Vijay K. Iyengar Sells 5,000 Shares of Incyte Co. (INCY) Stock

Incyte Co. (NASDAQ:INCY) EVP Vijay K. Iyengar sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $97.26, for a total value of $486,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Incyte Co. (NASDAQ:INCY) opened at $98.44 on Friday. The stock has a market capitalization of $21,310.55, a price-to-earnings ratio of -123.05 and a beta of 0.74. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52 week low of $92.91 and a 52 week high of $153.15.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.11. The business had revenue of $381.50 million for the quarter, compared to analysts’ expectations of $360.34 million. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The company’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share. analysts anticipate that Incyte Co. will post -1.33 EPS for the current year.

A number of research analysts have commented on the company. BMO Capital Markets restated an “outperform” rating and set a $163.00 price target (down from $172.00) on shares of Incyte in a research note on Monday, September 11th. Raymond James Financial restated a “buy” rating on shares of Incyte in a research note on Tuesday, December 12th. Oppenheimer restated a “hold” rating and set a $135.00 price target on shares of Incyte in a research note on Sunday, September 10th. Goldman Sachs Group assumed coverage on Incyte in a research note on Friday, October 6th. They set a “buy” rating and a $160.00 price target on the stock. Finally, Zacks Investment Research cut Incyte from a “hold” rating to a “sell” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Incyte currently has an average rating of “Buy” and an average target price of $143.11.

Several hedge funds and other institutional investors have recently made changes to their positions in INCY. Vanguard Group Inc. raised its stake in shares of Incyte by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after acquiring an additional 1,709,685 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Incyte in the third quarter valued at $125,065,000. Janus Henderson Group PLC increased its holdings in Incyte by 4,570.1% in the second quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock valued at $131,622,000 after buying an additional 1,022,979 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in Incyte by 374.4% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock valued at $108,605,000 after buying an additional 734,235 shares during the last quarter. Finally, Matrix Capital Management Company LP increased its holdings in Incyte by 28.3% in the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock valued at $226,225,000 after buying an additional 396,716 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This story was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://sportsperspectives.com/2018/01/05/vijay-k-iyengar-sells-5000-shares-of-incyte-co-incy-stock.html.

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).

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

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

Latest News

Leave a Reply