Fintel reports that on April 23, 2024, Cantor Fitzgerald initiated coverage of Incyte (NasdaqGS:INCY) with a Neutral recommendation.
Analyst Price Forecast Suggests 48.87% Upside
As of April 17, 2024, the average one-year price target for Incyte is 76.86. The forecasts range from a low of 61.61 to a high of $96.60. The average price target represents an increase of 48.87% from its latest reported closing price of 51.63.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Incyte is 4,485MM, an increase of 21.36%. The projected annual non-GAAP EPS is 5.68.
What is the Fund Sentiment?
There are 1315 funds or institutions reporting positions in Incyte. This is an increase of 61 owner(s) or 4.86% in the last quarter. Average portfolio weight of all funds dedicated to INCY is 0.20%, an increase of 1.53%. Total shares owned by institutions increased in the last three months by 2.45% to 242,426K shares. 
The put/call ratio of INCY is 1.50, indicating a bearish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 36,179K shares representing 16.11% ownership of the company. In it’s prior filing, the firm reported owning 36,179K shares, representing an increase of 0.00%. The firm increased its portfolio allocation in INCY by 114.59% over the last quarter.
Dodge & Cox holds 16,090K shares representing 7.17% ownership of the company. In it’s prior filing, the firm reported owning 16,416K shares, representing a decrease of 2.02%. The firm increased its portfolio allocation in INCY by 0.34% over the last quarter.
DODGX – Dodge & Cox Stock Fund holds 10,137K shares representing 4.51% ownership of the company. In it’s prior filing, the firm reported owning 10,307K shares, representing a decrease of 1.68%. The firm decreased its portfolio allocation in INCY by 2.24% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 5,965K shares representing 2.66% ownership of the company. In it’s prior filing, the firm reported owning 5,909K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in INCY by 1.96% over the last quarter.
Renaissance Technologies holds 5,554K shares representing 2.47% ownership of the company. In it’s prior filing, the firm reported owning 4,797K shares, representing an increase of 13.64%. The firm increased its portfolio allocation in INCY by 14.26% 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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