Insider Selling: Incyte Corporation (INCY) EVP Sells $250,068.00 in Stock
Incyte Corporation (NASDAQ:INCY) EVP Eric H. Siegel sold 1,820 shares of Incyte Corporation stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $137.40, for a total transaction of $250,068.00. Following the transaction, the executive vice president now directly owns 23,553 shares in the company, valued at approximately $3,236,182.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Incyte Corporation (NASDAQ INCY) opened at 134.34 on Friday. The firm’s market capitalization is $27.63 billion. Incyte Corporation has a one year low of $77.58 and a one year high of $153.15. The company’s 50-day moving average is $129.39 and its 200-day moving average is $130.36.
Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.01. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The company had revenue of $326.40 million for the quarter, compared to the consensus estimate of $318.45 million. During the same quarter last year, the business posted $0.18 earnings per share. Incyte Corporation’s revenue was up 32.5% on a year-over-year basis. Equities analysts forecast that Incyte Corporation will post ($0.86) earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of INCY. D. Scott Neal Inc. bought a new position in Incyte Corporation during the 2nd quarter valued at $103,000. Tower Research Capital LLC TRC bought a new position in Incyte Corporation during the 1st quarter valued at $105,000. Cornerstone Advisors Inc. lifted its stake in Incyte Corporation by 19.6% during the 2nd quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 145 shares in the last quarter. Exane Asset Management bought a new position in Incyte Corporation during the 2nd quarter valued at $126,000. Finally, Seven Eight Capital LP bought a new position in Incyte Corporation during the 2nd quarter valued at $129,000. Institutional investors and hedge funds own 91.06% of the company’s stock.
A number of research analysts have weighed in on INCY shares. TheStreet raised shares of Incyte Corporation from a “d+” rating to a “c” rating in a research note on Wednesday, May 24th. Cowen and Company reaffirmed a “buy” rating on shares of Incyte Corporation in a research note on Monday, June 5th. Credit Suisse Group reaffirmed a “buy” rating on shares of Incyte Corporation in a research note on Saturday, June 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $166.00 price target (up previously from $155.00) on shares of Incyte Corporation in a research note on Monday, June 5th. Finally, Oppenheimer Holdings, Inc. set a $135.00 price target on shares of Incyte Corporation and gave the company a “hold” rating in a research note on Tuesday, June 6th. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $140.16.
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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