Shares of Incyte Co. (NASDAQ:INCY) have received a consensus recommendation of “Buy” from the twenty-six ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $91.56.
A number of research firms have issued reports on INCY. ValuEngine downgraded Incyte from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Morgan Stanley lifted their price target on Incyte from $82.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Oppenheimer upgraded Incyte from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $85.00 to $100.00 in a research note on Thursday, September 5th. They noted that the move was a valuation call. Leerink Swann set a $90.00 target price on Incyte and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Cowen restated a “buy” rating on shares of Incyte in a research note on Sunday, August 4th.
INCY stock traded down $0.42 during mid-day trading on Thursday, reaching $78.12. 805,337 shares of the company traded hands, compared to its average volume of 1,324,575. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 95.27 and a beta of 1.09. The company has a quick ratio of 5.59, a current ratio of 5.61 and a debt-to-equity ratio of 0.02. Incyte has a fifty-two week low of $57.00 and a fifty-two week high of $89.30. The firm’s 50 day moving average price is $81.31 and its 200 day moving average price is $81.51.
In related news, EVP Steven H. Stein sold 8,357 shares of Incyte stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $87.96, for a total value of $735,081.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Paula J. Swain sold 2,500 shares of Incyte stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president now directly owns 44,112 shares in the company, valued at approximately $3,528,960. The disclosure for this sale can be found here. Insiders sold a total of 118,540 shares of company stock worth $9,829,776 in the last ninety days. 17.10% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its holdings in shares of Incyte by 115,574.2% in the 2nd quarter. Bessemer Group Inc. now owns 564,490 shares of the biopharmaceutical company’s stock worth $47,959,000 after purchasing an additional 564,002 shares during the period. Amica Mutual Insurance Co. bought a new stake in shares of Incyte in the 2nd quarter worth approximately $407,000. Oak Ridge Investments LLC raised its holdings in shares of Incyte by 13.6% in the 1st quarter. Oak Ridge Investments LLC now owns 39,075 shares of the biopharmaceutical company’s stock worth $3,361,000 after purchasing an additional 4,680 shares during the period. Calamos Advisors LLC bought a new stake in shares of Incyte in the 2nd quarter worth approximately $412,000. Finally, Pinnacle Financial Partners Inc. bought a new stake in shares of Incyte in the 2nd quarter worth approximately $331,000. 91.76% of the stock is currently owned by 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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