Revenue Update on Incyte Corporation(NASDAQ:INCY)

Incyte Corporation(NASDAQ:INCY) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 14, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $326.498M. Analysts estimated a revenue of $324.900M. The revenues were 0.49% above the estimates. Earnings per share were $0.05. The reported EPS was below estimates by -64.29%. Analysts had estimated an EPS of $0.14.

Incyte Corporation (INCY) shares turned negative on Wednesdays trading session with the shares closing down -1 points or -0.82% at a volume of 8,54,934. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $122.9. The peak price level was also seen at $122.9 while the days lowest was $121.25. Finally the shares closed at $121.36. The 52-week high of the shares is $125.49 while the 52-week low is $60.3. According to the latest information available, the market cap of the company is $22,987 M.

Several Insider Transactions has been reported to the SEC. On Jan 11, 2017, Reid M Huber (EVP, Chief Scientific Officer) sold 11,739 shares at $113.55 per share price.Also, On Nov 17, 2016, Paula J Swain (EVP, Human Resources) sold 10,000 shares at $103.26 per share price.On Oct 11, 2016, Barry P Flannelly (EVP & General Manager US) sold 24,204 shares at $97.00 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

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