Incyte’s (INCY) “Buy” Rating Reaffirmed at Cowen
Several other equities analysts have also recently issued reports on INCY. Evercore ISI initiated coverage on shares of Incyte in a research note on Wednesday, August 16th. They set an in-line rating and a $135.00 target price on the stock. BMO Capital Markets restated an outperform rating and set a $172.00 target price on shares of Incyte in a research note on Monday, August 28th. Oppenheimer restated a hold rating and set a $135.00 target price on shares of Incyte in a research note on Thursday, August 31st. J P Morgan Chase & Co restated a buy rating and set a $149.00 target price on shares of Incyte in a research note on Thursday, August 31st. Finally, Raymond James Financial upgraded shares of Incyte from a market perform rating to an outperform rating and set a $159.00 target price on the stock in a research note on Monday, September 11th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Incyte currently has an average rating of Buy and an average target price of $145.65.
Shares of Incyte (INCY) traded up $0.03 during trading on Tuesday, reaching $93.71. 1,430,700 shares of the company were exchanged, compared to its average volume of 1,918,704. Incyte has a 52 week low of $93.49 and a 52 week high of $153.15. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01.
In other news, EVP Reid M. Huber sold 696 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $98.01, for a total transaction of $68,214.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 100,000 shares of Incyte stock in a transaction dated Friday, September 8th. The shares were acquired at an average cost of $132.00 per share, with a total value of $13,200,000.00. The disclosure for this purchase can be found here. Insiders have sold a total of 104,334 shares of company stock valued at $11,992,011 in the last ninety days. Insiders own 17.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in Incyte by 13.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 108 shares in the last quarter. Seven Eight Capital LP purchased a new stake in Incyte in the 2nd quarter worth approximately $129,000. IFP Advisors Inc increased its holdings in Incyte by 9.9% in the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the biopharmaceutical company’s stock worth $144,000 after acquiring an additional 103 shares in the last quarter. Sun Life Financial INC increased its holdings in Incyte by 9,069.2% in the 2nd quarter. Sun Life Financial INC now owns 1,192 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 1,179 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Incyte by 130.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,325 shares of the biopharmaceutical company’s stock worth $177,000 after acquiring an additional 750 shares in the last quarter. 90.86% of the stock is owned by 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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