What’s Next for INC Research Holdings Inc After Forming Double Top Pattern?

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The chart of INC Research Holdings Inc (INCR) shows a double top with $65.64 target or 48.00% above today’s $44.35 share price. The 6 months chart pattern indicates low risk for the $2.40B company. It was reported on Dec, 12 by Finviz.com. If the $65.64 price target is reached, the company will be worth $1.15 billion more. Double tops are rare but powerful chart patterns. The stock decreased 1.05% or $0.47 during the last trading session, hitting $44.35. About 709,213 shares traded hands or 34.78% up from the average. INC Research Holdings Inc (NASDAQ:INCR) has risen 47.92% since May 8, 2015 and is uptrending. It has outperformed by 50.94% the S&P500.

Out of 7 analysts covering INC Research Holdings (NASDAQ:INCR), 7 rate it “Buy”, 0 “Sell”, while 2 “Hold”. This means 78% are positive. $59 is the highest target while $39 is the lowest. The $52.43 average target is 23.45% above today’s ($44.35) stock price. INC Research Holdings was the topic in 5 analyst reports since August 14, 2015 according to StockzIntelligence Inc. Suntrust Robinson initiated the stock on November 19 with “Buy” rating.

According to Zacks Investment Research, “INC Research Holdings, Inc. is a global contract research organization. It provides the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. Its services include clinical trial management services comprising patient recruitment and retention, project management, clinical monitoring, drug safety/pharmacovigilance, medical affairs, quality assurance, regulatory and medical writing, and functional service; and data services consisting of clinical data management, electronic data capture, and biostatistics. INC Research Holdings, Inc. is headquartered in Raleigh, North Carolina.” Get a free copy of the Zacks research report on INC Research Holdings Inc (INCR).

The institutional sentiment decreased to 3.11 in 2015 Q3. Its down 2.26, from 5.37 in 2015Q2. The ratio fall, as 9 funds sold all INC Research Holdings Inc shares owned while 27 reduced positions. 38 funds bought stakes while 74 increased positions. They now own 92.52 million shares or 43.76% more from 64.35 million shares in 2015Q2.

Ontario Teachers Pension Plan Board holds 5.41% of its portfolio in INC Research Holdings Inc for 14.70 million shares. Incline Global Management Llc owns 528,673 shares or 4.67% of their US portfolio. Moreover, Timpani Capital Management Llc has 2.39% invested in the company for 147,995 shares. The Virginia-based Tamro Capital Partners Llc has invested 2.22% in the stock. Copper Rock Capital Partners Llc, a Massachusetts-based fund reported 481,796 shares.

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