Incyte Co. (NASDAQ:INCY) – Analysts at Gabelli issued their FY2018 earnings estimates for shares of Incyte in a research note issued to investors on Monday, Zacks Investment Research reports. Gabelli analyst J. He forecasts that the biopharmaceutical company will post earnings of $0.60 per share for the year. Gabelli currently has a “Buy” rating and a $185.00 price target on the stock. Gabelli also issued estimates for Incyte’s FY2019 earnings at $1.90 EPS, FY2020 earnings at $4.00 EPS and FY2021 earnings at $5.25 EPS.
Incyte (NASDAQ:INCY) last announced its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.97) by $0.01. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The business had revenue of $384.08 million during the quarter, compared to the consensus estimate of $359.19 million. During the same quarter last year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. TRADEMARK VIOLATION WARNING: This piece was first posted by Transcript Daily and is the property of of Transcript Daily. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://transcriptdaily.com/2017/05/20/brokers-set-expectations-for-incyte-co-s-fy2018-earnings-incy-updated-updated-updated.html.
INCY has been the subject of several other research reports. Cowen and Company restated an “outperform” rating on shares of Incyte in a report on Thursday, January 12th. Goldman Sachs Group Inc boosted their price target on shares of Incyte from $116.00 to $149.00 and gave the company a “buy” rating in a report on Friday, January 27th. Nomura started coverage on shares of Incyte in a report on Wednesday, March 1st. They issued a “buy” rating for the company. Royal Bank of Canada boosted their price target on shares of Incyte from $123.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, February 15th. Finally, JMP Securities restated an “outperform” rating and issued a $130.00 price target on shares of Incyte in a report on Wednesday, January 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $138.71.
Shares of Incyte (NASDAQ:INCY) traded down 0.40% during trading on Tuesday, hitting $119.25. 413,082 shares of the company’s stock were exchanged. Incyte has a one year low of $68.31 and a one year high of $153.15. The firm has a 50-day moving average price of $132.11 and a 200-day moving average price of $117.50. The stock’s market cap is $24.42 billion.
Hedge funds have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. increased its stake in Incyte by 1.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,322 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 22 shares during the period. Ngam Advisors L.P. increased its stake in Incyte by 0.4% in the third quarter. Ngam Advisors L.P. now owns 11,898 shares of the biopharmaceutical company’s stock valued at $1,122,000 after buying an additional 47 shares during the period. Grandfield & Dodd LLC increased its stake in Incyte by 0.7% in the first quarter. Grandfield & Dodd LLC now owns 7,298 shares of the biopharmaceutical company’s stock valued at $976,000 after buying an additional 50 shares during the period. IFP Advisors Inc increased its stake in Incyte by 6.8% in the first quarter. IFP Advisors Inc now owns 1,043 shares of the biopharmaceutical company’s stock valued at $139,000 after buying an additional 66 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Incyte by 1.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 4,328 shares of the biopharmaceutical company’s stock valued at $408,000 after buying an additional 72 shares during the period. 92.62% of the stock is currently owned by institutional investors and hedge funds.
In other Incyte news, Director Jean Jacques Bienaime acquired 1,000 shares of the company’s stock in a transaction dated Friday, April 7th. The shares were acquired at an average cost of $139.48 per share, with a total value of $139,480.00. Following the acquisition, the director now directly owns 2,177 shares of the company’s stock, valued at $303,647.96. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul A. Friedman sold 50,000 shares of the company’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $148.72, for a total transaction of $7,436,000.00. Following the completion of the sale, the director now directly owns 302,976 shares in the company, valued at $45,058,590.72. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 2,500 shares of company stock worth $341,270 and sold 137,968 shares worth $19,395,245. 13.70% of the stock is owned by corporate insiders.
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).
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