Guggenheim lifts Incyte Corporation [INCY] price estimate. Who else is bullish?

Incyte Corporation [NASDAQ: INCY] price surged by 0.97 percent to reach at $0.77. The company report on December 15, 2022 that Incyte to Present at Upcoming Investor Conferences.


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Incyte (Nasdaq:INCY) announced today that it will present at the following investor conferences during the month of January:.

Goldman Sachs Annual Healthcare CEOs Unscripted Conference: A View from the Top on Thursday, January 5, 2023 at 9:45 am (EST).

A sum of 3823362 shares traded at recent session while its average daily volume was at 1.52M shares. Incyte Corporation shares reached a high of $80.90 and dropped to a low of $78.89 until finishing in the latest session at $80.45.

The one-year INCY stock forecast points to a potential upside of 7.59. The average equity rating for INCY stock is currently 2.30, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $87.06 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 2.30. 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.

Guggenheim have made an estimate for Incyte Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 03, 2022. While these analysts kept the previous recommendation, Evercore ISI dropped their target price from $90 to $78. The new note on the price target was released on August 03, 2022, representing the official price target for Incyte Corporation stock. Previously, the target price had yet another raise to $76, while Wells Fargo analysts kept a Equal Weight rating on INCY stock. On February 09, 2022, analysts decreased their price target for INCY shares from 60 to 56.

The Average True Range (ATR) for Incyte Corporation is set at 1.66, with the Price to Sales ratio for INCY stock in the period of the last 12 months amounting to 5.33. The Price to Book ratio for the last quarter was 4.23, with the Price to Cash per share for the same quarter was set at 13.50. Price to Free Cash Flow for INCY in the course of the last twelve months was 24.97 with Quick ratio for the last quarter at 3.80.

INCY Stock Performance Analysis:

Incyte Corporation [INCY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.36. With this latest performance, INCY shares dropped by -2.32% in over the last four-week period, additionally plugging by 1.03% over the last 6 months – not to mention a rise of 8.07% 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 52.22, with the RSI for the last a single of trading hit 52.56, and the three-weeks RSI is set at 53.36 for Incyte Corporation [INCY]. The present Moving Average for the last 50 days of trading for this stock 79.64, while it was recorded at 79.87 for the last single week of trading, and 75.67 for the last 200 days.

Insight into Incyte Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Incyte Corporation [INCY] shares currently have an operating margin of +21.35 and a Gross Margin at +93.73. Incyte Corporation’s Net Margin is presently recorded at +31.76.

Return on Equity for this stock inclined to 29.73, with Return on Assets sitting at 22.17.

Incyte Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.80 and a Current Ratio set at 3.80.

INCY Stock EPS

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 17.00%.

Incyte Corporation [INCY] Insider Position Details

There are presently around $17,153 million, or 98.50% 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 36,154,574, which is approximately 0.001% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 21,228,061 shares of the stock with an approximate value of $1.71 billion in INCY stocks shares; and DODGE & COX, currently with $1.59 billion in INCY stock with ownership of nearly -1.368% of the company’s market capitalization.

Positions in Incyte Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 254 institutional holders increased their position in Incyte Corporation [NASDAQ:INCY] by around 15,274,939 shares. Additionally, 261 investors decreased positions by around 12,924,411 shares, while 82 investors held positions by with 185,018,548 shares. The mentioned changes placed institutional holdings at 213,217,898 shares, according to the latest SEC report filing. INCY stock had 64 new institutional investments in for a total of 1,128,865 shares, while 61 institutional investors sold positions of 1,521,286 shares during the same period.

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