Incyte Co. (NASDAQ:INCY) Sees Large Decline in Short Interest
Incyte Co. (NASDAQ:INCY – Get Free Report) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 8,270,000 shares, a decline of 10.7% from the November 15th total of 9,260,000 shares. Based on an average trading volume of 1,770,000 shares, the days-to-cover ratio is presently 4.7 days.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Mizuho decreased their target price on Incyte from $82.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday. SVB Leerink raised Incyte from a “market perform” rating to an “outperform” rating and set a $78.00 target price on the stock in a report on Wednesday, December 13th. Morgan Stanley decreased their target price on Incyte from $74.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 1st. JMP Securities reissued a “market outperform” rating and set a $93.00 target price on shares of Incyte in a report on Wednesday, December 13th. Finally, Royal Bank of Canada decreased their price objective on Incyte from $74.00 to $63.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 1st. Ten analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.79.
Read Our Latest Stock Report on INCY
Institutional Trading of Incyte
Several large investors have recently bought and sold shares of INCY. Cetera Advisor Networks LLC boosted its stake in Incyte by 7.4% in the first quarter. Cetera Advisor Networks LLC now owns 5,265 shares of the biopharmaceutical company’s stock valued at $418,000 after buying an additional 362 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of Incyte during the first quarter valued at about $323,000. D.A. Davidson & CO. boosted its stake in shares of Incyte by 4.8% during the first quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 150 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Incyte by 6.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,172 shares of the biopharmaceutical company’s stock valued at $1,999,000 after purchasing an additional 1,605 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Incyte by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 596,022 shares of the biopharmaceutical company’s stock valued at $47,338,000 after purchasing an additional 43,168 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.
Incyte Stock Performance
NASDAQ:INCY opened at $62.30 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 3.91. Incyte has a fifty-two week low of $50.27 and a fifty-two week high of $86.29. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.13 and a beta of 0.70. The stock has a fifty day moving average price of $55.34 and a 200-day moving average price of $60.00.
Incyte (NASDAQ:INCY – Get Free Report) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.91 earnings per share for the quarter, meeting the consensus estimate of $0.91. The business had revenue of $919.03 million for the quarter, compared to analyst estimates of $973.32 million. Incyte had a return on equity of 11.21% and a net margin of 11.78%. As a group, equities analysts anticipate that Incyte will post 3 EPS for the current fiscal year.
Incyte Company Profile (Get Free Report)
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, Europe, Japan, and internationally. The company offers JAKAFI (ruxolitinib), for the treatment of adults with intermediate or high-risk myelofibrosis; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Incyte, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Incyte wasn’t on the list.
While Incyte currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Original: MarketBeat News Feed: Incyte Co. (NASDAQ:INCY) Sees Large Decline in Short Interest