Incyte Co. (NASDAQ:INCY – Get Rating) was the target of a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 5,860,000 shares, an increase of 29.4% from the April 15th total of 4,530,000 shares. Based on an average trading volume of 1,600,000 shares, the short-interest ratio is presently 3.7 days. Approximately 2.7% of the shares of the stock are sold short.
Shares of NASDAQ:INCY opened at $74.51 on Tuesday. The company has a market cap of $16.50 billion, a P/E ratio of 17.74, a PEG ratio of 0.90 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 3.71. Incyte has a one year low of $61.91 and a one year high of $88.26. The business’s 50-day simple moving average is $77.34 and its 200 day simple moving average is $72.53.
Incyte (NASDAQ:INCY – Get Rating) last announced its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. Incyte had a return on equity of 12.77% and a net margin of 29.95%. The business had revenue of $733.20 million for the quarter, compared to the consensus estimate of $753.54 million. During the same period last year, the business posted $0.50 EPS. The company’s revenue was up 21.3% on a year-over-year basis. Analysts predict that Incyte will post 2.31 earnings per share for the current year.
A number of analysts have issued reports on the company. Stifel Nicolaus raised their price target on Incyte from $75.00 to $77.00 in a research note on Tuesday, May 3rd. Zacks Investment Research upgraded Incyte from a “sell” rating to a “hold” rating and set a $85.00 price objective on the stock in a report on Tuesday, April 5th. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday. Royal Bank of Canada upgraded Incyte from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $78.00 to $90.00 in a report on Tuesday, January 18th. Finally, Morgan Stanley raised their price objective on Incyte from $73.00 to $76.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $86.92.
In other Incyte news, EVP Barry P. Flannelly sold 43,993 shares of the firm’s stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $83.49, for a total value of $3,672,975.57. Following the sale, the executive vice president now directly owns 65,163 shares of the company’s stock, valued at approximately $5,440,458.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bros. Advisors Lp Baker purchased 292,972 shares of the firm’s stock in a transaction on Thursday, February 17th. The stock was acquired at an average cost of $67.74 per share, for a total transaction of $19,845,923.28. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 711,335 shares of company stock worth $49,689,821. Corporate insiders own 15.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of INCY. Morgan Stanley increased its holdings in Incyte by 3.5% during the 2nd quarter. Morgan Stanley now owns 606,554 shares of the biopharmaceutical company’s stock worth $51,029,000 after purchasing an additional 20,387 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Incyte by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 238,282 shares of the biopharmaceutical company’s stock worth $16,389,000 after purchasing an additional 2,376 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Incyte by 30.5% during the 3rd quarter. Alliancebernstein L.P. now owns 331,202 shares of the biopharmaceutical company’s stock worth $22,780,000 after purchasing an additional 77,369 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Incyte during the 3rd quarter worth approximately $1,136,000. Finally, Handelsbanken Fonder AB increased its holdings in Incyte by 5.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 71,944 shares of the biopharmaceutical company’s stock worth $4,948,000 after purchasing an additional 3,417 shares during the last quarter. Institutional investors own 92.78% of the company’s stock.
About Incyte (Get Rating)
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.