Incyte Corporation (INCY) was Initiated by RBC Capital Mkts to “Outperform” and the brokerage firm has set the Price Target at $105. RBC Capital Mkts advised their investors in a research report released on Jul 13, 2016.
On the company’s financial health, Incyte Corporation reported $0.12 EPS for the quarter, based on the information available during the earnings call on May 9, 2016. Analyst had a consensus estimate of $0.12. The company had revenue of $263.50 million for the quarter, 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.
Incyte Corporation closed down -0.7 points or -0.82% at $85 with 8,84,374 shares getting traded on Monday. Post opening the session at $86.39, the shares hit an intraday low of $84.97 and an intraday high of $86.9 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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