135.00 price objective on shares of Incyte Corporation in a research note on Thursday, August 31st. BMO Capital Markets reduced their price objective on shares of Incyte Corporation from $163.00 to $162.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. Barclays PLC reiterated an “overweight” rating and set a $165.00 price objective (down previously from $180.00) on shares of Incyte Corporation in a research note on Wednesday, August 2nd. Royal Bank Of Canada initiated coverage on shares of Incyte Corporation in a research note on Thursday, September 14th. They set a “sector perform” rating and a $136.00 price objective for the company. Finally, Raymond James Financial, Inc. upgraded shares of Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 price objective for the company in a research note on Monday, September 11th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $146.41.
Hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its position in shares of Incyte Corporation by 9.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock valued at $3,418,000 after buying an additional 2,455 shares during the last quarter. Pinebridge Investments L.P. raised its position in shares of Incyte Corporation by 122.0% in the second quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock valued at $9,392,000 after buying an additional 40,992 shares during the last quarter. Calamos Advisors LLC raised its position in shares of Incyte Corporation by 37.7% in the second quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock valued at $14,244,000 after buying an additional 30,990 shares during the last quarter. Inverness Counsel LLC NY acquired a new stake in shares of Incyte Corporation in the third quarter valued at about $330,000. Finally, Tredje AP fonden raised its position in shares of Incyte Corporation by 63.4% in the second quarter. Tredje AP fonden now owns 22,446 shares of the biopharmaceutical company’s stock valued at $2,826,000 after buying an additional 8,706 shares during the last quarter. Institutional investors and hedge funds own 89.60% of the company’s stock.
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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