Baker Bros. Advisors LP recently announced the acquisition of new stake in Incyte Corporation (NASDAQ:INCY). The institutional investor has increased its shareholding in the Healthcare company by 0.06% to 36.18 million shares with purchase of 20858.0 shares. This fresh investment now brings its stake to 16.23% valued currently at $2.69 billion. In addition, The Vanguard Group, Inc. raised its holdings by 0.29 million to 20.75 million shares. And BlackRock Fund Advisors has lifted its position by 0.27% or 37668.0 shares – to 13.8 million shares.
With over 1.91 million Incyte Corporation (INCY) shares trading Friday and a closing price of $63.57 on the day, the dollar volume was approximately $121.14 million. The shares have shown a negative half year performance of -17.13% and its price on 05/19/23 lost nearly -0.09%. Currently, there are 222.96M common shares owned by the public and among those 218.93M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for INCY have a consensus price objective of $81.52. The analysts have set the share’s price value over the next 12 months at a high of $109.00 and a low of $60.00. The average price target is 22.7% above its recent price level and a downside to the estimated low will see the stock lose -5.95% over that period. But an upside of 41.68% will see the stock hit the forecast high price target while median target price for the stock is $80.00.
Insiders at the company have transacted a total of 101 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 62 of these insider trades were purchases, accounting for 390,184 shares. Insider sales of the common stock occurred on 39 occasions, with total insider shares sold totaling 182,476 shares.
The top 3 mutual fund holders in Incyte Corporation are Dodge & Cox Stock Fund, Vanguard Total Stock Market ETF, and Vanguard Mid Cap Index Fund. Dodge & Cox Stock Fund owns 12.0 million shares of the company’s stock, all valued at over $893.09 million. Vanguard Total Stock Market ETF bought 46928.0 shares to see its total holdings expand to 5.86 million shares valued at over $436.01 million and representing 2.63% of the shares outstanding. Vanguard Mid Cap Index Fund bought 17769.0 shares to bring its total holdings to over 4.43 million shares at a value of $329.39 million. Vanguard Mid Cap Index Fund now owns shares totaling to 1.99% of the shares outstanding.
Shares of Incyte Corporation (NASDAQ: INCY) opened at $63.80, up $0.17 from a prior closing price of $63.63. However, the script later moved the day high at 64.33, down -0.09%. The company’s stock has a 5-day price change of -2.62% and -19.53% over the past three months. INCY shares are trading -20.85% year to date (YTD), with the 12-month market performance down to -13.38% lower. It has a 12-month low price of $63.06 and touched a high of $86.29 over the same period. INCY has an average intraday trading volume of 1.59 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.47%, -10.90%, and -15.15% respectively.
Institutional ownership of Incyte Corporation (NASDAQ: INCY) shares accounts for 98.50% of the company’s 222.96M shares outstanding. Mutual fund holders own 46.26%, while other institutional holders and individual stakeholders account for 50.50% and 19.77% respectively.
It has a market capitalization of $14.20B and a beta (3y monthly) value of 0.73. The stock’s trailing 12-month PE ratio is 43.90, while the earnings-per-share (ttm) stands at $1.45. The company has a PEG of 2.93 and a Quick Ratio of 3.90 with the debt-to-equity ratio at 0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.87% over the week and 2.23% over the month.
Analysts forecast that Incyte Corporation (INCY) will achieve an EPS of $0.85 for the current quarter, $1.02 for the next quarter and $4.69 for 2024. The lowest estimate earnings-per-share for the quarter is $0.58 while analysts give the company a high EPS estimate of $1.23. Comparatively, EPS for the current quarter was $1.01 a year ago. Earnings per share for the fiscal year are expected to decrease by -64.40%, and 38.03% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 24.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate Incyte Corporation (INCY) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 12 of the 22 advise that investors “hold,” and 0 rated it as a “Sell.”
