Wall Street brokerages expect Incyte Co. (NASDAQ:INCY) to post earnings of $0.39 per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Incyte’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.33. Incyte reported earnings per share of $0.17 in the same quarter last year, which indicates a positive year over year growth rate of 129.4%. The business is scheduled to announce its next earnings results before the market opens on Tuesday, October 30th.
On average, analysts expect that Incyte will report full-year earnings of $1.12 per share for the current fiscal year, with EPS estimates ranging from $0.98 to $1.21. For the next financial year, analysts forecast that the company will post earnings of $2.21 per share, with EPS estimates ranging from $1.41 to $2.88. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for 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 Zacks’ consensus estimate of $0.04 by $0.22. The business had revenue of $521.50 million during the quarter, compared to analysts’ expectations of $510.70 million. Incyte had a negative net margin of 5.92% and a positive return on equity of 1.74%. The company’s quarterly revenue was up 59.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) earnings per share.
A number of brokerages have recently commented on INCY. Zacks Investment Research cut shares of Incyte from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded shares of Incyte from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Cantor Fitzgerald began coverage on shares of Incyte in a research report on Monday, October 1st. They issued a “neutral” rating and a $73.00 target price for the company. Leerink Swann started coverage on shares of Incyte in a research report on Monday, September 24th. They issued a “market perform” rating and a $78.00 target price for the company. Finally, Guggenheim started coverage on shares of Incyte in a research report on Monday, September 17th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company. Incyte presently has an average rating of “Buy” and an average price target of $94.43.
Shares of NASDAQ INCY traded up $0.13 during mid-day trading on Wednesday, reaching $65.04. The company’s stock had a trading volume of 2,128,200 shares, compared to its average volume of 1,937,441. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of 101.63 and a beta of 1.12. The company has a quick ratio of 4.32, a current ratio of 4.34 and a debt-to-equity ratio of 0.01. Incyte has a 1-year low of $60.22 and a 1-year high of $117.95.
In related news, EVP Paula J. Swain sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $73.21, for a total transaction of $732,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,000 shares of company stock valued at $2,202,100. 17.20% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Resources Investment Advisors Inc. boosted its stake in Incyte by 93.8% during the second 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 during the period. Assetmark Inc. boosted its stake in Incyte by 221.5% during the first quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 968 shares during the period. First Mercantile Trust Co. boosted its stake in Incyte by 75.8% during the second 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 during the period. Qube Research & Technologies Ltd purchased a new position in Incyte during the second quarter worth about $161,000. Finally, Addison Capital Co purchased a new position in Incyte during the third quarter worth about $244,000. 91.57% of the stock is owned by institutional investors.
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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