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 research analysts have recently commented on INCY shares. Cowen and Company reiterated a “buy” rating on shares of Incyte Corp. in a report on Sunday, April 17th. Brean Capital reiterated a “buy” rating and set a $92.00 price target on shares of Incyte Corp. in a report on Tuesday, May 10th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Incyte Corp. in a report on Monday, May 2nd. Jefferies Group cut their price target on Incyte Corp. to $88.00 and set a “buy” rating for the company in a report on Wednesday, April 6th. Finally, Leerink Swann cut their price target on Incyte Corp. from $94.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, March 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $105.34.
The stock’s 50-day moving average is $81.55 and its 200-day moving average is $76.76. The stock has a market cap of $16.21 billion and a price-to-earnings ratio of 348.43.
Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.17. The company earned $263 million during the quarter, compared to analyst estimates of $266.38 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The company’s revenue was up 65.4% compared to the same quarter last year. On average, equities analysts forecast that Incyte Corp. will post $0.05 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the company. Globeflex Capital L P purchased a new stake in Incyte Corp. during the fourth quarter valued at $1,112,000. Suntrust Banks Inc. boosted its stake in Incyte Corp. by 111.1% in the fourth quarter. Suntrust Banks Inc. now owns 13,744 shares of the biopharmaceutical company’s stock valued at $1,490,000 after buying an additional 7,232 shares during the last quarter. Andra AP fonden boosted its stake in Incyte Corp. by 17.7% in the fourth quarter. Andra AP fonden now owns 17,300 shares of the biopharmaceutical company’s stock valued at $1,876,000 after buying an additional 2,600 shares during the last quarter. Trexquant Investment LP purchased a new stake in Incyte Corp. during the fourth quarter valued at $2,121,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Incyte Corp. by 128.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 25,029 shares of the biopharmaceutical company’s stock valued at $2,714,000 after buying an additional 14,061 shares during the last quarter.
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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