A number of other equities research analysts have also recently issued reports on the company. J P Morgan Chase & Co reiterated a buy rating and set a $149.00 price objective on shares of Incyte in a research note on Thursday, August 31st. Oppenheimer reiterated a hold rating and set a $135.00 price objective on shares of Incyte in a research note on Thursday, August 31st. BMO Capital Markets reiterated an outperform rating and set a $172.00 price objective on shares of Incyte in a research note on Monday, August 28th. Argus reiterated a buy rating and set a $150.00 price objective on shares of Incyte in a research note on Wednesday, September 13th. Finally, Royal Bank of Canada started coverage on Incyte in a research note on Thursday, September 14th. They set a sector perform rating and a $136.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $143.84.
Incyte (NASDAQ:INCY) traded up $0.44 during midday trading on Tuesday, reaching $96.41. The company’s stock had a trading volume of 3,270,325 shares, compared to its average volume of 1,422,630. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01. Incyte has a 12-month low of $92.91 and a 12-month high of $153.15.
In related news, EVP Reid M. Huber sold 696 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $98.01, for a total value of $68,214.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Herve Hoppenot sold 70,502 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $119.45, for a total value of $8,421,463.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,620 shares of company stock worth $11,903,297. 17.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC grew its holdings in Incyte by 8.3% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 236,789 shares of the biopharmaceutical company’s stock valued at $27,643,000 after buying an additional 18,234 shares in the last quarter. IFM Investors Pty Ltd acquired a new position in Incyte in the 3rd quarter valued at $567,000. Piedmont Investment Advisors LLC acquired a new position in Incyte in the 3rd quarter valued at $503,000. California Public Employees Retirement System grew its holdings in Incyte by 2.8% in the 3rd quarter. California Public Employees Retirement System now owns 359,272 shares of the biopharmaceutical company’s stock valued at $41,941,000 after buying an additional 9,672 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Incyte in the 3rd quarter valued at $542,000. 90.86% of the stock is currently owned by hedge funds and other institutional investors.
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Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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