Royal Bank of Canada reissued their neutral rating on shares of Incyte (NASDAQ:INCY) in a research note released on Monday, January 6th, AnalystRatings.com reports.
INCY has been the topic of several other research reports. Mizuho downgraded shares of Incyte from a buy rating to a neutral rating and reduced their price objective for the company from $98.00 to $79.00 in a research note on Thursday, January 2nd. Citigroup reaffirmed an outperform rating and set a $96.00 price target (down previously from $100.00) on shares of Incyte in a research note on Friday, January 3rd. Oppenheimer cut their price target on shares of Incyte from $100.00 to $96.00 and set an outperform rating on the stock in a research note on Friday, January 3rd. JMP Securities cut their price target on shares of Incyte from $110.00 to $99.00 and set a market outperform rating on the stock in a research note on Friday, January 3rd. Finally, Credit Suisse Group cut their price target on shares of Incyte from $90.00 to $86.00 and set a neutral rating on the stock in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $91.54.
Shares of INCY stock traded up $0.07 during trading hours on Monday, hitting $80.61. The company’s stock had a trading volume of 243,300 shares, compared to its average volume of 1,760,126. The company has a current ratio of 5.02, a quick ratio of 5.01 and a debt-to-equity ratio of 0.02. The stock has a market cap of $17.55 billion, a price-to-earnings ratio of 98.30, a P/E/G ratio of 0.91 and a beta of 0.97. The business has a fifty day moving average of $88.16 and a 200-day moving average of $82.98. Incyte has a twelve month low of $72.00 and a twelve month high of $96.79.
In other news, insider Paul Trower sold 16,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $80.45, for a total value of $1,327,425.00. Following the transaction, the insider now directly owns 23,907 shares in the company, valued at approximately $1,923,318.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Yao Wenqing sold 2,040 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $85.00, for a total transaction of $173,400.00. Following the completion of the transaction, the executive vice president now owns 47,348 shares in the company, valued at $4,024,580. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 131,436 shares of company stock valued at $11,391,310. Company insiders own 17.10% of the company’s stock.
Large investors have recently modified their holdings of the stock. Commonwealth Bank of Australia lifted its position in Incyte by 49.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 376 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 124 shares during the last quarter. Pathstone Family Office LLC bought a new stake in Incyte in the 2nd quarter valued at about $34,000. Captrust Financial Advisors bought a new stake in Incyte in the 2nd quarter valued at about $35,000. Benjamin F. Edwards & Company Inc. lifted its position in Incyte by 617.7% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 445 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 383 shares during the last quarter. Finally, First Manhattan Co. bought a new stake in Incyte in the 2nd quarter valued at about $50,000. Hedge funds and other institutional investors own 90.90% of the company’s stock.
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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