Incyte (NASDAQ:INCY) Sets New 12-Month High – Should You Buy?

Incyte Co. (NASDAQ:INCY)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $76.38 and last traded at $76.25, with a volume of 156594 shares traded. The stock had previously closed at $76.13.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. William Blair reissued an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. Morgan Stanley boosted their price objective on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price target on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Wolfe Research started coverage on Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $76.74.

Incyte Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.84. The company has a 50 day moving average price of $66.04 and a 200 day moving average price of $61.97. The firm has a market cap of $14.68 billion, a PE ratio of 543.04, a PEG ratio of 6.49 and a beta of 0.71.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company earned $0.91 EPS. The company’s revenue was up 23.8% on a year-over-year basis. Sell-side analysts expect that Incyte Co. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Tray sold 572 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Incyte

Large investors have recently bought and sold shares of the company. MFA Wealth Advisors LLC acquired a new stake in shares of Incyte during the second quarter valued at $26,000. Fidelis Capital Partners LLC acquired a new stake in shares of Incyte during the first quarter valued at $32,000. Innealta Capital LLC acquired a new stake in shares of Incyte during the second quarter valued at $32,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Incyte during the second quarter valued at $36,000. Finally, Deseret Mutual Benefit Administrators boosted its stake in shares of Incyte by 37.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 164 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

About Incyte

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.