Incyte Co. (NASDAQ:INCY – Get Free Report) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 9,640,000 shares, a decrease of 10.7% from the August 31st total of 10,800,000 shares. Currently, 5.1% of the shares of the stock are short sold. Based on an average daily volume of 2,250,000 shares, the short-interest ratio is presently 4.3 days.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on INCY shares. BMO Capital Markets reaffirmed an “underperform” rating and issued a $48.00 price objective (down previously from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. Guggenheim lifted their price objective on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $67.00 price objective on shares of Incyte in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price on Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, William Blair reissued an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.24.
View Our Latest Stock Analysis on INCY
Insider Transactions at Incyte
Institutional Investors Weigh In On Incyte
Hedge funds have recently made changes to their positions in the company. MFA Wealth Advisors LLC purchased a new stake in shares of Incyte in the 2nd quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Incyte during the 1st quarter worth $28,000. Riverview Trust Co acquired a new position in Incyte during the 1st quarter valued at about $29,000. Fidelis Capital Partners LLC acquired a new position in Incyte during the 1st quarter valued at about $32,000. Finally, Innealta Capital LLC acquired a new position in Incyte during the 2nd quarter valued at about $32,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.
Incyte Price Performance
Shares of INCY stock opened at $65.83 on Friday. Incyte has a twelve month low of $50.27 and a twelve month high of $70.36. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 5.17 and a beta of 0.73. The stock has a fifty day simple moving average of $64.31 and a two-hundred day simple moving average of $59.96. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY – Get Free Report) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. Incyte’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that Incyte will post 0.66 EPS for the current fiscal year.
Incyte Company Profile
Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.
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