Incyte (NASDAQ:INCY)‘s stock had its “outperform” rating reiterated by research analysts at JMP Securities in a research report issued to clients and investors on Tuesday, The Fly reports. They currently have a $121.00 price objective on the biopharmaceutical company’s stock. JMP Securities’ target price would indicate a potential upside of 50.05% from the stock’s previous close.
INCY has been the subject of a number of other research reports. Morgan Stanley decreased their price objective on shares of Incyte from $89.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Royal Bank of Canada reiterated a “neutral” rating on shares of Incyte in a report on Monday, January 6th. Piper Jaffray Companies reiterated a “buy” rating and set a $95.00 price objective on shares of Incyte in a report on Thursday, January 2nd. Cantor Fitzgerald decreased their price objective on shares of Incyte from $75.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Finally, BidaskClub lowered shares of Incyte from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. Incyte has an average rating of “Hold” and a consensus target price of $91.54.
INCY traded down $0.26 on Tuesday, reaching $80.64. 15,444 shares of the company traded hands, compared to its average volume of 1,760,126. Incyte has a one year low of $72.00 and a one year high of $96.79. The firm has a fifty day simple moving average of $88.16 and a two-hundred day simple moving average of $82.98. The company has a market cap of $17.55 billion, a P/E ratio of 98.26, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The company has a quick ratio of 5.01, a current ratio of 5.02 and a debt-to-equity ratio of 0.02.
In other Incyte news, EVP Yao Wenqing sold 3,165 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $95.00, for a total transaction of $300,675.00. Following the transaction, the executive vice president now owns 98,473 shares of the company’s stock, valued at approximately $9,354,935. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Trower sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $93.76, for a total transaction of $1,406,400.00. Insiders have sold a total of 131,436 shares of company stock worth $11,391,310 in the last three months. Insiders own 17.10% of the company’s stock.
Several institutional investors have recently modified their holdings of INCY. Commonwealth Bank of Australia grew its position in shares of Incyte by 49.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 376 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 124 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Incyte by 617.7% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 445 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 383 shares during the last quarter. Pathstone Family Office LLC purchased a new position in shares of Incyte in the 2nd quarter worth approximately $34,000. Captrust Financial Advisors purchased a new position in shares of Incyte in the 2nd quarter worth approximately $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Incyte in the 3rd quarter worth approximately $46,000. 90.90% of the stock is currently owned by hedge funds and other institutional investors.
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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