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Incyte Was a Star Performer from August 10–17, 2015

Peter Neil - Author

Aug. 18 2020, Updated 5:24 a.m. ET

Incyte rises 10.26%

By market cap size, Incyte (INCY) is among the top ten holdings of the SPDR S&P Biotech ETF (XBI). Since XBI is an equal-weighted ETF, Incyte has a weight of 1.22% of the fund’s portfolio. From August 10–17, 2015, it rose 10.26% and outperformed all of the large-cap stocks like Gilead Sciences (GILD), Amgen (AMGN), Regeneron Pharmaceuticals (REGN), and Biogen (BIIB). They have returned 0.14%, -0.47%, 0.38%, and 2.36%, respectively. It outperformed the benchmark index for the same period.

The above graph reflects Incyte’s performance compared to the benchmark index and other top stocks.

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Incyte stock gained due to the high volume trading seen on August 17. The surge in the trading volumes could be because of the better-than-expected 2Q15 results that the company announced on August 4, 2015. According to the company’s press release, it announced its 2Q15 revenue at $163 million—compared to $100 million in 2Q14. It reported $142 million from the sale of Jakafi. It raised the 2015 revenue from Jakafi to $560–$575 million.

Moving averages and valuations

Incyte closed at $114.60 at the end of trade on August 17, 2015. The stock has been trading above the 20, 50, and 100-day moving averages. It’s trading closer to the upper Bollinger Band. This indicates that the stock might be moving to an overbought position. Incyte’s PBV (price-to-book value) ratio is at 374.27x—compared to the XBI’s average PBV ratio of 14.73x. The stock is trading at a very high PBV ratio compared to other stocks in XBI.


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