Shares of Incyte Co. (NASDAQ:INCY) have been assigned an average rating of “Hold” from the twenty-four brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $92.67.
A number of equities research analysts recently commented on INCY shares. Royal Bank of Canada lowered Incyte from an “outperform” rating to a “sector perform” rating and set a $89.00 target price on the stock. in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. Argus upped their target price on Incyte from $83.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, February 25th. Barclays lowered Incyte from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $90.00 to $82.00 in a research report on Friday, May 3rd. Zacks Investment Research lowered Incyte from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 23rd. Finally, BidaskClub upgraded Incyte from a “strong sell” rating to a “sell” rating in a research report on Friday, May 3rd.
NASDAQ INCY traded down $0.44 during trading hours on Friday, reaching $77.20. The stock had a trading volume of 729,544 shares, compared to its average volume of 1,455,844. The firm has a market cap of $16.30 billion, a P/E ratio of 94.15 and a beta of 1.31. Incyte has a 52-week low of $57.00 and a 52-week high of $88.83. The company has a quick ratio of 5.21, a current ratio of 5.22 and a debt-to-equity ratio of 0.01.
In other Incyte news, EVP Paula J. Swain sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $87.01, for a total value of $870,100.00. Following the sale, the executive vice president now owns 38,295 shares in the company, valued at approximately $3,332,047.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 17.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in INCY. Dimensional Fund Advisors LP boosted its position in Incyte by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 287,924 shares of the biopharmaceutical company’s stock worth $19,889,000 after purchasing an additional 864 shares in the last quarter. Man Group plc raised its stake in shares of Incyte by 167.5% during the 3rd quarter. Man Group plc now owns 36,635 shares of the biopharmaceutical company’s stock worth $2,531,000 after buying an additional 22,938 shares during the period. Nordea Investment Management AB raised its stake in shares of Incyte by 18.7% during the 3rd quarter. Nordea Investment Management AB now owns 10,188 shares of the biopharmaceutical company’s stock worth $703,000 after buying an additional 1,607 shares during the period. Legal & General Group Plc raised its stake in shares of Incyte by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 777,438 shares of the biopharmaceutical company’s stock worth $53,706,000 after buying an additional 25,136 shares during the period. Finally, Vanguard Group Inc raised its stake in shares of Incyte by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 18,380,804 shares of the biopharmaceutical company’s stock worth $1,269,746,000 after buying an additional 120,700 shares during the period. Institutional investors and hedge funds own 92.20% of the company’s stock.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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