Analysts predict that Incyte Co. (NASDAQ:INCY) will announce $445.43 million in sales for the current quarter, according to Zacks. Thirteen analysts have provided estimates for Incyte’s earnings. The lowest sales estimate is $399.00 million and the highest is $524.28 million. Incyte reported sales of $326.44 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 36.5%. The firm is scheduled to report its next quarterly earnings results on Tuesday, August 7th.
According to Zacks, analysts expect that Incyte will report full year sales of $1.78 billion for the current year, with estimates ranging from $1.67 billion to $1.88 billion. For the next year, analysts forecast that the company will post sales of $2.06 billion per share, with estimates ranging from $1.93 billion to $2.28 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Incyte.
Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, May 1st. The biopharmaceutical company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. Incyte had a negative net margin of 10.90% and a negative return on equity of 0.74%. The company had revenue of $382.28 million during the quarter, compared to analyst estimates of $384.03 million. During the same period last year, the business earned $0.14 earnings per share. Incyte’s revenue was down .5% compared to the same quarter last year.
INCY has been the subject of a number of analyst reports. Oppenheimer restated a “hold” rating and issued a $110.00 price objective (down from $120.00) on shares of Incyte in a research report on Monday, January 22nd. Credit Suisse Group set a $145.00 price objective on shares of Incyte and gave the company a “buy” rating in a research report on Wednesday, February 14th. Raymond James restated a “buy” rating on shares of Incyte in a research report on Thursday, February 15th. SunTrust Banks restated a “buy” rating and issued a $80.00 price objective on shares of Incyte in a research report on Friday, April 6th. Finally, UBS upgraded shares of Incyte from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Thursday, April 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. Incyte has a consensus rating of “Buy” and a consensus target price of $115.71.
Shares of Incyte traded down $0.23, reaching $66.56, during trading hours on Thursday, MarketBeat.com reports. The stock had a trading volume of 1,068,500 shares, compared to its average volume of 2,331,631. The company has a current ratio of 3.86, a quick ratio of 3.84 and a debt-to-equity ratio of 0.01. Incyte has a 12 month low of $60.22 and a 12 month high of $140.11. The firm has a market capitalization of $14.38 billion, a P/E ratio of 104.00 and a beta of 0.72.
In other Incyte news, insider David W. Gryska sold 1,952 shares of Incyte stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.56, for a total transaction of $167,013.12. Following the transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at $1,105,606.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Reid M. Huber sold 1,958 shares of Incyte stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.55, for a total transaction of $167,506.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,910 shares of company stock valued at $5,328,920. 17.20% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the business. Sands Capital Management LLC raised its stake in shares of Incyte by 8.2% during the fourth quarter. Sands Capital Management LLC now owns 8,191,287 shares of the biopharmaceutical company’s stock worth $775,797,000 after acquiring an additional 621,323 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Incyte by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 1,938,238 shares of the biopharmaceutical company’s stock worth $183,205,000 after acquiring an additional 105,692 shares in the last quarter. Manning & Napier Group LLC raised its stake in shares of Incyte by 61.8% during the first quarter. Manning & Napier Group LLC now owns 1,875,220 shares of the biopharmaceutical company’s stock worth $156,261,000 after acquiring an additional 716,584 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Incyte by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,682,019 shares of the biopharmaceutical company’s stock worth $159,304,000 after acquiring an additional 7,463 shares in the last quarter. Finally, HealthCor Management L.P. raised its stake in shares of Incyte by 125.5% during the fourth quarter. HealthCor Management L.P. now owns 1,350,000 shares of the biopharmaceutical company’s stock worth $127,859,000 after acquiring an additional 751,450 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.
Incyte Company Profile
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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