Incyte Corporation (INCY) reported quarterly earnings results on Monday, May-9-2016. The company reported $0.12 EPS for the quarter. Analysts had a consensus estimate of $0.12. The company posted revenue of $263.50 million in the period, compared to analysts expectations of $264.41 million. The company’s revenue was up 65.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.11 EPS.
Many Wall Street Analysts have commented on Incyte Corporation. Shares were Reiterated by Leerink Partners on Mar 30, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $94 .Incyte Corporation was Initiated by Morgan Stanley to “Overweight” on Mar 23, 2016. Shares were Reiterated by Argus on Feb 22, 2016 to “Buy” and Lowered the Price Target to $ 92 from a previous price target of $135 .
Incyte Corporation opened for trading at $69.77 and hit $72.3799 on the upside on Friday, eventually ending the session at $70.69, with a gain of 0.40% or 0.28 points. The heightened volatility saw the trading volume jump to 14,65,975 shares. Company has a market cap of $13,233 M.
In a different news, on Jan 20, 2016, Paula J Swain (EVP, Human Resources) sold 13,531 shares at $76.96 per share price. According to the SEC, on Jan 8, 2016, Richard S Levy (EVP, Chief Drug Dev Officer) sold 3,937 shares at $101.86 per share price. On Dec 14, 2015, Eric H. Siegel (EVP, General Counsel) sold 1,936 shares at $107.96 per share price, according to the Form-4 filing with the securities and exchange commission.
Incyte Corporation is a biopharmaceutical company focused on the discovery development and commercialization of small molecule drugs to treat serious unmet medical needs. The Company’s 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