Zacks: Brokerages Expect Incyte Corporation (INCY) Will Post Earnings of $0.02 Per Share
Brokerages expect Incyte Corporation (NASDAQ:INCY) to post earnings of $0.02 per share for the current fiscal quarter, according to Zacks. Sixteen analysts have provided estimates for Incyte Corporation’s earnings. The lowest EPS estimate is ($0.08) and the highest is $0.17. Incyte Corporation posted earnings per share of $0.11 during the same quarter last year, which would suggest a negative year over year growth rate of 81.8%. The business is scheduled to announce its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Incyte Corporation will report full year earnings of ($0.87) per share for the current fiscal year, with EPS estimates ranging from ($0.99) to ($0.51). For the next fiscal year, analysts expect that the company will report earnings of $0.37 per share, with EPS estimates ranging from ($0.40) to $1.58. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Incyte Corporation.
Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.01. The firm had revenue of $326.40 million for the quarter, compared to the consensus estimate of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share.
A number of brokerages have commented on INCY. BidaskClub downgraded shares of Incyte Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Evercore ISI began coverage on shares of Incyte Corporation in a research note on Wednesday, August 16th. They set an “in-line” rating and a $135.00 target price on the stock. Credit Suisse Group reaffirmed a “buy” rating on shares of Incyte Corporation in a research note on Saturday, June 10th. Cowen and Company reaffirmed an “outperform” rating and set a $130.00 target price on shares of Incyte Corporation in a research note on Monday, July 3rd. Finally, J P Morgan Chase & Co set a $149.00 target price on shares of Incyte Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $140.16.
In other Incyte Corporation news, CFO David W. Gryska sold 16,756 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $116.60, for a total transaction of $1,953,749.60. Following the completion of the transaction, the chief financial officer now owns 35,771 shares in the company, valued at approximately $4,170,898.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 100,000 shares of the stock in a transaction on Friday, September 8th. The shares were purchased at an average price of $132.00 per share, with a total value of $13,200,000.00. The disclosure for this purchase can be found here. Insiders have sold a total of 70,294 shares of company stock valued at $9,072,019 in the last quarter. 17.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wetherby Asset Management Inc. lifted its position in shares of Incyte Corporation by 1.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 1,672 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 23 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Incyte Corporation by 6.8% during the 1st quarter. IFP Advisors Inc now owns 1,043 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 66 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Incyte Corporation by 0.8% during the 2nd quarter. Nordea Investment Management AB now owns 8,179 shares of the biopharmaceutical company’s stock worth $1,030,000 after buying an additional 67 shares during the last quarter. Grandfield & Dodd LLC lifted its position in shares of Incyte Corporation by 1.2% during the 2nd quarter. Grandfield & Dodd LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $930,000 after buying an additional 85 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Incyte Corporation by 13.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 108 shares during the last quarter. Institutional investors own 91.06% of the company’s stock.
Shares of Incyte Corporation (INCY) traded down 3.63% during trading on Friday, reaching $129.46. 3,152,543 shares of the company traded hands. The firm has a 50 day moving average of $129.26 and a 200 day moving average of $130.35. The stock’s market capitalization is $26.63 billion. Incyte Corporation has a 52 week low of $77.58 and a 52 week high of $153.15.
Incyte Corporation 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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