Fintel reports that on October 1, 2024, Wolfe Research initiated coverage of Incyte (NasdaqGS:INCY) with a Outperform recommendation.
Analyst Price Forecast Suggests 10.21% Upside
As of September 25, 2024, the average one-year price target for Incyte is $75.03/share. The forecasts range from a low of $48.48 to a high of $96.60. The average price target represents an increase of 10.21% from its latest reported closing price of $68.08 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Incyte is 4,485MM, an increase of 16.28%. The projected annual non-GAAP EPS is 5.68.
What is the Fund Sentiment?
There are 1,339 funds or institutions reporting positions in Incyte. This is an increase of 26 owner(s) or 1.98% in the last quarter. Average portfolio weight of all funds dedicated to INCY is 0.19%, an increase of 9.34%. Total shares owned by institutions decreased in the last three months by 6.19% to 224,403K shares. 
The put/call ratio of INCY is 0.95, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 30,739K shares representing 15.96% ownership of the company. In its prior filing, the firm reported owning 36,180K shares , representing a decrease of 17.70%. The firm decreased its portfolio allocation in INCY by 7.90% over the last quarter.
Dodge & Cox holds 15,279K shares representing 7.93% ownership of the company. In its prior filing, the firm reported owning 15,416K shares , representing a decrease of 0.89%. The firm increased its portfolio allocation in INCY by 9.11% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 9,715K shares representing 5.04% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,287K shares representing 2.75% ownership of the company. In its prior filing, the firm reported owning 5,981K shares , representing a decrease of 13.12%. The firm decreased its portfolio allocation in INCY by 8.53% over the last quarter.
Renaissance Technologies holds 5,218K shares representing 2.71% ownership of the company. In its prior filing, the firm reported owning 5,676K shares , representing a decrease of 8.78%. The firm increased its portfolio allocation in INCY by 5.56% over the last quarter.
Incyte Background Information
(This description is provided by the company.)
Incyte is a Wilmington, Delaware-based, global biopharmaceutical company focused on finding solutions for serious unmet medical needs through the discovery, development and commercialization of proprietary therapeutics.
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This story originally appeared on Fintel.
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