Analysts at Guggenheim assumed coverage on shares of Incyte (NASDAQ:INCY) in a research report issued on Monday, September 17th, The Fly reports. The brokerage set a “neutral” rating on the biopharmaceutical company’s stock.
Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte in a report on Saturday, September 15th. Oppenheimer set a $70.00 price target on Incyte and gave the stock a “hold” rating in a report on Thursday, September 13th. BidaskClub downgraded Incyte from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 11th. Cowen reissued a “buy” rating on shares of Incyte in a research report on Tuesday, September 4th. Finally, Argus set a $83.00 price objective on Incyte and gave the stock a “buy” rating in a research report on Thursday, August 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $94.43.
Shares of NASDAQ INCY traded up $0.81 during midday trading on Monday, hitting $62.56. 1,671,986 shares of the stock traded hands, compared to its average volume of 1,942,822. The company has a market cap of $14.68 billion, a price-to-earnings ratio of 97.75 and a beta of 1.12. Incyte has a one year low of $60.22 and a one year high of $117.95. The company has a quick ratio of 4.32, a current ratio of 4.34 and a debt-to-equity ratio of 0.01.
In other news, EVP Barry P. Flannelly sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Paula J. Swain sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $70.00, for a total value of $700,000.00. Following the transaction, the executive vice president now directly owns 42,324 shares in the company, valued at approximately $2,962,680. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock worth $2,202,100 in the last ninety days. Insiders own 17.20% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of INCY. Rockefeller Capital Management L.P. purchased a new stake in Incyte during the 1st quarter worth about $106,000. Resources Investment Advisors Inc. increased its stake in Incyte by 93.8% in the 2nd quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 841 shares during the last quarter. Assetmark Inc. increased its stake in Incyte by 221.5% in the 1st quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 968 shares during the last quarter. Blackhawk Capital Partners LLC. increased its stake in Incyte by 162.5% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 1,575 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 975 shares during the last quarter. Finally, Optimum Investment Advisors bought a new position in Incyte in the 1st quarter worth about $142,000. 91.57% of the stock is currently owned by institutional investors and hedge funds.
Incyte Company Profile
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
Recommended Story: How to Track your Portfolio in Google Finance
Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.