Incyte (NASDAQ:INCY) had its price objective hoisted by Piper Jaffray Companies from $85.00 to $95.00 in a report published on Wednesday, The Fly reports. They currently have an overweight rating on the biopharmaceutical company’s stock.
Several other analysts have also issued reports on the company. JPMorgan Chase & Co. reissued a buy rating and set a $90.00 price target on shares of Incyte in a report on Wednesday. Barclays lowered Incyte from an overweight rating to an equal weight rating and dropped their price objective for the stock from $90.00 to $82.00 in a research note on Friday, May 3rd. BidaskClub raised Incyte from a strong sell rating to a sell rating in a research note on Friday, May 3rd. Zacks Investment Research lowered Incyte from a strong-buy rating to a hold rating in a research note on Monday, April 29th. Finally, Cowen reaffirmed a buy rating on shares of Incyte in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $92.07.
NASDAQ:INCY traded down $0.44 during mid-day trading on Wednesday, hitting $77.20. 912,599 shares of the company traded hands, compared to its average volume of 1,382,443. Incyte has a one year low of $57.00 and a one year high of $88.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.21 and a current ratio of 5.22. The firm has a market capitalization of $16.65 billion, a PE ratio of 94.15 and a beta of 1.31.
In other news, EVP Paula J. Swain sold 10,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $87.01, for a total value of $870,100.00. Following the completion of the transaction, the executive vice president now owns 38,295 shares of the company’s stock, valued at $3,332,047.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 17.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. Norges Bank purchased a new stake in shares of Incyte in the fourth quarter worth about $186,630,000. Renaissance Technologies LLC lifted its position in shares of Incyte by 772.4% in the first quarter. Renaissance Technologies LLC now owns 841,000 shares of the biopharmaceutical company’s stock worth $72,334,000 after buying an additional 744,600 shares in the last quarter. FMR LLC lifted its position in shares of Incyte by 2,120.0% in the first quarter. FMR LLC now owns 657,610 shares of the biopharmaceutical company’s stock worth $56,561,000 after buying an additional 627,988 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Incyte by 88.2% in the fourth quarter. Two Sigma Investments LP now owns 1,211,513 shares of the biopharmaceutical company’s stock worth $77,040,000 after buying an additional 567,826 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Incyte in the first quarter worth about $37,747,000. 92.20% of the stock is owned by hedge funds and other institutional investors.
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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