Incyte Corporation (NASDAQ:INCY) finished Friday with a subtraction of -$0.37 to close at $63.86, a downside of -0.58 percent. An average of 1,189,060 shares of common stock have been traded in the last five days. There was a fall of -$0.18 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 1,447,910 shares traded, while the 50-day average volume stands at 1,747,568.
INCY stock has increased by 1.88% in the last month. The company shares reached their 1-month lowest point of $62.20 on 08/01/23. With the stock rallying to its 52-week high on 01/26/23, shares of the company touched a low of $60.56 and a high of $86.29 in 52 weeks. It has reached a new high 10 times so far this year and lost -20.49% or -$16.46 in price. In spite of this, the price is down -25.99% from the 52-week high.
Insider Transactions
INCY stock investors should be aware that Incyte Corporation (INCY) stock had its last reported insider trading activity 25 days ago on Aug 01. In this transaction, the insider spent $1,361,216. EVP & General Counsel, Pasquale Maria E, disposed of 802 shares at a price of $84.06 on Jan 31. The insider now owns more than $67,416 worth of shares. Prior to that, EVP & General Counsel Pasquale Maria E went on to Sale 60,024 shares at $84.74 each on Jan 30. An amount of $5,086,569 was transacted.
Valuation Metrics
Incyte Corporation (INCY) has a trailing price-to-earnings (P/E) ratio of 39.23. The stock’s beta is 0.69. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.08, the price-to-book (PB) ratio at 3.01, and the price-to-cash flow ratio at 20.13.
Financial Health
The quick ratio of Incyte Corporation for the three months ended June 29 was 3.80, and the current ratio was 3.80, 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 June 29. Its gross profit as reported stood at $3.19 billion compared to revenue of $3.39 billion.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $203.55 million in the quarter, while revenues of $21.7 million were grew 20.69%. The analyst consensus anticipated Incyte Corporation’s latest quarter earnings to come in at $0.83 per share, but it turned out to be $0.99, a 19.30% surprise. For the quarter, EBITDA amounted to $214.08 million. Shareholders own equity worth $224.09 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 25 August was 42.29%, suggesting the stock is Neutral, with historical volatility in this time frame at 10.26%.
As of today, INCY’s price is $64.48 -0.28% or -$0.18 from its 5-day moving average. INCY is currently trading +1.22% higher than its 20-day SMA and -12.11% lower than its 100-day SMA. However, the stock’s current price level is +3.94% above the SMA50 and -15.86% below the SMA200.
The stochastic %K and %D were 23.62% and 33.35%, respectively, and the average true range (ATR) was 1.13. With the 14-day stochastic at 10.12% and the average true range at 1.16, the RSI (14) stands at 47.19%. The stock has reached -0.29 on the 9-day MACD Oscillator while the 14-day reading was at -0.57.
Analyst Ratings
Citigroup launched coverage on Incyte Corporation (NASDAQ: INCY) in its analyst report released on July 25, 2023. The firm assigned the stock a Buy rating. The consensus rating for Incyte Corporation (INCY) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell INCY, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 9 others rate it as a “buy”.
What is INCY’s price target for the next 12 months?
Analysts predict a range of price targets between $65.00 and $114.00, with a median target of $82.00. Taking a look at these predictions, the average price target given by analysts for Incyte Corporation (INCY) stock is $83.06.
