Incyte (NASDAQ:INCY) Sets New 52-Week Low at $64.67

Incyte Co. (NASDAQ:INCY) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $64.67 and last traded at $64.67, with a volume of 2447 shares trading hands. The stock had previously closed at $64.81.

Several equities analysts have weighed in on the stock. TheStreet lowered shares of Incyte from a “b-” rating to a “c+” rating in a report on Friday, August 20th. JMP Securities reiterated a “buy” rating and issued a $124.00 target price on shares of Incyte in a report on Friday, September 24th. Royal Bank of Canada decreased their target price on shares of Incyte from $91.00 to $86.00 and set a “sector perform” rating on the stock in a report on Thursday, September 23rd. Truist Securities decreased their price objective on shares of Incyte from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 4th. Finally, Benchmark upgraded shares of Incyte from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Tuesday, July 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Incyte has a consensus rating of “Buy” and a consensus price target of $92.56.

The firm’s 50 day moving average is $72.39 and its two-hundred day moving average is $78.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 3.97. The stock has a market capitalization of $14.18 billion, a PE ratio of 42.25, a P/E/G ratio of 0.88 and a beta of 0.76.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 3rd. The biopharmaceutical company reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.26. Incyte had a net margin of 12.41% and a return on equity of 15.77%. The company had revenue of $705.71 million for the quarter, compared to the consensus estimate of $686.95 million. During the same period in the prior year, the firm posted $1.24 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Incyte Co. will post 2.25 EPS for the current year.

In related news, EVP Dashyant Dhanak sold 389 shares of the stock in a transaction on Friday, October 1st. The shares were sold at an average price of $68.67, for a total transaction of $26,712.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vijay K. Iyengar sold 4,911 shares of the firm’s stock in a transaction on Thursday, July 29th. The stock was sold at an average price of $78.29, for a total transaction of $384,482.19. The disclosure for this sale can be found here. Insiders sold a total of 5,688 shares of company stock worth $440,958 over the last ninety days. Insiders own 15.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. CX Institutional lifted its stake in shares of Incyte by 38.4% in the 2nd quarter. CX Institutional now owns 483 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 134 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Incyte by 2.0% in the second quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the biopharmaceutical company’s stock worth $622,000 after acquiring an additional 142 shares during the last quarter. Parallel Advisors LLC lifted its position in Incyte by 81.2% during the second quarter. Parallel Advisors LLC now owns 366 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 164 shares in the last quarter. Virtus ETF Advisers LLC lifted its position in shares of Incyte by 2.8% during the first quarter. Virtus ETF Advisers LLC now owns 7,204 shares of the biopharmaceutical company’s stock worth $585,000 after purchasing an additional 193 shares in the last quarter. Finally, National Asset Management Inc. lifted its position in shares of Incyte by 6.7% during the second quarter. National Asset Management Inc. now owns 3,203 shares of the biopharmaceutical company’s stock worth $270,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Incyte Company Profile (NASDAQ:INCY)

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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