Incyte Corporation (INCY) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $0.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.20. Analysts had a consensus of $-0.02. The company posted revenue of $246.30 million in the period, compared to analysts expectations of $232.33 million. The company’s revenue was up 51.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.
Many Wall Street Analysts have commented on Incyte Corporation. Incyte Corporation was Initiated by SunTrust to “Buy” on Aug 5, 2016. RBC Capital Mkts Initiated Incyte Corporation on Jul 13, 2016 to “Outperform”, Price Target of the shares are set at $105.
Incyte Corporation closed down -2.8 points or -3.08% at $88.04 with 10,24,007 shares getting traded on Monday. Post opening the session at $90.68, the shares hit an intraday low of $87.9001 and an intraday high of $91.599 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Aug 2, 2016, Reid M Huber (EVP, Chief Scientific Officer) sold 10,000 shares at $87.96 per share price. According to the SEC, on Aug 2, 2016, Paula J Swain (EVP, Human Resources) sold 60,000 shares at $90.00 per share price. On Jan 8, 2016, Richard S Levy (EVP, Chief Drug Dev Officer) sold 3,937 shares at $101.86 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