Incyte Corporation (INCY) : The total negative money flow of $1.27 million on Tuesday indicates selling on strength. The inflow of money on upticks was $8.16 million, compared to $9.43 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.87. The negative money flow of $0 million in block trades reveals that the informed traders sold the stock on every bit of price strength.The transaction value of block trade on downtick was $0.1 million. The price action in the Incyte Corporation (INCY) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $81.4 with a gain of $0.07 , a change of 0.09% over the previous days close. The stock registered 0.44% for the week.
Also, Equity Analysts at the Barclays maintains the rating on Incyte Corporation (NASDAQ:INCY). The brokerage firm has issued a Overweight rating on the shares. The Analysts at the ratings agency raises the price target from $85 per share to $100 per share. The rating by the firm was issued on August 10, 2016.
Incyte Corporation has lost 1.12% in the last five trading days and dropped 10.02% in the last 4 weeks. Incyte Corporation has dropped 4.93% during the last 3-month period . Year-to-Date the stock performance stands at -25.33%.
Incyte Corporation (NASDAQ:INCY): The stock opened at $81.08 on Tuesday but the bulls could not build on the opening and the stock topped out at $81.78 for the day. The stock traded down to $80.49 during the day, due to lack of any buying support eventually closed down at $80.98 with a loss of -0.43% for the day. The stock had closed at $81.33 on the previous day. The total traded volume was 764,488 shares.
In a related news, The Securities and Exchange Commission has divulged that Huber Reid M, officer (EVP, Chief Scientific Officer) of Incyte Corp, had unloaded 10,000 shares at an average price of $87.96 in a transaction dated on August 2, 2016. The total value of the transaction was worth $879,600.
Incyte Corporation is a biopharmaceutical company focused on the discovery development and commercialization of small molecule drugs to treat serious unmet medical needs. The Companys compound JAKAFI (ruxolitinib) also known as INCB18424 and INC424 is an oral Janus associated kinase (JAK) inhibitor used for the treatment for patients with intermediate or highrisk myelofibrosis (MF) including primary MF postpolycythemia vera MF and postessential thrombocythemia MF. The Company has a second oral JAK1 and JAK2 inhibitor LY3009104 (INCB28050) , which is subject to a collaboration agreement with Eli Lilly and Company in , which Lilly received development and commercialization rights f