Incyte Corporation [INCY] Stock trading around $66.74 per share: What’s Next?



Incyte Corporation [NASDAQ: INCY] traded at a high on 11/24/21, posting a 4.59 gain after which it closed the day’ session at $66.74. The company report on November 9, 2021 that OLUMIANT® Long-Term Safety Profile Established Up to 9.3 Years in Integrated Analysis of More Than 3,700 Patients with Rheumatoid Arthritis.

OLUMIANT® (baricitinib) maintained a consistent safety profile in a long-term, integrated safety analysis of patients with rheumatoid arthritis (RA) who received OLUMIANT for 14,744 patient years of exposure, in line with previously published findings. Eli Lilly and Company (NYSE: LLY) and Incyte (NASDAQ: INCY) will present these results, along with real-world safety results from 3,445 patients with RA in Japan, at ACR Convergence 2021, the American College of Rheumatology’s virtual annual meeting taking place November 3-9, 2021. Detailed and additional results from the long-term, integrated safety study for OLUMIANT were recently published in the Annals of the Rheumatic Diseases.

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“Rheumatoid arthritis is a chronic inflammatory disease that requires long-term treatment to manage symptoms, including joint pain, swelling and tenderness, and if left uncontrolled, can be associated with significant morbidity complications,” said Professor Peter C. Taylor, M.D., Ph.D., Professor of Musculoskeletal Sciences at the University of Oxford, and lead author of this analysis. “As one of the longest safety trials for a JAK inhibitor in this disease, these data can help healthcare providers and people living with rheumatoid arthritis in better understanding OLUMIANT when considering treatment options that can be used for prolonged periods of time.”.

The results of the trading session contributed to over 5064280 shares changing hands. Over the past one week, the price volatility of Incyte Corporation stands at 2.68% while the volatility over the past one month is 3.03%.

The market cap for INCY stock reached $14.88 billion, with 220.84 million shares outstanding and 217.58 million shares in the current float. Compared to the average trading volume of 1.66M shares, INCY reached a trading volume of 5064280 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Incyte Corporation [INCY]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for INCY shares is $93.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on INCY stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BMO Capital Markets have made an estimate for Incyte Corporation shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on November 19, 2021. The new note on the price target was released on July 20, 2021, representing the official price target for Incyte Corporation stock. Previously, the target price had yet another raise to $70, while SVB Leerink analysts kept a Underperform rating on INCY stock.

The Average True Range (ATR) for Incyte Corporation is set at 1.85, with the Price to Sales ratio for INCY stock in the period of the last 12 months amounting to 5.11. The Price to Book ratio for the last quarter was 4.68, with the Price to Cash per share for the same quarter was set at 10.24. Price to Free Cash Flow for INCY in the course of the last twelve months was 27.38 with Quick ratio for the last quarter at 3.90.

How has INCY stock performed recently?

Incyte Corporation [INCY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.65. With this latest performance, INCY shares gained by 0.29% in over the last four-week period, additionally sinking by -19.28% over the last 6 months – not to mention a drop of -17.34% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for INCY stock in for the last two-week period is set at 53.07, with the RSI for the last a single of trading hit 57.80, and the three-weeks RSI is set at 50.08 for Incyte Corporation [INCY]. The present Moving Average for the last 50 days of trading for this stock 67.01, while it was recorded at 64.71 for the last single week of trading, and 77.02 for the last 200 days.

Incyte Corporation [INCY]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Incyte Corporation [INCY] shares currently have an operating margin of -9.01 and a Gross Margin at +93.94. Incyte Corporation’s Net Margin is presently recorded at -11.09.

Return on Total Capital for INCY is now -8.99, given the latest momentum, and Return on Invested Capital for the company is -11.16. Return on Equity for this stock declined to -11.35, with Return on Assets sitting at -8.44. When it comes to the capital structure of this company, Incyte Corporation [INCY] has a Total Debt to Total Equity ratio set at 2.36. Additionally, INCY Total Debt to Total Capital is recorded at 2.31, with Total Debt to Total Assets ending up at 1.72. Long-Term Debt to Equity for the company is recorded at 1.79, with the Long-Term Debt to Total Capital now at 1.75.

Reflecting on the efficiency of the workforce at the company, Incyte Corporation [INCY] managed to generate an average of -$166,778 per employee. Receivables Turnover for the company is 6.74 with a Total Asset Turnover recorded at a value of 0.76.Incyte Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.90 and a Current Ratio set at 3.90.

Earnings analysis for Incyte Corporation [INCY]

With the latest financial reports released by the company, Incyte Corporation posted 0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.75/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -69.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for INCY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Incyte Corporation go to 20.89%.

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Insider trade positions for Incyte Corporation [INCY]

There are presently around $13,078 million, or 93.80% of INCY stock, in the hands of institutional investors. The top three institutional holders of INCY stocks are: BAKER BROS. ADVISORS LP with ownership of 32,022,125, which is approximately 0.001% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 20,850,337 shares of the stock with an approximate value of $1.33 billion in INCY stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.21 billion in INCY stock with ownership of nearly -33.812% of the company’s market capitalization.

Positions in Incyte Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 255 institutional holders increased their position in Incyte Corporation [NASDAQ:INCY] by around 17,550,546 shares. Additionally, 222 investors decreased positions by around 16,795,706 shares, while 84 investors held positions by with 170,602,646 shares. The mentioned changes placed institutional holdings at 204,948,898 shares, according to the latest SEC report filing. INCY stock had 50 new institutional investments in for a total of 3,295,478 shares, while 67 institutional investors sold positions of 1,752,008 shares during the same period.



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