Mizuho set a $41.00 price objective on INC Research (NASDAQ:INCR) in a report issued on Friday morning, Marketbeat.com reports. The brokerage currently has a neutral rating on the stock.
Several other brokerages have also commented on INCR. KeyCorp reaffirmed a market perform rating and issued a $46.00 price target (down previously from $68.00) on shares of INC Research in a research note on Monday, November 13th. Robert W. Baird lowered INC Research to an outperform rating and decreased their price target for the company from $67.00 to $46.00 in a research note on Friday, November 10th. Zacks Investment Research downgraded INC Research from a hold rating to a strong sell rating in a report on Thursday, November 16th. Jefferies Group reiterated a buy rating and issued a $55.00 price objective on shares of INC Research in a report on Friday, November 10th. Finally, TheStreet upgraded INC Research from a c rating to a b- rating in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $52.67.
INC Research (NASDAQ INCR) opened at $38.00 on Friday. INC Research has a 12 month low of $33.60 and a 12 month high of $61.10. The company has a market capitalization of $3,949.46, a price-to-earnings ratio of 17.36, a PEG ratio of 1.19 and a beta of 1.08. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.99.
In other INC Research news, CFO Gregory S. Rush sold 9,703 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $54.48, for a total transaction of $528,619.44. Following the sale, the chief financial officer now owns 78,593 shares in the company, valued at approximately $4,281,746.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Alistair Macdonald sold 2,348 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $54.60, for a total value of $128,200.80. Following the sale, the chief executive officer now owns 99,453 shares in the company, valued at approximately $5,430,133.80. The disclosure for this sale can be found here. Insiders sold a total of 16,733 shares of company stock worth $912,270 in the last quarter. Company insiders own 0.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of INCR. Lee Thomas H Partners LP purchased a new stake in INC Research during the 3rd quarter worth about $1,316,644,000. BlackRock Inc. increased its holdings in INC Research by 82.3% during the 2nd quarter. BlackRock Inc. now owns 6,461,899 shares of the company’s stock worth $378,020,000 after purchasing an additional 2,917,605 shares during the period. Janus Henderson Group PLC purchased a new stake in INC Research during the 2nd quarter worth about $99,424,000. State Street Corp increased its holdings in INC Research by 112.8% during the 2nd quarter. State Street Corp now owns 1,769,353 shares of the company’s stock worth $103,508,000 after purchasing an additional 937,864 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in INC Research by 1,337.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 598,039 shares of the company’s stock worth $31,277,000 after purchasing an additional 556,439 shares during the period. Institutional investors own 99.56% of the company’s stock.
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About INC Research
INC Research Holdings, Inc is a global contract research organization (CRO). The Company focuses on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services.
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