BidaskClub downgraded shares of Incyte (NASDAQ:INCY) from a sell rating to a strong sell rating in a research note released on Thursday morning.
A number of other equities research analysts have also recently weighed in on INCY. Jefferies Group restated a buy rating on shares of Incyte in a research note on Friday, October 6th. Goldman Sachs Group initiated coverage on Incyte in a research note on Friday, October 6th. They set a buy rating and a $160.00 price objective for the company. JPMorgan Chase & Co. restated a buy rating on shares of Incyte in a research note on Wednesday, October 25th. BMO Capital Markets decreased their price objective on Incyte from $163.00 to $162.00 and set an outperform rating for the company in a research note on Thursday, October 26th. Finally, Oppenheimer set a $135.00 price objective on Incyte and gave the stock a hold rating in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $143.25.
Incyte (NASDAQ:INCY) opened at $85.92 on Thursday. Incyte has a 12-month low of $85.75 and a 12-month high of $153.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82. The stock has a market capitalization of $18,132.30, a price-to-earnings ratio of -107.40 and a beta of 0.59.
Large investors have recently made changes to their positions in the company. Inverness Counsel LLC NY purchased a new position in shares of Incyte in the third quarter worth about $330,000. LMR Partners LLP purchased a new position in shares of Incyte in the third quarter worth about $394,000. Swiss National Bank raised its stake in shares of Incyte by 3.0% in the third quarter. Swiss National Bank now owns 641,700 shares of the biopharmaceutical company’s stock worth $74,912,000 after purchasing an additional 18,700 shares during the last quarter. Matrix Capital Management Company LP raised its stake in shares of Incyte by 28.3% in the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after purchasing an additional 396,716 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Incyte by 0.6% in the third quarter. Prudential Financial Inc. now owns 236,699 shares of the biopharmaceutical company’s stock worth $27,633,000 after purchasing an additional 1,490 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.
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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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