Analysts forecast that Incyte Co. (NASDAQ:INCY) will announce earnings per share of $0.48 for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Incyte’s earnings, with the highest EPS estimate coming in at $0.57 and the lowest estimate coming in at $0.39. Incyte reported earnings per share of $0.26 during the same quarter last year, which would suggest a positive year over year growth rate of 84.6%. The company is scheduled to issue its next quarterly earnings report on Tuesday, July 30th.
On average, analysts expect that Incyte will report full year earnings of $2.32 per share for the current year, with EPS estimates ranging from $2.05 to $2.55. For the next financial year, analysts expect that the business will report earnings of $3.12 per share, with EPS estimates ranging from $2.60 to $3.56. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Incyte.
Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.29. The business had revenue of $497.86 million for the quarter, compared to analyst estimates of $488.00 million. Incyte had a return on equity of 13.28% and a net margin of 12.66%. The company’s revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) earnings per share.
Several analysts have issued reports on the company. Royal Bank of Canada cut Incyte from an “outperform” rating to a “sector perform” rating and set a $89.00 target price for the company. in a report on Wednesday, April 3rd. They noted that the move was a valuation call. Barclays lowered Incyte from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $90.00 to $82.00 in a research report on Friday, May 3rd. Argus lifted their price target on Incyte from $83.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, February 25th. BidaskClub upgraded Incyte from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, Oppenheimer set a $85.00 price target on Incyte and gave the company a “hold” rating in a research note on Sunday, April 7th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $88.00.
Incyte stock traded up $0.57 during mid-day trading on Thursday, hitting $76.37. The company had a trading volume of 1,126,292 shares, compared to its average volume of 1,408,949. The company has a current ratio of 5.22, a quick ratio of 5.21 and a debt-to-equity ratio of 0.01. The firm has a market cap of $16.20 billion, a PE ratio of 93.13 and a beta of 1.20. Incyte has a 12-month low of $57.00 and a 12-month high of $88.83.
In other news, EVP Paula J. Swain sold 10,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $87.01, for a total value of $870,100.00. Following the completion of the transaction, the executive vice president now directly owns 38,295 shares of the company’s stock, valued at $3,332,047.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. Vanguard Group Inc increased its stake in Incyte by 0.7% in the third quarter. Vanguard Group Inc now owns 18,380,804 shares of the biopharmaceutical company’s stock valued at $1,269,746,000 after purchasing an additional 120,700 shares during the last quarter. BlackRock Inc. increased its stake in Incyte by 1.2% in the first quarter. BlackRock Inc. now owns 15,453,453 shares of the biopharmaceutical company’s stock valued at $1,329,154,000 after purchasing an additional 190,491 shares during the last quarter. Norges Bank acquired a new position in Incyte in the fourth quarter valued at $186,630,000. Geode Capital Management LLC increased its stake in Incyte by 6.2% in the first quarter. Geode Capital Management LLC now owns 2,508,013 shares of the biopharmaceutical company’s stock valued at $215,338,000 after purchasing an additional 147,407 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Incyte by 2.1% in the first quarter. Northern Trust Corp now owns 2,014,831 shares of the biopharmaceutical company’s stock valued at $173,296,000 after purchasing an additional 41,396 shares during the last quarter. 91.17% of the stock is owned by institutional investors.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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