Incyte Corp (NASDAQ: INCY) Loses -15.95% From High. Why That Could Change?

Currently, there are 224.29M common shares owned by the public and among those 189.60M shares have been available to trade.

The company’s stock has a 5-day price change of -12.43% and 9.99% over the past three months. INCY shares are trading 12.37% year to date (YTD), with the 12-month market performance up to 30.02% higher. It has a 12-month low price of $50.35 and touched a high of $83.95 over the same period. INCY has an average intraday trading volume of 1.91 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.07%, 1.62%, and 13.94% respectively.

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Institutional ownership of Incyte Corp (NASDAQ: INCY) shares accounts for 96.26% of the company’s 224.29M shares outstanding.

It has a market capitalization of $13.59B and a beta (3y monthly) value of 0.70. The stock’s trailing 12-month PE ratio is 499.72, while the earnings-per-share (ttm) stands at $0.14. The company has a PEG of 16.05 and a Quick Ratio of 1.82 with the debt-to-equity ratio at 0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.55% over the week and 3.61% over the month.

Earnings per share for the fiscal year are expected to decrease by -64.09%, and 367.53% over the next financial year. EPS should shrink at an annualized rate of 31.14% over the next five years, compared to 38.99% over the past 5-year period.

Looking at the support for the INCY, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on October 29, 2024, with the firm’s price target at $68-$90. Wolfe Research coverage for the Incyte Corp (INCY) stock in a research note released on October 01, 2024 offered a Outperform rating with a price target of $84. Truist was of a view on September 18, 2024 that the stock is Hold, while BMO Capital Markets gave the stock Underperform rating on July 02, 2024, issuing a price target of $52- $48. Deutsche Bank on their part issued Hold rating on May 23, 2024.

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