Incyte Corp. (INCY) Sees Large Volume Increase
Shares of Incyte Corp. (NASDAQ:INCY) saw unusually-strong trading volume on Wednesday . Approximately 1,598,675 shares traded hands during trading, an increase of 27% from the previous session’s volume of 1,260,089 shares.The stock last traded at $86.32 and had previously closed at $81.90.
Several analysts recently issued reports on INCY shares. Morgan Stanley reaffirmed a “buy” rating on shares of Incyte Corp. in a report on Thursday, May 19th. Vetr downgraded shares of Incyte Corp. from a “strong-buy” rating to a “buy” rating and set a $76.50 price objective for the company. in a report on Monday, May 16th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Incyte Corp. in a report on Tuesday, May 10th. Brean Capital reaffirmed a “buy” rating and set a $92.00 price objective on shares of Incyte Corp. in a report on Tuesday, May 10th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $88.00 price objective on shares of Incyte Corp. in a report on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $105.93.
The company has a market cap of $15.41 billion and a PE ratio of 222.74. The company has a 50 day moving average price of $84.47 and a 200 day moving average price of $77.57.
Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.20. During the same period last year, the firm earned $0.05 earnings per share. The company had revenue of $208 million for the quarter, compared to the consensus estimate of $236.91 million. The company’s revenue for the quarter was up 51.1% compared to the same quarter last year. On average, equities research analysts forecast that Incyte Corp. will post $0.18 earnings per share for the current year.
In other news, EVP Paula J. Swain sold 60,000 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $90.00, for a total value of $5,400,000.00. Following the completion of the sale, the executive vice president now owns 89,248 shares of the company’s stock, valued at $8,032,320. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Reid M. Huber sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $87.96, for a total transaction of $879,600.00. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Incyte Corp. stock. Calvert Investment Management Inc. raised its position in shares of Incyte Corp. (NASDAQ:INCY) by 30.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,550 shares of the biopharmaceutical company’s stock after buying an additional 2,210 shares during the period. Calvert Investment Management Inc.’s holdings in Incyte Corp. were worth $1,036,000 at the end of the most recent reporting period.
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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