Incyte Corporation (NASDAQ:INCY - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $88.66 and last traded at $87.39, with a volume of 143675 shares traded. The stock had previously closed at $86.70.
Analyst Upgrades and Downgrades
Several research firms recently commented on INCY. Guggenheim reissued a "neutral" rating on shares of Incyte in a research note on Friday, September 19th. Royal Bank Of Canada boosted their price target on Incyte from $72.00 to $81.00 and gave the stock a "sector perform" rating in a research report on Wednesday, September 24th. Truist Financial upped their price target on Incyte from $73.00 to $79.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Stifel Nicolaus lifted their price objective on Incyte from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Finally, Wells Fargo & Company raised Incyte from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $67.00 to $89.00 in a report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Incyte has a consensus rating of "Hold" and an average target price of $83.64.
Get Our Latest Report on INCY
Incyte Stock Up 0.2%
The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. The firm has a market cap of $16.96 billion, a PE ratio of 19.74, a PEG ratio of 0.66 and a beta of 0.73. The company's 50 day moving average price is $82.62 and its two-hundred day moving average price is $70.39.
Insider Activity at Incyte
In other Incyte news, EVP Vijay K. Iyengar sold 1,177 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $69.86, for a total transaction of $82,225.22. Following the sale, the executive vice president owned 35,929 shares in the company, valued at approximately $2,509,999.94. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 1,192 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total transaction of $83,273.12. Following the completion of the sale, the executive vice president directly owned 37,630 shares of the company's stock, valued at approximately $2,628,831.80. This trade represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,257 shares of company stock worth $2,487,927. 17.80% of the stock is owned by company insiders.
Institutional Trading of Incyte
Several institutional investors have recently made changes to their positions in the business. Bank of Nova Scotia raised its holdings in shares of Incyte by 0.7% during the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company's stock worth $1,160,000 after purchasing an additional 124 shares during the period. MAI Capital Management grew its position in shares of Incyte by 19.9% during the 2nd quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company's stock valued at $51,000 after buying an additional 125 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Incyte by 1.7% during the second quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company's stock worth $612,000 after acquiring an additional 147 shares during the period. Farther Finance Advisors LLC lifted its holdings in Incyte by 10.1% in the second quarter. Farther Finance Advisors LLC now owns 1,706 shares of the biopharmaceutical company's stock worth $116,000 after acquiring an additional 156 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in Incyte by 0.8% in the second quarter. E Fund Management Co. Ltd. now owns 19,912 shares of the biopharmaceutical company's stock valued at $1,356,000 after acquiring an additional 158 shares during the period. Hedge funds and other institutional investors own 96.97% of the company's stock.
About Incyte
(
Get Free Report)
Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.
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