Incyte (INCY) Rating Reiterated by Cowen
Incyte (NASDAQ:INCY)‘s stock had its “buy” rating reissued by analysts at Cowen in a research report issued on Tuesday.
Other analysts have also recently issued reports about the stock. BMO Capital Markets restated an “outperform” rating and set a $163.00 target price (down from $172.00) on shares of Incyte in a research report on Monday, September 11th. Oppenheimer restated a “hold” rating and set a $135.00 target price on shares of Incyte in a research report on Sunday, September 10th. Goldman Sachs Group started coverage on shares of Incyte in a research report on Friday, October 6th. They set a “buy” rating and a $160.00 target price on the stock. ValuEngine downgraded shares of Incyte from a “hold” rating to a “sell” rating in a report on Wednesday, November 29th. Finally, Evercore ISI started coverage on shares of Incyte in a report on Wednesday, August 16th. They set an “in-line” rating and a $135.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Incyte currently has an average rating of “Buy” and a consensus price target of $145.65.
Shares of Incyte (NASDAQ:INCY) traded up $0.03 during mid-day trading on Tuesday, reaching $93.71. 1,430,700 shares of the company’s stock traded hands, compared to its average volume of 1,918,704. Incyte has a 1-year low of $93.49 and a 1-year high of $153.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82.
In related news, EVP Reid M. Huber sold 696 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $98.01, for a total transaction of $68,214.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul A. Friedman sold 28,507 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $105.24, for a total transaction of $3,000,076.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,334 shares of company stock valued at $11,992,011. Corporate insiders own 17.70% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. grew its position in Incyte by 9.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock valued at $3,418,000 after buying an additional 2,455 shares during the period. Pinebridge Investments L.P. lifted its stake in shares of Incyte by 122.0% in the second quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock worth $9,392,000 after buying an additional 40,992 shares in the last quarter. Calamos Advisors LLC lifted its stake in shares of Incyte by 37.7% in the second quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock worth $14,244,000 after buying an additional 30,990 shares in the last quarter. Inverness Counsel LLC NY purchased a new position in shares of Incyte in the third quarter worth about $330,000. Finally, Tredje AP fonden lifted its stake in shares of Incyte by 63.4% in the second quarter. Tredje AP fonden now owns 22,446 shares of the biopharmaceutical company’s stock worth $2,826,000 after buying an additional 8,706 shares in the last quarter. 90.86% of the stock is 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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