Are You Looking To Buy Incyte Corporation (INCY)? First, Read This

MNDY Stock
MNDY Stock

Incyte Corporation (NASDAQ:INCY) finished Wednesday with a subtraction of -$1.43 to close at $66.83, a downside of -2.09 percent. An average of 1,429,200 shares of common stock have been traded in the last five days. There was a fall of -$1.59 in the past week, and it reached a new high 17 times over the past 12 months. The last 20 days have seen an average of 1,256,660 shares traded, while the 50-day average volume stands at 1,392,120.

INCY stock has decreased by -9.19% in the last month. The company shares reached their 1-month lowest point of $66.83 on 09/21/22. With the stock rallying to its 52-week high on 04/08/22, shares of the company touched a low of $61.91 and a high of $84.86 in 52 weeks. It has reached a new high 17 times so far this year and lost -8.95% or -$6.57 in price. In spite of this, the price is down -21.25% from the 52-week high.

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Insider Transactions

62 days have passed since Incyte Corporation (INCY) last reported insider trading activity. Tray Thomas, who is Principal Accounting Officer, most recently acquired $1,564 shares at $83.13 per share on Jul 22. In this transaction, the insider spent $130,015. EVP & General Manager US, Flannelly Barry P, disposed of 2,873 shares at a price of $79.38 on Jul 07. The insider now owns more than $228,059 worth of shares. Prior to that, EVP, GMAPPS Iyengar Vijay K went on to Sale 5,787 shares at $79.38 each on Jul 07. An amount of $459,372 was transacted.

Valuation Metrics

Incyte Corporation (INCY) has a trailing price-to-earnings (P/E) ratio of 15.72. The stock’s beta is 0.67. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.49, the price-to-book (PB) ratio at 3.63, and the price-to-cash flow ratio at 22.41.

Financial Health

The quick ratio of Incyte Corporation for the three months ended March 30 was 3.90, and the current ratio was 3.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.01 and a total debt to equity ratio of 0.01 for the quarter ending March 30. Its gross profit as reported stood at $2.84 billion compared to revenue of $2.99 billion.

Earnings Surprise

For the three-month period that ended March 30, Incyte Corporation had $287.04 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $161.43 million in the quarter, while revenues of $37.99 million were grew 7.41%. The analyst consensus anticipated Incyte Corporation’s latest quarter earnings to come in at $0.67 per share, but it turned out to be $0.55, a -17.90% surprise. For the quarter, EBITDA amounted to $270.94 million. Shareholders own equity worth $222.43 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Incyte Corporation (INCY) price momentum. RSI 9-day as of the close on 21 September was 27.54%, suggesting the stock is oversold, with historical volatility in this time frame at 21.69%.

As of today, INCY’s price is $68.34 -2.32% or -$1.59 from its 5-day moving average. INCY is currently trading -8.44% lower than its 20-day SMA and -11.37% lower than its 100-day SMA. However, the stock’s current price level is -16.90% below the SMA50 and +1.60% above the SMA200.

The stochastic %K and %D were 24.95% and 26.02%, respectively, and the average true range (ATR) was 1.70. With the 14-day stochastic at 0.00% and the average true range at 1.72, the RSI (14) stands at 31.64%. The stock has reached -1.03 on the 9-day MACD Oscillator while the 14-day reading was at -1.66.

Analyst Ratings

Guggenheim downgraded Incyte Corporation (NASDAQ: INCY) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy.


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