Steven H. Stein Sells 2,111 Shares of Incyte Corporation (INCY) Stock
Incyte Corporation (NASDAQ:INCY) EVP Steven H. Stein sold 2,111 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $125.00, for a total value of $263,875.00. Following the completion of the transaction, the executive vice president now owns 18,687 shares in the company, valued at $2,335,875. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Incyte Corporation (INCY) traded down 0.62% during trading on Thursday, reaching $137.41. The company had a trading volume of 3,812,634 shares. The firm’s 50 day moving average is $129.05 and its 200 day moving average is $129.60. The company’s market capitalization is $28.27 billion. Incyte Corporation has a one year low of $77.58 and a one year high of $153.15.
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 Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The company had revenue of $326.40 million for the quarter, compared to the consensus estimate of $318.45 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The company’s revenue was up 32.5% compared to the same quarter last year. On average, equities research analysts predict that Incyte Corporation will post ($0.86) earnings per share for the current year.
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INCY has been the topic of a number of research analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $172.00 target price on shares of Incyte Corporation in a research note on Monday. Morgan Stanley restated an “overweight” rating and issued a $142.00 target price on shares of Incyte Corporation in a research note on Friday, May 19th. Zacks Investment Research upgraded Incyte Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. BidaskClub upgraded Incyte Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, TheStreet lowered Incyte Corporation from a “c+” rating to a “d+” rating in a research note on Thursday, May 4th. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Incyte Corporation presently has an average rating of “Buy” and an average price target of $140.16.
Large investors have recently modified their holdings of the company. Pillar Pacific Capital Management LLC boosted its stake in shares of Incyte Corporation by 41.0% in the first quarter. Pillar Pacific Capital Management LLC now owns 5,850 shares of the biopharmaceutical company’s stock valued at $782,000 after buying an additional 1,700 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Incyte Corporation by 13.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 524,635 shares of the biopharmaceutical company’s stock worth $70,128,000 after buying an additional 60,219 shares in the last quarter. Tyers Asset Management LLC acquired a new position in Incyte Corporation during the first quarter worth approximately $456,000. Great West Life Assurance Co. Can boosted its position in Incyte Corporation by 32.3% in the first quarter. Great West Life Assurance Co. Can now owns 162,133 shares of the biopharmaceutical company’s stock worth $21,660,000 after buying an additional 39,589 shares in the last quarter. Finally, Geneva Advisors LLC acquired a new position in Incyte Corporation during the first quarter worth approximately $1,102,000. 91.04% of the stock is currently owned by institutional investors.
Incyte Corporation 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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