Incyte Corp. (INCY) EVP Paula J. Swain Sells 20,000 Shares of Stock
Incyte Corp. (NASDAQ:INCY) EVP Paula J. Swain sold 20,000 shares of Incyte Corp. stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $90.00, for a total value of $1,800,000.00. Following the transaction, the executive vice president now owns 49,248 shares in the company, valued at approximately $4,432,320. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Incyte Corp. (NASDAQ:INCY) opened at 89.07 on Wednesday. The firm has a market capitalization of $16.75 billion, a price-to-earnings ratio of 242.04 and a beta of 0.71. The firm has a 50-day moving average price of $82.29 and a 200-day moving average price of $79.36. Incyte Corp. has a one year low of $55.00 and a one year high of $131.33.
Incyte Corp. (NASDAQ:INCY) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.20. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The firm had revenue of $208 million for the quarter, compared to the consensus estimate of $236.91 million. During the same quarter in the prior year, the business earned $0.05 EPS. The business’s revenue for the quarter was up 51.1% on a year-over-year basis. Analysts expect that Incyte Corp. will post $0.19 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of INCY. Fuller & Thaler Asset Management Inc. purchased a new position in Incyte Corp. during the second quarter worth $104,000. Acrospire Investment Management LLC increased its position in Incyte Corp. by 18.2% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 200 shares during the period. Seven Eight Capital LLC purchased a new position in Incyte Corp. during the first quarter worth $113,000. Walleye Trading LLC purchased a new position in Incyte Corp. during the second quarter worth $120,000. Finally, Fifth Third Bancorp increased its position in Incyte Corp. by 16.2% in the second quarter. Fifth Third Bancorp now owns 1,678 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 234 shares during the period. Hedge funds and other institutional investors own 92.32% of the company’s stock.
Several equities research analysts have commented on the company. Barclays PLC boosted their target price on Incyte Corp. from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 10th. Brean Capital restated a “buy” rating on shares of Incyte Corp. in a research note on Monday, June 6th. Jefferies Group restated a “buy” rating and issued a $98.00 target price on shares of Incyte Corp. in a research note on Wednesday, August 10th. Leerink Swann restated a “buy” rating on shares of Incyte Corp. in a research note on Monday, July 18th. Finally, Argus boosted their target price on Incyte Corp. from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have issued a buy rating to the stock. Incyte Corp. presently has a consensus rating of “Buy” and a consensus price target of $104.08.
About Incyte Corp.
Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).
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