Incyte (NASDAQ:INCY) Sets New 52-Week High at $84.99

Incyte Co. (NASDAQ:INCYGet Rating)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $84.99 and last traded at $84.86, with a volume of 472298 shares changing hands. The stock had previously closed at $83.64.

Analysts Set New Price Targets

Several research analysts have recently issued reports on INCY shares. JPMorgan Chase & Co. cut their price target on Incyte from $86.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, October 24th. Wells Fargo & Company raised their price target on Incyte from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. TheStreet raised Incyte from a “c+” rating to a “b-” rating in a research note on Thursday, January 19th. Morgan Stanley boosted their target price on shares of Incyte from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 2nd. Finally, StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Incyte has a consensus rating of “Hold” and an average price target of $78.75.

Incyte Stock Performance

The company has a market cap of $18.85 billion, a PE ratio of 21.28, a P/E/G ratio of 1.12 and a beta of 0.70. The stock’s 50 day simple moving average is $80.67 and its two-hundred day simple moving average is $75.76. The company has a quick ratio of 3.75, a current ratio of 3.80 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCYGet Rating) last issued its earnings results on Tuesday, November 1st. The biopharmaceutical company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.10). Incyte had a return on equity of 9.04% and a net margin of 26.30%. The firm had revenue of $823.30 million during the quarter, compared to analysts’ expectations of $847.00 million. As a group, research analysts anticipate that Incyte Co. will post 2.14 earnings per share for the current year.

Insider Transactions at Incyte

In related news, insider Thomas Tray sold 1,223 shares of the stock in a transaction on Monday, December 19th. The stock was sold at an average price of $82.16, for a total value of $100,481.68. Following the completion of the sale, the insider now directly owns 16,606 shares in the company, valued at approximately $1,364,348.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Thomas Tray sold 1,223 shares of Incyte stock in a transaction on Monday, December 19th. The shares were sold at an average price of $82.16, for a total transaction of $100,481.68. Following the sale, the insider now owns 16,606 shares of the company’s stock, valued at approximately $1,364,348.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vijay K. Iyengar sold 17,324 shares of the firm’s stock in a transaction dated Friday, December 23rd. The shares were sold at an average price of $80.80, for a total value of $1,399,779.20. Following the sale, the executive vice president now owns 37,855 shares of the company’s stock, valued at $3,058,684. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,946 shares of company stock worth $3,765,933. 17.50% of the stock is currently owned by company insiders.

Institutional Trading of Incyte

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in shares of Incyte by 117.4% in the 1st quarter. Royal Bank of Canada now owns 7,682,752 shares of the biopharmaceutical company’s stock valued at $610,164,000 after buying an additional 4,148,559 shares during the period. Dodge & Cox grew its holdings in Incyte by 11.1% in the 2nd quarter. Dodge & Cox now owns 20,067,845 shares of the biopharmaceutical company’s stock worth $1,524,554,000 after buying an additional 2,007,555 shares in the last quarter. Barclays PLC raised its stake in Incyte by 197.1% during the 3rd quarter. Barclays PLC now owns 1,787,295 shares of the biopharmaceutical company’s stock valued at $119,106,000 after acquiring an additional 1,185,627 shares in the last quarter. LSV Asset Management raised its stake in shares of Incyte by 8,091.3% during the third quarter. LSV Asset Management now owns 1,073,065 shares of the biopharmaceutical company’s stock valued at $71,509,000 after purchasing an additional 1,059,965 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Incyte by 177.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,119,990 shares of the biopharmaceutical company’s stock worth $89,958,000 after purchasing an additional 716,447 shares during the period. Institutional investors and hedge funds own 95.08% of the company’s stock.

Incyte Company Profile

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Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development and commercialization of proprietary 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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