Incyte Co. (INCY) Given Consensus Rating of “Buy” by Analysts

Shares of Incyte Co. (NASDAQ:INCY) have been given a consensus rating of “Buy” by the twenty-eight ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation, seventeen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $142.68.

A number of equities analysts recently issued reports on INCY shares. BMO Capital Markets decreased their target price on shares of Incyte from $163.00 to $162.00 and set an “outperform” rating for the company in a research report on Thursday, October 26th. Royal Bank of Canada reduced their price objective on shares of Incyte from $136.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 21st. Nomura restated a “buy” rating on shares of Incyte in a research report on Thursday, February 1st. Oppenheimer set a $135.00 price objective on shares of Incyte and gave the company a “hold” rating in a research report on Tuesday, October 31st. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte in a research report on Tuesday, October 31st.

Shares of Incyte (NASDAQ INCY) traded up $3.02 on Tuesday, reaching $87.52. 1,745,100 shares of the company were exchanged, compared to its average volume of 1,788,240. The company has a market cap of $17,832.65, a price-to-earnings ratio of -108.81 and a beta of 0.59. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. Incyte has a 12-month low of $80.85 and a 12-month high of $153.15.

In other Incyte news, Director Paul A. Friedman sold 28,507 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $105.24, for a total value of $3,000,076.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vijay K. Iyengar sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $97.26, for a total transaction of $486,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,963 shares of company stock valued at $4,222,953. Corporate insiders own 17.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ascend Capital LLC purchased a new stake in shares of Incyte in the fourth quarter worth approximately $9,879,000. Princeton Capital Management LLC purchased a new stake in shares of Incyte in the fourth quarter worth approximately $811,000. Advantage Investment Management LLC lifted its position in shares of Incyte by 1,233.3% in the fourth quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock worth $189,000 after purchasing an additional 1,850 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of Incyte by 53.3% in the fourth quarter. ARK Investment Management LLC now owns 11,004 shares of the biopharmaceutical company’s stock worth $1,042,000 after purchasing an additional 3,825 shares in the last quarter. Finally, Carillon Tower Advisers Inc. purchased a new stake in shares of Incyte in the fourth quarter worth approximately $18,960,000. 90.02% of the stock is owned by institutional investors and hedge funds.

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Incyte Company Profile

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).

Analyst Recommendations for Incyte (NASDAQ:INCY)

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