Incyte Co. (INCY) Expected to Announce Earnings of -$0.04 Per Share

Brokerages forecast that Incyte Co. (NASDAQ:INCY) will report ($0.04) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Incyte’s earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at $0.02. Incyte reported earnings of $0.18 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 122.2%. The business is expected to issue its next earnings report on Tuesday, August 8th.

On average, analysts expect that Incyte will report full year earnings of ($0.78) per share for the current fiscal year, with EPS estimates ranging from ($0.85) to ($0.57). For the next year, analysts expect that the company will post earnings of $0.40 per share, with EPS estimates ranging from ($0.70) to $1.19. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Incyte.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.97) by $0.01. The company had revenue of $384.08 million for the quarter, compared to the consensus estimate of $359.19 million. Incyte had a negative return on equity of 108.33% and a negative net margin of 48.71%. The firm’s revenue was up 45.8% compared to the same quarter last year. During the same period last year, the business posted $0.12 earnings per share.

INCY has been the topic of a number of research analyst reports. Nomura initiated coverage on shares of Incyte in a report on Wednesday, March 1st. They issued a “buy” rating on the stock. Instinet initiated coverage on shares of Incyte in a report on Wednesday, March 1st. They issued a “buy” rating and a $148.00 target price on the stock. Cowen and Company reaffirmed an “outperform” rating on shares of Incyte in a report on Wednesday, March 8th. William Blair initiated coverage on shares of Incyte in a report on Tuesday, March 21st. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research raised shares of Incyte from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 22nd. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $141.93.

In other news, Director Jean Jacques Bienaime purchased 500 shares of Incyte stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average price of $115.00 per share, for a total transaction of $57,500.00. Following the transaction, the director now owns 4,177 shares of the company’s stock, valued at approximately $480,355. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven H. Stein sold 32,000 shares of the stock in a transaction that occurred on Friday, April 7th. The stock was sold at an average price of $137.88, for a total transaction of $4,412,160.00. Following the sale, the executive vice president now owns 41,648 shares in the company, valued at approximately $5,742,426.24. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 3,500 shares of company stock worth $464,670 and have sold 119,427 shares worth $15,782,469. Corporate insiders own 13.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP raised its stake in Incyte by 30,032.7% in the first quarter. Quantbot Technologies LP now owns 14,765 shares of the biopharmaceutical company’s stock valued at $1,973,000 after buying an additional 14,716 shares in the last quarter. Legal & General Group Plc raised its stake in Incyte by 11.5% in the first quarter. Legal & General Group Plc now owns 738,591 shares of the biopharmaceutical company’s stock valued at $98,727,000 after buying an additional 76,447 shares in the last quarter. Opus Point Partners Management LLC raised its stake in Incyte by 1.2% in the fourth quarter. Opus Point Partners Management LLC now owns 35,031 shares of the biopharmaceutical company’s stock valued at $3,513,000 after buying an additional 405 shares in the last quarter. Viking Global Investors LP raised its stake in Incyte by 45.0% in the fourth quarter. Viking Global Investors LP now owns 730,452 shares of the biopharmaceutical company’s stock valued at $73,242,000 after buying an additional 226,807 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in Incyte by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 52,125 shares of the biopharmaceutical company’s stock valued at $6,967,000 after buying an additional 750 shares in the last quarter. Institutional investors and hedge funds own 92.79% of the company’s stock.

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Shares of Incyte (NASDAQ:INCY) traded up 0.48% during midday trading on Monday, hitting $136.28. The stock had a trading volume of 1,790,344 shares. The firm’s market capitalization is $27.91 billion. Incyte has a 1-year low of $71.75 and a 1-year high of $153.15. The company’s 50 day moving average price is $124.12 and its 200-day moving average price is $123.48.

About Incyte

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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