Incyte Co. (INCY) Director Sells $7,436,000.00 in Stock

Incyte Co. (NASDAQ:INCY) Director Paul A. Friedman sold 50,000 shares of the company’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $148.72, for a total transaction of $7,436,000.00. Following the completion of the sale, the director now directly owns 302,976 shares in the company, valued at $45,058,590.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Incyte Co. (NASDAQ:INCY) traded up 0.38% on Monday, reaching $148.52. 1,744,105 shares of the company’s stock traded hands. Incyte Co. has a 12 month low of $62.63 and a 12 month high of $153.15. The company has a market cap of $28.13 billion, a PE ratio of 275.04 and a beta of 0.78. The firm’s 50 day moving average price is $129.91 and its 200 day moving average price is $105.70.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.13 by $0.08. Incyte had a return on equity of 50.38% and a net margin of 14.71%. The firm earned $326 million during the quarter, compared to analysts’ expectations of $324.90 million. During the same period in the previous year, the firm earned $0.29 earnings per share. The firm’s quarterly revenue was up 33.9% compared to the same quarter last year. On average, equities analysts expect that Incyte Co. will post $0.39 EPS for the current fiscal year.

Insider Buying and Selling by Quarter for Incyte (NASDAQ:INCY)

Your IP Address:

Several hedge funds and other institutional investors have recently modified their holdings of INCY. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Incyte by 1.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,322 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 22 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Incyte by 57.3% in the third quarter. Toronto Dominion Bank now owns 1,457 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 531 shares during the last quarter. Seven Bridges Advisors LLC increased its position in shares of Incyte by 27.1% in the third quarter. Seven Bridges Advisors LLC now owns 1,867 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 398 shares during the last quarter. Pinnacle Associates Ltd. purchased a new position in shares of Incyte during the fourth quarter valued at approximately $212,000. Finally, IFM Investors Pty Ltd purchased a new position in shares of Incyte during the fourth quarter valued at approximately $214,000. 92.62% of the stock is currently owned by institutional investors.

A number of research firms have recently commented on INCY. Cowen and Company reaffirmed an “outperform” rating on shares of Incyte in a research note on Wednesday, March 8th. Instinet assumed coverage on shares of Incyte in a research note on Wednesday, March 1st. They set a “buy” rating and a $148.00 target price on the stock. Nomura assumed coverage on shares of Incyte in a research note on Wednesday, March 1st. They set a “buy” rating on the stock. Jefferies Group LLC reissued a “buy” rating and set a $140.00 target price on shares of Incyte in a research note on Tuesday, February 21st. Finally, TheStreet raised shares of Incyte from a “c” rating to a “b-” rating in a research note on Tuesday, February 14th. One equities research analyst has rated the stock with a sell rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $122.86.

Incyte 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).

5 Day Chart for NASDAQ:INCY

Receive News & Ratings for Incyte Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply