Brokerages predict that Incyte Co. (NASDAQ:INCY) will post earnings of ($0.49) per share for the current fiscal quarter, Zacks Investment Research reports. Twenty analysts have issued estimates for Incyte’s earnings. The lowest EPS estimate is ($0.68) and the highest is $0.09. Incyte posted earnings of $0.15 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 426.7%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, February 15th.
According to Zacks, analysts expect that Incyte will report full-year earnings of ($1.34) per share for the current year, with EPS estimates ranging from ($1.49) to ($1.00). For the next fiscal year, analysts anticipate that the company will post earnings of $0.19 per share, with EPS estimates ranging from ($1.83) to $1.98. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Incyte.
Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. The firm had revenue of $381.50 million during the quarter, compared to analyst estimates of $360.34 million. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The business’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share.
A number of equities analysts have recently weighed in on the company. TheStreet lowered Incyte from a “c-” rating to a “d+” rating in a research note on Tuesday, December 5th. BMO Capital Markets upped their price objective on Incyte from $162.00 to $166.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 31st. Royal Bank of Canada dropped their price objective on Incyte from $136.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 21st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Incyte in a research note on Tuesday, October 31st. Finally, Citigroup reissued a “market perform” rating and set a $120.00 price target (down from $135.00) on shares of Incyte in a research note on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $143.71.
In other news, EVP Reid M. Huber sold 696 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $98.01, for a total value of $68,214.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David W. Gryska sold 6,760 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $98.87, for a total value of $668,361.20. Following the completion of the sale, the insider now owns 20,752 shares in the company, valued at $2,051,750.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,878 shares of company stock worth $4,636,494. Company insiders own 17.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of INCY. Vanguard Group Inc. raised its holdings in shares of Incyte by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after buying an additional 1,709,685 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Incyte in the third quarter worth approximately $125,065,000. Janus Henderson Group PLC raised its holdings in shares of Incyte by 4,570.1% in the second quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after buying an additional 1,022,979 shares during the period. Old Mutual Global Investors UK Ltd. raised its holdings in shares of Incyte by 374.4% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock worth $108,605,000 after buying an additional 734,235 shares during the period. Finally, Matrix Capital Management Company LP raised its holdings in shares of Incyte by 28.3% in the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after buying an additional 396,716 shares during the period. Hedge funds and other institutional investors own 90.76% of the company’s stock.
Incyte (NASDAQ:INCY) traded up $1.24 during midday trading on Tuesday, hitting $93.16. The stock had a trading volume of 1,912,640 shares, compared to its average volume of 1,590,000. The company has a market capitalization of $19,660.00, a price-to-earnings ratio of -116.45 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82. Incyte has a 1 year low of $88.81 and a 1 year high of $153.15.
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Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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