Gabelli Weighs in on Incyte Co.’s FY2022 Earnings (INCY)

Incyte Co. (NASDAQ:INCY) – Research analysts at Gabelli issued their FY2022 earnings estimates for shares of Incyte in a note issued to investors on Friday. Gabelli analyst J. He expects that the biopharmaceutical company will post earnings per share of $5.05 for the year.

Incyte (NASDAQ:INCY) last released its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.54. The firm had revenue of $444.20 million for the quarter, compared to analysts’ expectations of $435.23 million. Incyte had a negative return on equity of 11.85% and a negative net margin of 20.38%. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS.

Several other research firms have also recently commented on INCY. BMO Capital Markets cut their target price on Incyte from $163.00 to $162.00 and set an “outperform” rating on the stock in a research note on Thursday, October 26th. JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte in a research note on Wednesday, October 25th. Oppenheimer set a $135.00 target price on Incyte and gave the company a “hold” rating in a research note on Tuesday, October 31st. Zacks Investment Research cut Incyte from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada cut their target price on Incyte from $136.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $142.94.

Incyte (NASDAQ:INCY) traded down $0.80 during midday trading on Monday, reaching $84.71. The company’s stock had a trading volume of 1,365,458 shares, compared to its average volume of 1,859,431. The company has a market cap of $18,060.00, a PE ratio of -54.30 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.01 and a quick ratio of 3.99. Incyte has a 12-month low of $80.85 and a 12-month high of $153.15.

In related news, insider David W. Gryska sold 6,760 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $98.87, for a total transaction of $668,361.20. Following the transaction, the insider now directly owns 20,752 shares of the company’s stock, valued at approximately $2,051,750.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vijay K. Iyengar sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $97.26, for a total value of $486,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,456 shares of company stock worth $1,222,876 over the last three months. 17.70% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Sands Capital Management LLC boosted its stake in Incyte by 8.2% in the 4th quarter. Sands Capital Management LLC now owns 8,191,287 shares of the biopharmaceutical company’s stock valued at $775,797,000 after purchasing an additional 621,323 shares during the period. Capital International Investors boosted its stake in Incyte by 1.4% in the 3rd quarter. Capital International Investors now owns 6,494,566 shares of the biopharmaceutical company’s stock valued at $758,176,000 after purchasing an additional 87,369 shares during the period. Geode Capital Management LLC boosted its stake in Incyte by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 1,938,238 shares of the biopharmaceutical company’s stock valued at $183,205,000 after purchasing an additional 105,692 shares during the period. Bank of New York Mellon Corp boosted its stake in Incyte by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,682,019 shares of the biopharmaceutical company’s stock valued at $159,304,000 after purchasing an additional 7,463 shares during the period. Finally, Jennison Associates LLC boosted its stake in Incyte by 24.3% in the 3rd quarter. Jennison Associates LLC now owns 1,633,173 shares of the biopharmaceutical company’s stock valued at $190,657,000 after purchasing an additional 319,191 shares during the period. 89.43% of the stock is currently owned by institutional investors and hedge funds.

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Incyte Company Profile

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).

Earnings History and Estimates for Incyte (NASDAQ:INCY)

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