Baker Bros. Advisors LP has recently announced that it has increased stake in Incyte Corp. (NASDAQ:INCY) by 0.00%. After grabbing 36.18 million shares, the institutional investor is now in possession of 510.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 16.14% having worth around $1.97 billion. Moreover, The Vanguard Group, Inc. increased its share by 1.1 million to have a control over 22.47 million shares. And BlackRock Fund Advisors raised its holdings to 0.2 million shares by acquiring 16.05 million shares or 7.16% of the stake.
Incyte Corp. (INCY) concluded trading on 01/04/24 at a closing price of $66.59, with 2.76 million shares of worth about $183.52 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 5.93% during that period and on Thursday the price saw a gain of about 1.65%. Currently the company’s common shares owned by public are about 222.75M shares, out of which, 221.72M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 22 analysts are covering the INCY stock and their offered price forecasts bring an average price target of $75.85. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $93.00 and could fall to a lowest price of $58.00. The stock’s current price level is 12.21% above of average price target set by the analysts, while a rise to estimated low would result in loss of -14.81% for the stock. However, touching the estimated high of $93.00 would mean a gain of 28.4% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 85 times over the past 12 months. They bought 743,110 shares in 56 of the transactions. In 29 selling transactions, insiders dumped 194,362 shares.
Dodge & Cox Stock Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Incyte Corp. Dodge & Cox Stock Fund is currently holding 10.31 million shares of worth totaling $560.08 million. The company recently came selling -1.74 million shares which brought its stake up to 4.60% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 7502.0 shares, after which its hold over company’s outstanding shares expand to 2.66%, leaving 5.96 million shares with the mutual fund that have a worth of about $323.86 million. Vanguard 500 Index Fund, after buying 4.49 million shares, have now control over 2.00% of the stake in the company. It holds 19791.0 shares of worth $244.03 million.
Incyte Corp. (NASDAQ: INCY) started trading at $65.46, below -$0.05 from concluding price of the previous day. However, the stock later moved at a day high price of 67.36, or with a gain of 1.65%. Stock saw a price change of 6.24% in past 5 days and over the past one month there was a price change of 21.16%. Year-to-date (YTD), INCY shares are showing a performance of 6.05% which decreased to -16.29% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $50.27 but also hit the highest price of $86.29 during that period. The average intraday trading volume for Incyte Corp. shares is 1.91 million. The stock is currently trading 9.26% above its 20-day simple moving average (SMA20), while that difference is up 17.41% for SMA50 and it goes to 6.31% higher than SMA200.
Baker Bros. Advisors LP acquired 36.18 million shares of Incyte Corp. having value of about $1.97 billion. Data submitted at the U.S SEC by Baker Bros. Advisors LP revealed that the firm now holds 510.0 shares in the company valued at close to $33960.9, or have control over 0.00% stake in the company. Incyte Corp. (NASDAQ: INCY) currently have 222.75M outstanding shares and institutions hold larger chunk of about 97.22% of that. Holding of mutual funds in the company is about 45.78% while other institutional holders and individual stake holders have control over 53.38% and 20.15% of the stake respectively.
The stock has a current market capitalization of $14.92B and its 3Y-monthly beta is at 0.66. PE ratio of stock for trailing 12 months is 35.38, while it has posted earnings per share of $1.88 in the same period. Its PEG reads 1.54 and has Quick Ratio of 3.86 while making debt-to-equity ratio of 0.01. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for INCY, volatility over the week remained 2.73% while standing at 2.90% over the month.
Analysts are in expectations that Incyte Corp. (INCY) stock would likely to be making an EPS of $1.14 in the current quarter, while forecast for next quarter EPS is $0.82 and it is $4.56 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.83 which is $1.34 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.62 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 133.89% while it is estimated to increase by 20.80% in next year.
Analysts at 22 brokerage firms have issued recommendations for the Incyte Corp. (INCY)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.95. Out of those 22 Wall Street analysts, 11 recommended a “Buy” rating, while 10 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Leerink Partners on December 13, 2023 offering an Outperform rating for the stock and assigned a target price of $78 to it.
