Barry P. Flannelly Sells 24,204 Shares of Incyte Corp. (INCY) Stock
Incyte Corp. (NASDAQ:INCY) EVP Barry P. Flannelly sold 24,204 shares of the company’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $97.00, for a total value of $2,347,788.00. Following the transaction, the executive vice president now owns 13,595 shares of the company’s stock, valued at approximately $1,318,715. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Incyte Corp. (NASDAQ:INCY) opened at 89.53 on Friday. The firm has a market cap of $16.83 billion, a PE ratio of 243.29 and a beta of 0.54. Incyte Corp. has a one year low of $55.00 and a one year high of $124.98. The firm’s 50 day moving average price is $86.68 and its 200-day moving average price is $81.45.
Incyte Corp. (NASDAQ:INCY) last posted its earnings results 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. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The business had revenue of $208 million for the quarter, compared to analysts’ expectations of $236.91 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business’s revenue was up 51.1% compared to the same quarter last year. Equities analysts predict that Incyte Corp. will post $0.19 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of INCY. Candriam Luxembourg S.C.A. boosted its stake in Incyte Corp. by 23.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 338,061 shares of the biopharmaceutical company’s stock worth $27,039,000 after buying an additional 64,709 shares during the period. Capital Fund Management S.A. purchased a new stake in Incyte Corp. during the second quarter worth approximately $33,288,000. Royal Bank of Canada boosted its stake in Incyte Corp. by 119.9% in the first quarter. Royal Bank of Canada now owns 621,527 shares of the biopharmaceutical company’s stock worth $45,042,000 after buying an additional 338,904 shares during the period. Geode Capital Management LLC boosted its stake in Incyte Corp. by 4.8% in the first quarter. Geode Capital Management LLC now owns 1,068,236 shares of the biopharmaceutical company’s stock worth $77,372,000 after buying an additional 48,498 shares during the period. Finally, Douglass Winthrop Advisors LLC purchased a new stake in Incyte Corp. during the second quarter worth approximately $221,000. Institutional investors and hedge funds own 92.32% of the company’s stock.
A number of equities analysts recently commented on INCY shares. Zacks Investment Research downgraded Incyte Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. RBC Capital Markets restated an “outperform” rating and set a $116.00 target price on shares of Incyte Corp. in a report on Wednesday, September 28th. Argus upped their target price on Incyte Corp. from $92.00 to $98.00 and gave the company a “buy” rating in a report on Monday, September 26th. SunTrust Banks Inc. started coverage on Incyte Corp. in a report on Friday, August 5th. They set a “buy” rating and a $105.00 target price for the company. Finally, JMP Securities upped their target price on Incyte Corp. from $100.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have assigned a buy rating to the stock. Incyte Corp. presently has an average rating of “Buy” and an average target price of $105.64.
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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