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Incyte Corp. (INCY) Analysis & Forecast for 2024

Incyte Corp. (NASDAQ: INCY) is -9.27% lower on its value in year-to-date trading and has touched a low of $50.27 and a high of $76.04 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The INCY stock was last observed hovering at around $57.12 in the last trading session, with the day’s loss setting it -0.15%.

Currently trading at $56.97, the stock is -2.62% and -3.77% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.88 million and changing -0.26% at the moment leaves the stock -5.11% off its SMA200. INCY registered -18.97% loss for a year compared to 6-month gain of -3.62%. The firm has a 50-day simple moving average (SMA 50) of $2.48 and a 200-day simple moving average (SMA200) of $9.98.

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The stock witnessed a -5.02% loss in the last 1 month and extending the period to 3 months gives it a -9.11%, and is -1.30% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.67% over the week and 2.30% over the month.

Incyte Corp. (INCY) has around 2524 employees, a market worth around $12.79B and $3.70B in sales. Current P/E ratio is 21.54 and Fwd P/E is 10.64. Profit margin for the company is 16.17%. Distance from 52-week low is 13.33% and -25.08% from its 52-week high. The company has generated returns on investments over the last 12 months (11.42%).

Incyte Corp. quarterly earnings per share for the current quarter are estimated at $0.87 with sales reaching $931.6M over the same period.The EPS is expected to grow by 25.25% this year, but quarterly earnings will post 12.30% year-over-year. Quarterly sales are estimated to grow 8.40% in year-over-year returns.

Incyte Corp. (INCY) Top Institutional Holders

889 institutions hold shares in Incyte Corp. (INCY), with institutional investors hold 101.81% of the company’s shares. The shares outstanding are 224.29M, and float is at 221.84M with Short Float at 3.56%. Institutions hold 100.20% of the Float.

The top institutional shareholder in the company is Baker Brothers Advisors, LLC with over 36.18 million shares valued at $2.25 billion. The investor’s holdings represent 16.14% of the INCY Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 23.88 million shares valued at $1.49 billion to account for 10.66% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 21.87 million shares representing 9.76% and valued at over $1.36 billion, while Dodge & Cox Inc holds 8.60% of the shares totaling 19.28 million with a market value of $1.2 billion.

Incyte Corp. (INCY) Insider Activity

The most recent transaction is an insider sale by Stein Steven H,the company’sEVP & Chief Medical Officer. SEC filings show that Stein Steven H sold 7,365 shares of the company’s common stock on Jan 03 ’24 at a price of $65.51 per share for a total of $0.48 million. Following the sale, the insider now owns 90218.0 shares.

Incyte Corp. disclosed in a document filed with the SEC on Jan 02 ’24 that Iyengar Vijay K (EVP, GMAPPS) sold a total of 657 shares of the company’s common stock. The trade occurred on Jan 02 ’24 and was made at $65.00 per share for $42705.0. Following the transaction, the insider now directly holds 43412.0 shares of the INCY stock.

Still, SEC filings show that on Dec 13 ’23, Tray Thomas (Principal Accounting Officer) disposed off 1,067 shares at an average price of $62.37 for $66549.0. The insider now directly holds 23,436 shares of Incyte Corp. (INCY).

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