The stock of Incyte Corporation (NASDAQ:INCY) decreased by -$0.29 on Friday to finish at $65.64, down -0.45 percent. The last five days have seen an average of 1,368,653 shares of common stock traded. 10 times new highs were reached in the current year, with a fall of -$14.69. The average number of shares traded over the last 20 days was 1,531,583, while the average volume over the last 50 days totaled 1,912,183.
INCY stock appreciated 6.27% since last month. On 07/18/23, the company’s shares reached a one-month low of $61.03. The stock touched a high of $86.29 on 01/26/23, after rallying from a low of $60.56 in 52 weeks. The price of INCY stock has declined by -18.28% or -$14.69 this year, reaching a new high 10 times. Still, the stock price is down -23.94% from the 52-week high.
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Insider Transactions
INCY stock investors should be aware that Incyte Corporation (INCY) stock had its last reported insider trading activity 13 days ago on Aug 01. On Aug 01, EVP & Chief Medical Officer Stein Steven H sold 21,511 shares at $63.28 each. This transaction resulted in the insider making $1,361,216. On Jan 31, Pasquale Maria E sold 802 shares at a price of US$84.06. After the transaction, the insider now owns 68,524 shares. EVP & General Counsel Pasquale Maria E had earlier sold 60,024 shares on Jan 30 for $84.74 a share. The transaction was completed for $5,086,569.
Valuation Metrics
Incyte Corporation (INCY) has a trailing price-to-earnings (P/E) ratio of 40.32. Beta for the stock is 0.69. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 4.16, the price-to-book (PB) ratio of 3.09, and the price-to-cash flow ratio of 20.51.
Financial Health
For the three months ended June 29, Incyte Corporation’s quick ratio was 3.80, while its current ratio was 3.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.01, and the total debt to equity ratio is 0.01. As far as profitability goes, gross margin for the trailing twelve months is 93.80% percent. Incyte Corporation’s EBITDA margin for the year ended June 29 was 19.66%, whereas its operating margin stood at 12.20% for the same period. Based on annual data, it had gross profit of $3.19 billion and revenue of $3.39 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. INCY’s return on assets (ROA) during the last 12 months has been 6.30%. There was a 8.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 8.20%.
Earnings Surprise
According to Incyte Corporation’s quarterly financial report for the quarter that ended June 29, it had $292.24 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $954.61 million, while revenues rose by 4.53% to $808.67 million. It was predicted that Incyte Corporation’s quarterly earnings would be $0.99, but it ended up being $0.83, beating the consensus by 19.30%. EBITDA was $214.08 million for the quarter. At the end of Incyte Corporation’s most recent quarter ended June 29, its liabilities totaled 1.47 billion, while its total debt was $39.74 million. Equity owned by shareholders amounts to $224.09 million.
Technical Picture
Here’s a quick look at Incyte Corporation’s (INCY) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 61.62%, suggesting the stock is Neutral, with a 24.00% historical volatility rate.
The stochastic %K and %D were 82.41% and 80.40% respectively, while the average true range (ATR) was 1.24. Based on the 14-day stochastic reading of 80.99%, the RSI (14) reading is 59.55%. On the 9-day MACD Oscillator, the stock is at 0.55, and the 14-day reading is at 1.25.
Analyst Ratings
In its analyst report released on July 25, 2023, Citigroup began covering Incyte Corporation (NASDAQ: INCY). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Incyte Corporation (INCY) an Overweight rating. INCY is a stock that is recommended for selling by 0 brokerage firms, while 11 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 9 others recommend it as a buy.
What is INCY’s price target for the next 12 months?
The current consensus forecast for the stock is between $65.00 and $114.00, with a median target price of $82.00. In analyzing these forecasts, the average price target given by analysts for Incyte Corporation (INCY) is $82.52.
