Wall Street analysts predict that Incyte Co. (NASDAQ:INCY) will announce $445.82 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Incyte’s earnings. The highest sales estimate is $467.21 million and the lowest is $433.74 million. Incyte reported sales of $381.53 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.9%. The firm is expected to announce its next earnings report before the market opens on Tuesday, October 30th.
On average, analysts expect that Incyte will report full-year sales of $1.75 billion for the current fiscal year, with estimates ranging from $1.69 billion to $1.90 billion. For the next year, analysts forecast that the business will post sales of $2.04 billion, with estimates ranging from $1.94 billion to $2.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Incyte.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.22. The firm had revenue of $521.50 million for the quarter, compared to the consensus estimate of $510.70 million. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. The company’s quarterly revenue was up 59.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) EPS.
Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $88.00 price objective on shares of Incyte in a report on Sunday, June 24th. Raymond James reiterated a “buy” rating on shares of Incyte in a report on Friday, July 27th. Royal Bank of Canada upgraded Incyte from a “sector perform” rating to an “outperform” rating and set a $74.00 price objective on the stock in a report on Wednesday, August 15th. They noted that the move was a valuation call. Oppenheimer set a $70.00 price objective on Incyte and gave the company a “hold” rating in a report on Tuesday, July 17th. Finally, Morgan Stanley downgraded Incyte from an “overweight” rating to an “equal weight” rating in a report on Friday, July 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $94.43.
INCY stock opened at $64.44 on Friday. The company has a current ratio of 4.34, a quick ratio of 4.32 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $14.68 billion, a P/E ratio of 100.69 and a beta of 1.12. Incyte has a 12-month low of $60.22 and a 12-month high of $117.95.
In other Incyte news, EVP Barry P. Flannelly sold 1,000 shares of the company’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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paula J. Swain sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $73.21, for a total value of $732,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,000 shares of company stock worth $2,202,100. 17.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. boosted its position in shares of Incyte by 221.5% during the 1st quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 968 shares in the last quarter. Resources Investment Advisors Inc. boosted its position in shares of Incyte by 93.8% during the 2nd quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 841 shares in the last quarter. First Mercantile Trust Co. boosted its position in shares of Incyte by 75.8% during the 2nd quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock worth $145,000 after acquiring an additional 930 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Incyte during the 2nd quarter worth about $161,000. Finally, Seven Eight Capital LP acquired a new position in shares of Incyte during the 3rd quarter worth about $202,000. Institutional investors own 91.57% of the company’s stock.
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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