Traders Sell Shares of Incyte Corp. (INCY) on Strength (INCY)
Traders sold shares of Incyte Corp. (NASDAQ:INCY) on strength during trading on Thursday. $25.17 million flowed into the stock on the tick-up and $48.11 million flowed out of the stock on the tick-down, for a money net flow of $22.94 million out of the stock. Of all companies tracked, Incyte Corp. had the 0th highest net out-flow for the day. Incyte Corp. traded up $0.91 for the day and closed at $87.79
A number of equities research analysts have recently weighed in on INCY shares. Leerink Swann dropped their price target on Incyte Corp. from $94.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 30th. Jefferies Group decreased their target price on Incyte Corp. to $88.00 and set a “buy” rating for the company in a report on Wednesday, April 6th. BMO Capital Markets initiated coverage on Incyte Corp. in a report on Thursday, April 7th. They set an “outperform” rating and a $92.00 target price for the company. Cowen and Company reaffirmed a “buy” rating on shares of Incyte Corp. in a report on Wednesday, April 6th. Finally, Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Incyte Corp. in a report on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $105.34.
The stock has a market capitalization of $16.47 billion and a PE ratio of 353.99. The company has a 50 day moving average of $81.59 and a 200 day moving average of $76.88.
Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.17. The company earned $263 million during the quarter, compared to analysts’ expectations of $266.38 million. The firm’s revenue was up 65.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.11) EPS. On average, equities analysts predict that Incyte Corp. will post $0.05 EPS for the current fiscal year.
Several hedge funds and institutional investors recently made changes to their positions in INCY. Vanguard Group Inc. increased its position in shares of Incyte Corp. by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 11,685,539 shares of the biopharmaceutical company’s stock valued at $1,267,298,000 after buying an additional 606,470 shares during the period. GAM Holding AG increased its position in shares of Incyte Corp. by 372.0% in the fourth quarter. GAM Holding AG now owns 44,513 shares of the biopharmaceutical company’s stock valued at $4,827,000 after buying an additional 35,083 shares during the period. Eaton Vance Management increased its position in shares of Incyte Corp. by 28.8% in the fourth quarter. Eaton Vance Management now owns 155,012 shares of the biopharmaceutical company’s stock valued at $16,811,000 after buying an additional 34,685 shares during the period. KBC Group NV increased its position in shares of Incyte Corp. by 150.1% in the fourth quarter. KBC Group NV now owns 41,700 shares of the biopharmaceutical company’s stock valued at $4,522,000 after buying an additional 25,025 shares during the period. Finally, Trexquant Investment LP bought a new position in shares of Incyte Corp. during the fourth quarter valued at $2,121,000.
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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