INC Research Holdings Inc. (NASDAQ:INCR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $57.00 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 12.32% from the company’s previous close.

According to Zacks, “INC Research Holdings, Inc. is a global contract research organization. It provides the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. Its services include clinical trial management services comprising patient recruitment and retention, project management, clinical monitoring, drug safety/pharmacovigilance, medical affairs, quality assurance, regulatory and medical writing, and functional service; and data services consisting of clinical data management, electronic data capture, and biostatistics. INC Research Holdings, Inc. is headquartered in Raleigh, North Carolina. “

Several other research firms also recently commented on INCR. Jefferies Group dropped their price target on shares of INC Research Holdings from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 17th. Goldman Sachs Group Inc. restated a “conviction-buy” rating and issued a $82.00 price target on shares of INC Research Holdings in a research note on Thursday, September 8th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $55.86.

Analyst Recommendations for INC Research Holdings (NASDAQ:INCR)

Shares of INC Research Holdings (NASDAQ:INCR) traded up 0.10% during trading on Tuesday, reaching $50.75. The company’s 50-day moving average price is $46.82 and its 200-day moving average price is $43.93. INC Research Holdings has a 12-month low of $34.19 and a 12-month high of $57.11. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 26.94 and a beta of 1.78.

INC Research Holdings (NASDAQ:INCR) last posted its quarterly earnings results on Monday, October 31st. The company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The business earned $259.56 million during the quarter, compared to the consensus estimate of $259.89 million. INC Research Holdings had a net margin of 6.58% and a return on equity of 49.42%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share. On average, equities research analysts forecast that INC Research Holdings will post $2.50 EPS for the current year.

In related news, CAO Christopher L. Gaenzle sold 4,734 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $43.14, for a total value of $204,224.76. Following the completion of the sale, the chief accounting officer now directly owns 19,252 shares of the company’s stock, valued at $830,531.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Gregory S. Rush sold 35,503 shares of the business’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $44.70, for a total transaction of $1,586,984.10. Following the completion of the sale, the vice president now directly owns 82,712 shares of the company’s stock, valued at $3,697,226.40. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in INCR. Goldman Sachs Group Inc. boosted its stake in shares of INC Research Holdings by 408.7% in the first quarter. Goldman Sachs Group Inc. now owns 70,668 shares of the company’s stock worth $2,912,000 after buying an additional 56,775 shares during the last quarter. A.R.T. Advisors LLC boosted its stake in shares of INC Research Holdings by 18.8% in the first quarter. A.R.T. Advisors LLC now owns 20,881 shares of the company’s stock worth $860,000 after buying an additional 3,300 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of INC Research Holdings by 116.5% in the first quarter. Panagora Asset Management Inc. now owns 110,852 shares of the company’s stock worth $4,568,000 after buying an additional 59,658 shares during the last quarter. Quotient Investors LLC acquired a new stake in shares of INC Research Holdings during the second quarter worth approximately $574,000. Finally, NN Investment Partners Holdings N.V. boosted its stake in shares of INC Research Holdings by 10.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 16,450 shares of the company’s stock worth $627,000 after buying an additional 1,540 shares during the last quarter. 95.60% of the stock is owned by hedge funds and other institutional investors.

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INC Research Holdings Company Profile

INC Research Holdings, Inc is a global contract research organization (CRO). The Company is focused on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services.

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