On January 31, 2023, Piper Sandler initiated coverage of Incyte with a Overweight recommendation.

Analyst Price Forecast Suggests 6.47% Upside

As of January 31, 2023, the average one-year price target for Incyte is $89.06. The forecasts range from a low of $63.63 to a high of $129.15. The average price target represents an increase of 6.47% from its latest reported closing price of $83.65.

The projected annual revenue for Incyte is $3,913MM, an increase of 17.48%. The projected annual EPS is $4.11, an increase of 3.91%.

What are large shareholders doing?

Baker Bros. Advisors holds 36,154,574 shares representing 16.25% ownership of the company. In it’s prior filing, the firm reported owning 36,154,117 shares, representing an increase of 0.00%. The firm increased its portfolio allocation in INCY by 1.26% over the last quarter.

Dodge & Cox holds 19,793,400 shares representing 8.90% ownership of the company. In it’s prior filing, the firm reported owning 20,067,845 shares, representing a decrease of 1.39%. The firm decreased its portfolio allocation in INCY by 5.29% over the last quarter.

DODGX – Dodge & Cox Stock Fund holds 12,219,700 shares representing 5.49% ownership of the company. In it’s prior filing, the firm reported owning 12,195,000 shares, representing an increase of 0.20%. The firm decreased its portfolio allocation in INCY by 5.35% over the last quarter.

Wellington Management Group Llp holds 10,322,426 shares representing 4.64% ownership of the company. In it’s prior filing, the firm reported owning 10,154,451 shares, representing an increase of 1.63%. The firm decreased its portfolio allocation in INCY by 86.89% over the last quarter.

Royal Bank Of Canada holds 9,206,851 shares representing 4.14% ownership of the company. In it’s prior filing, the firm reported owning 9,150,663 shares, representing an increase of 0.61%. The firm decreased its portfolio allocation in INCY by 5.72% over the last quarter.

Fund Sentiment

There are 1221 funds or institutions reporting positions in Incyte. This is an increase of 32 owner(s) or 2.69%.

Average portfolio weight of all funds dedicated to US:INCY is 0.2212%, a decrease of 3.4287%. Total shares owned by institutions increased in the last three months by 1.51% to 239,284K shares.

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.

This article originally appeared on Fintel

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