Incyte Co. (NASDAQ:INCY) Short Interest Update

Incyte Co. (NASDAQ:INCY) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 4,530,000 shares, a growth of 14.7% from the January 15th total of 3,950,000 shares. Based on an average daily trading volume, of 1,410,000 shares, the days-to-cover ratio is currently 3.2 days. Currently, 2.1% of the company’s shares are sold short.

A number of brokerages have recently issued reports on INCY. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte in a report on Tuesday, January 14th. Cantor Fitzgerald raised their price target on shares of Incyte from $65.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Bank of America reaffirmed a “neutral” rating and set a $82.00 price target on shares of Incyte in a research report on Tuesday, February 4th. Credit Suisse Group decreased their price objective on shares of Incyte from $90.00 to $86.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $80.00 price objective on shares of Incyte in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. Incyte presently has a consensus rating of “Hold” and an average price target of $91.45.

In other Incyte news, EVP Barry P. Flannelly sold 2,142 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $90.00, for a total transaction of $192,780.00. Following the completion of the sale, the executive vice president now directly owns 17,401 shares in the company, valued at $1,566,090. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paula J. Swain sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.12, for a total value of $202,800.00. Following the completion of the transaction, the executive vice president now owns 44,112 shares in the company, valued at $3,578,365.44. The disclosure for this sale can be found here. Insiders sold a total of 42,142 shares of company stock worth $3,931,005 over the last ninety days. Corporate insiders own 17.10% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Savior LLC purchased a new position in Incyte in the fourth quarter valued at about $27,000. Huntington National Bank acquired a new stake in Incyte during the 4th quarter valued at approximately $28,000. Advisory Alpha LLC increased its holdings in Incyte by 2,122.2% during the 4th quarter. Advisory Alpha LLC now owns 400 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 382 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Incyte by 617.7% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 445 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 383 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Incyte by 134.0% in the 4th quarter. Parallel Advisors LLC now owns 468 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 91.06% of the company’s stock.

Shares of NASDAQ INCY traded up $0.40 during trading on Friday, reaching $78.45. 1,370,174 shares of the stock were exchanged, compared to its average volume of 1,612,612. The business’s 50-day moving average price is $78.56 and its 200 day moving average price is $82.10. Incyte has a twelve month low of $71.84 and a twelve month high of $96.79. The company has a quick ratio of 5.01, a current ratio of 5.02 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $16.81 billion, a price-to-earnings ratio of 42.18, a price-to-earnings-growth ratio of 0.84 and a beta of 1.06.

Incyte (NASDAQ:INCY) last announced its earnings results on Thursday, February 13th. The biopharmaceutical company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.08. The business had revenue of $579.40 million during the quarter, compared to the consensus estimate of $558.13 million. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, sell-side analysts expect that Incyte will post 2.14 earnings per share for the current fiscal year.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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