Analysts Anticipate Incyte Co. (INCY) to Announce $0.01 Earnings Per Share
Wall Street brokerages expect that Incyte Co. (NASDAQ:INCY) will report earnings of $0.01 per share for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Incyte’s earnings, with the highest EPS estimate coming in at $0.25 and the lowest estimate coming in at ($0.09). Incyte reported earnings of $0.18 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 94.4%. The company is expected to report its next quarterly earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Incyte will report full-year earnings of ($0.76) per share for the current year, with EPS estimates ranging from ($0.88) to ($0.44). For the next financial year, analysts anticipate that the company will post earnings of $0.38 per share, with EPS estimates ranging from ($0.70) to $1.19. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Incyte.
Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.01. The business had revenue of $384.08 million for the quarter, compared to the consensus estimate of $359.19 million. Incyte had a return on equity of 50.38% and a net margin of 14.71%. The business’s revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS.
INCY has been the topic of a number of recent research reports. Goldman Sachs Group Inc lifted their price objective on Incyte from $116.00 to $149.00 and gave the company a “buy” rating in a report on Friday, January 27th. Nomura initiated coverage on Incyte in a report on Wednesday, March 1st. They set a “buy” rating on the stock. Royal Bank of Canada lifted their price objective on Incyte from $123.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, February 15th. Cowen and Company reaffirmed an “outperform” rating on shares of Incyte in a report on Wednesday, March 8th. Finally, Zacks Investment Research downgraded Incyte from a “hold” rating to a “strong sell” rating in a report on Friday, February 17th. 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 presently has an average rating of “Buy” and an average target price of $139.93.
Shares of Incyte (NASDAQ:INCY) traded up 1.61% during mid-day trading on Wednesday, hitting $138.35. The company had a trading volume of 747,542 shares. Incyte has a 12-month low of $71.75 and a 12-month high of $153.15. The firm’s 50 day moving average is $126.92 and its 200-day moving average is $120.42. The firm’s market cap is $28.33 billion.
In related news, insider David W. Gryska sold 41,528 shares of the business’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $138.00, for a total value of $5,730,864.00. Following the completion of the transaction, the insider now owns 20,754 shares in the company, valued at approximately $2,864,052. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jean Jacques Bienaime acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 7th. The stock was bought at an average price of $139.48 per share, with a total value of $139,480.00. Following the transaction, the director now directly owns 2,177 shares in the company, valued at $303,647.96. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 3,000 shares of company stock valued at $398,770 and sold 137,968 shares valued at $19,395,245. Insiders own 13.70% of the company’s stock.
Several hedge funds have recently modified their holdings of INCY. Rock Springs Capital Management LP boosted its stake in shares of Incyte by 1.0% in the third quarter. Rock Springs Capital Management LP now owns 156,500 shares of the biopharmaceutical company’s stock valued at $14,756,000 after buying an additional 1,500 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Incyte by 1.2% in the third quarter. HighTower Advisors LLC now owns 13,226 shares of the biopharmaceutical company’s stock valued at $1,244,000 after buying an additional 159 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Incyte by 74.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,745 shares of the biopharmaceutical company’s stock valued at $3,465,000 after buying an additional 15,687 shares during the last quarter. Jana Partners LLC acquired a new stake in shares of Incyte during the third quarter valued at approximately $5,505,000. Finally, BOKF NA acquired a new stake in shares of Incyte during the third quarter valued at approximately $385,000. Institutional investors own 92.62% of the company’s stock.
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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