Analysts expect Incyte Co. (NASDAQ:INCY) to report earnings per share (EPS) of $0.58 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Incyte’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.88. Incyte posted earnings of $0.40 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 45%. The company is expected to issue its next quarterly earnings results on Thursday, February 13th.
According to Zacks, analysts expect that Incyte will report full year earnings of $2.75 per share for the current year, with EPS estimates ranging from $2.50 to $2.99. For the next fiscal year, analysts anticipate that the company will report earnings of $3.27 per share, with EPS estimates ranging from $2.85 to $4.01. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Incyte.
Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.27. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The company had revenue of $551.58 million for the quarter, compared to the consensus estimate of $534.73 million. During the same period in the prior year, the firm posted $0.41 EPS. Incyte’s revenue for the quarter was up 22.7% on a year-over-year basis.
Several equities analysts have issued reports on INCY shares. Guggenheim set a $101.00 target price on shares of Incyte and gave the company a “buy” rating in a research note on Friday, September 27th. Morgan Stanley upped their target price on shares of Incyte from $82.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Leerink Swann set a $90.00 target price on shares of Incyte and gave the company a “hold” rating in a research note on Wednesday, July 31st. BMO Capital Markets started coverage on shares of Incyte in a research note on Thursday, September 12th. They set a “market perform” rating and a $85.00 target price on the stock. Finally, Cowen restated a “buy” rating on shares of Incyte in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $92.90.
Shares of INCY stock opened at $85.79 on Tuesday. Incyte has a one year low of $57.00 and a one year high of $89.30. The company’s 50-day moving average is $78.87 and its 200 day moving average is $80.51. The company has a market capitalization of $18.55 billion, a price-to-earnings ratio of 104.62, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.01 and a current ratio of 5.02.
In other news, EVP Yao Wenqing sold 2,040 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $85.00, for a total value of $173,400.00. Following the transaction, the executive vice president now owns 47,348 shares in the company, valued at approximately $4,024,580. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wendy L. Dixon sold 10,576 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $84.16, for a total transaction of $890,076.16. Following the completion of the transaction, the director now owns 22,916 shares in the company, valued at approximately $1,928,610.56. The disclosure for this sale can be found here. Insiders sold a total of 91,794 shares of company stock worth $7,646,955 in the last quarter. Company insiders own 17.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Incyte by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,441,152 shares of the biopharmaceutical company’s stock worth $1,651,720,000 after acquiring an additional 306,066 shares in the last quarter. Invesco Ltd. increased its holdings in Incyte by 76.2% in the 2nd quarter. Invesco Ltd. now owns 5,210,785 shares of the biopharmaceutical company’s stock worth $442,708,000 after acquiring an additional 2,252,891 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Incyte by 3,415.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,212,722 shares of the biopharmaceutical company’s stock worth $187,993,000 after acquiring an additional 2,149,784 shares in the last quarter. Northern Trust Corp increased its holdings in Incyte by 6.7% in the 2nd quarter. Northern Trust Corp now owns 2,150,745 shares of the biopharmaceutical company’s stock worth $182,728,000 after acquiring an additional 135,914 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Incyte by 133.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,962,310 shares of the biopharmaceutical company’s stock worth $166,718,000 after acquiring an additional 1,121,310 shares in the last quarter. 91.58% 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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