Other equities research analysts have also issued research reports about the stock. BMO Capital Markets dropped their target price on shares of Incyte from $85.00 to $74.00 and set a “market perform” rating for the company in a report on Friday, January 3rd. BidaskClub lowered shares of Incyte from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. Credit Suisse Group dropped their target price on shares of Incyte from $90.00 to $86.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Mizuho lowered shares of Incyte from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $98.00 to $79.00 in a report on Thursday, January 2nd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $95.00 target price on shares of Incyte in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $91.54.
INCY stock traded down $0.26 during trading on Tuesday, reaching $80.64. The company had a trading volume of 15,444 shares, compared to its average volume of 1,760,126. The firm has a 50-day simple moving average of $88.16 and a 200-day simple moving average of $82.98. The company has a market cap of $17.55 billion, a price-to-earnings ratio of 98.26, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.01 and a current ratio of 5.02. Incyte has a twelve month low of $72.00 and a twelve month high of $96.79.
In other Incyte news, insider Paul Trower sold 15,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $93.76, for a total value of $1,406,400.00. Also, EVP Yao Wenqing sold 3,165 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $95.00, for a total transaction of $300,675.00. Following the completion of the transaction, the executive vice president now owns 98,473 shares in the company, valued at $9,354,935. The disclosure for this sale can be found here. Insiders sold 131,436 shares of company stock worth $11,391,310 in the last ninety days. 17.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of INCY. Commonwealth Bank of Australia lifted its holdings in Incyte by 49.2% in the second quarter. Commonwealth Bank of Australia now owns 376 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 124 shares during the period. Benjamin F. Edwards & Company Inc. increased its position 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 in the last quarter. Pathstone Family Office LLC purchased a new stake in Incyte during the 2nd quarter worth about $34,000. Captrust Financial Advisors purchased a new stake in Incyte in the 2nd quarter valued at about $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Incyte in the 3rd quarter valued at about $46,000. 90.90% of the stock is owned by institutional investors and hedge funds.
Incyte Company Profile
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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