Analysts expect Incyte Co. (NASDAQ:INCY) to announce earnings of $0.64 per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Incyte’s earnings. The lowest EPS estimate is $0.55 and the highest is $0.84. Incyte posted earnings of $0.38 per share in the same quarter last year, which would suggest a positive year over year growth rate of 68.4%. The firm is expected to report its next earnings report on Tuesday, October 29th.
On average, analysts expect that Incyte will report full-year earnings of $2.56 per share for the current financial year, with EPS estimates ranging from $2.43 to $2.90. For the next financial year, analysts expect that the firm will post earnings of $3.14 per share, with EPS estimates ranging from $2.80 to $3.79. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Incyte.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.37. Incyte had a net margin of 15.25% and a return on equity of 17.10%. The company had revenue of $529.93 million during the quarter, compared to analysts’ expectations of $498.57 million. During the same period in the prior year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis.
Several research analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of Incyte in a report on Monday, May 20th. They issued a “neutral” rating and a $75.00 price objective for the company. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $91.00 target price on shares of Incyte in a research note on Wednesday, July 31st. Nomura raised their target price on shares of Incyte from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Piper Jaffray Companies reiterated a “buy” rating on shares of Incyte in a research note on Monday, June 17th. Finally, Cowen reiterated a “buy” rating on shares of Incyte in a research note on Sunday, August 4th. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Incyte has a consensus rating of “Buy” and a consensus price target of $89.67.
Shares of Incyte stock traded up $0.41 on Tuesday, hitting $82.89. The company had a trading volume of 987,200 shares, compared to its average volume of 1,354,734. The business has a 50-day simple moving average of $82.62. The company has a current ratio of 5.61, a quick ratio of 5.59 and a debt-to-equity ratio of 0.02. The stock has a market cap of $17.59 billion, a P/E ratio of 101.09 and a beta of 1.12. Incyte has a 52 week low of $57.00 and a 52 week high of $89.30.
In other Incyte news, EVP Barry P. Flannelly sold 959 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $79.91, for a total transaction of $76,633.69. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul A. Friedman sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $82.69, for a total transaction of $8,269,000.00. Following the sale, the director now directly owns 277,597 shares in the company, valued at $22,954,495.93. The disclosure for this sale can be found here. In the last three months, insiders sold 116,040 shares of company stock worth $9,627,376. 17.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Bank of Australia grew its position in Incyte by 49.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 376 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 124 shares during the period. Bremer Bank National Association bought a new stake in Incyte during the 1st quarter valued at $31,000. Captrust Financial Advisors bought a new stake in Incyte during the 2nd quarter valued at $35,000. Financial Gravity Wealth Inc. bought a new stake in Incyte during the 1st quarter valued at $51,000. Finally, Amica Retiree Medical Trust bought a new stake in Incyte during the 2nd quarter valued at $65,000. 90.47% 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 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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