Wall Street analysts expect Incyte Co. (NASDAQ:INCY) to report earnings of ($0.48) per share for the current fiscal quarter, according to Zacks Investment Research. Twenty analysts have provided estimates for Incyte’s earnings, with the lowest EPS estimate coming in at ($0.68) and the highest estimate coming in at $0.22. Incyte posted earnings per share of $0.15 in the same quarter last year, which would indicate a negative year over year growth rate of 420%. The company is expected to announce its next quarterly earnings report on Tuesday, February 13th.
On average, analysts expect that Incyte will report full year earnings of ($1.33) per share for the current fiscal year, with EPS estimates ranging from ($1.49) to ($0.66). For the next financial year, analysts expect that the company will post earnings of $0.18 per share, with EPS estimates ranging from ($1.83) to $1.98. Zacks’ EPS calculations are an average based on a survey of research firms that follow Incyte.
Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.11. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The business had revenue of $381.50 million during the quarter, compared to the consensus estimate of $360.34 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. Incyte’s revenue was up 41.6% compared to the same quarter last year.
Several brokerages recently issued reports on INCY. BMO Capital Markets reiterated an “outperform” rating and set a $163.00 price target (down previously from $172.00) on shares of Incyte in a report on Monday, September 11th. Raymond James Financial reiterated a “buy” rating on shares of Incyte in a report on Tuesday, December 12th. Oppenheimer reiterated a “hold” rating and set a $135.00 price target on shares of Incyte in a report on Sunday, September 10th. Goldman Sachs Group began coverage on Incyte in a report on Friday, October 6th. They set a “buy” rating and a $160.00 price target for the company. Finally, ValuEngine downgraded Incyte from a “hold” rating to a “sell” rating in a report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Incyte presently has a consensus rating of “Buy” and an average target price of $143.84.
In other news, insider David W. Gryska sold 3,915 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $105.63, for a total transaction of $413,541.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Reid M. Huber sold 696 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $98.01, for a total value of $68,214.96. The disclosure for this sale can be found here. Insiders have sold a total of 33,118 shares of company stock worth $3,481,833 in the last ninety days. 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. lifted its position in shares of Incyte by 11.1% during the 2nd quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after buying an additional 1,709,685 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Incyte during the 3rd quarter valued at $125,065,000. Janus Henderson Group PLC lifted its position in shares of Incyte by 4,570.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock valued at $131,622,000 after buying an additional 1,022,979 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in shares of Incyte by 374.4% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock valued at $108,605,000 after buying an additional 734,235 shares during the last quarter. Finally, Matrix Capital Management Company LP lifted its position in shares of Incyte by 28.3% during the 2nd quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock valued at $226,225,000 after buying an additional 396,716 shares during the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Incyte (NASDAQ:INCY) traded down $0.67 during trading on Friday, reaching $94.71. The company had a trading volume of 1,236,807 shares, compared to its average volume of 1,304,856. Incyte has a 1-year low of $92.91 and a 1-year high of $153.15. The company has a market capitalization of $20,128.74, a P/E ratio of -118.39 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81.
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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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