BidaskClub lowered shares of Incyte (NASDAQ:INCY) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday, January 16th.
A number of other brokerages have also recently commented on INCY. BMO Capital Markets decreased their price objective on Incyte from $163.00 to $162.00 and set an outperform rating for the company in a research note on Thursday, October 26th. Royal Bank of Canada decreased their price objective on Incyte from $136.00 to $120.00 and set a sector perform rating for the company in a research note on Tuesday, November 21st. Oppenheimer set a $135.00 target price on Incyte and gave the stock a hold rating in a research report on Tuesday, October 31st. JPMorgan Chase & Co. reissued a buy rating on shares of Incyte in a research report on Tuesday, October 31st. Finally, Deutsche Bank began coverage on Incyte in a research report on Tuesday, December 12th. They set a hold rating and a $106.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Incyte has a consensus rating of Buy and an average target price of $143.25.
Shares of Incyte (INCY) traded up $0.58 during trading hours on Tuesday, hitting $84.50. The company had a trading volume of 2,399,153 shares, compared to its average volume of 1,750,000. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. The firm has a market cap of $17,830.00, a P/E ratio of -105.63 and a beta of 0.59. Incyte has a 1 year low of $80.85 and a 1 year high of $153.15.
In other Incyte news, EVP Vijay K. Iyengar sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $97.26, for a total transaction of $486,300.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul A. Friedman sold 28,507 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $105.24, for a total value of $3,000,076.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,963 shares of company stock worth $4,222,953. Company insiders own 17.70% of the company’s stock.
Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in shares of Incyte by 13.8% in the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 108 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Incyte in the second quarter valued at $129,000. Sun Life Financial INC increased its stake in Incyte by 9,069.2% in the second quarter. Sun Life Financial INC now owns 1,192 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,179 shares during the last quarter. Private Advisor Group LLC acquired a new position in Incyte in the third quarter valued at $203,000. Finally, Caxton Associates LP acquired a new position in Incyte in the third quarter valued at $257,000. Institutional investors and hedge funds own 90.36% of the company’s stock.
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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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