Brokerages expect Incyte Co. (NASDAQ:INCY) to announce $0.40 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Incyte’s earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.44. Incyte reported earnings of $0.17 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 135.3%. The business is expected to issue its next earnings results on Tuesday, October 30th.
On average, analysts expect that Incyte will report full year earnings of $1.14 per share for the current financial year, with EPS estimates ranging from $0.98 to $1.29. For the next year, analysts anticipate that the firm will post earnings of $2.28 per share, with EPS estimates ranging from $1.41 to $3.40. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Incyte.
Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.22. The company had revenue of $521.50 million during the quarter, compared to the consensus estimate of $510.70 million. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. The firm’s revenue for the quarter was up 59.8% compared to the same quarter last year. During the same period last year, the business posted ($0.06) EPS.
Several analysts have recently commented on INCY shares. Zacks Investment Research downgraded Incyte from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. BidaskClub upgraded Incyte from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. Raymond James reaffirmed a “buy” rating on shares of Incyte in a research report on Friday, July 27th. Evercore ISI raised shares of Incyte from an “in-line” rating to an “outperform” rating and raised their price target for the company from $60.23 to $140.11 in a research report on Monday, June 11th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $88.00 price target on shares of Incyte in a research report on Sunday, June 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $100.51.
In other Incyte news, EVP Vijay K. Iyengar sold 606 shares of Incyte stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $71.34, for a total transaction of $43,232.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Paula J. Swain sold 10,000 shares of Incyte stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $73.21, for a total transaction of $732,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,606 shares of company stock worth $1,475,332. 17.20% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the business. Resources Investment Advisors Inc. lifted its position in shares of Incyte by 93.8% during the 2nd quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 841 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Incyte by 4.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,192 shares of the biopharmaceutical company’s stock worth $1,286,000 after buying an additional 850 shares in the last quarter. Tyers Asset Management LLC lifted its position in shares of Incyte by 22.0% during the 1st quarter. Tyers Asset Management LLC now owns 4,976 shares of the biopharmaceutical company’s stock worth $415,000 after buying an additional 896 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Incyte by 34.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,500 shares of the biopharmaceutical company’s stock worth $292,000 after buying an additional 900 shares in the last quarter. Finally, First Mercantile Trust Co. lifted its position in shares of Incyte by 75.8% during the 2nd quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 930 shares in the last quarter. 91.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of INCY traded up $0.97 during trading hours on Thursday, hitting $67.48. The stock had a trading volume of 1,202,000 shares, compared to its average volume of 2,024,208. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.34 and a quick ratio of 4.32. The company has a market cap of $14.20 billion, a PE ratio of 105.44 and a beta of 1.14. Incyte has a 1-year low of $60.22 and a 1-year high of $124.71.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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