Revenue Update on Incyte Corporation(NASDAQ:INCY)

Incyte Corporation(NASDAQ:INCY) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $246.29M. Analysts estimated a revenue of $235.24M. Earnings per share were $0.18. Analysts had estimated an EPS of $-0.01.

In a different note, SunTrust Robinson Humphrey said it Initiates Coverage on Incyte Corporation, according to a research note issued on Aug 5, 2016. The shares have been rated ‘Buy’ by the firm. RBC Capital said it Initiates Coverage on Incyte Corporation, according to a research note issued on Jul 13, 2016. The shares have been rated ‘Outperform’ by the firm.

Incyte Corporation (INCY) shares turned negative on Wednesdays trading session with the shares closing down -1.375 points or -1.77% at a volume of 12,83,444. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $78.56. The peak price level was also seen at $78.56 while the days lowest was $76.4. Finally the shares closed at $76.48. The 52-week high of the shares is $133.62 while the 52-week low is $55. According to the latest information available, the market cap of the company is $14,378 M.

Several Insider Transactions has been reported to the SEC. On Aug 2, 2016, Reid M Huber (EVP, Chief Scientific Officer) sold 10,000 shares at $87.96 per share price.Also, 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

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