Leerink Swann Weighs in on Incyte Corporation’s Q3 2017 Earnings (INCY)
Incyte Corporation (NASDAQ:INCY) – Leerink Swann upped their Q3 2017 earnings estimates for Incyte Corporation in a note issued to investors on Monday. Leerink Swann analyst M. Schmidt now forecasts that the biopharmaceutical company will earn $0.13 per share for the quarter, up from their prior estimate of ($0.01). Leerink Swann also issued estimates for Incyte Corporation’s FY2017 earnings at ($0.72) EPS.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. TRADEMARK VIOLATION NOTICE: This news story was originally posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/12/leerink-swann-weighs-in-on-incyte-corporations-q3-2017-earnings-incy.html.
INCY has been the topic of several other research reports. J P Morgan Chase & Co reissued a “buy” rating and issued a $149.00 target price on shares of Incyte Corporation in a report on Thursday, August 31st. BMO Capital Markets reissued an “outperform” rating and issued a $172.00 target price on shares of Incyte Corporation in a report on Monday, August 28th. Jefferies Group LLC reissued a “buy” rating on shares of Incyte Corporation in a report on Friday, October 6th. BidaskClub raised Incyte Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Raymond James Financial, Inc. raised Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 target price on the stock in a report on Monday, September 11th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Incyte Corporation currently has a consensus rating of “Buy” and an average price target of $144.84.
Incyte Corporation (INCY) opened at 111.62 on Thursday. The stock’s market cap is $22.96 billion. The firm has a 50-day moving average price of $120.65 and a 200-day moving average price of $126.53. Incyte Corporation has a one year low of $83.01 and a one year high of $153.15.
Several institutional investors have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. raised its holdings in shares of Incyte Corporation by 8.3% in the 3rd quarter. Eqis Capital Management Inc. now owns 21,447 shares of the biopharmaceutical company’s stock worth $2,504,000 after purchasing an additional 1,636 shares during the period. Gs Investments Inc. purchased a new position in shares of Incyte Corporation in the 2nd quarter worth about $3,777,000. Lord Abbett & CO. LLC raised its holdings in shares of Incyte Corporation by 40.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 457,455 shares of the biopharmaceutical company’s stock worth $57,598,000 after purchasing an additional 132,127 shares during the period. Ashford Capital Management Inc. raised its holdings in shares of Incyte Corporation by 2.2% in the 2nd quarter. Ashford Capital Management Inc. now owns 101,937 shares of the biopharmaceutical company’s stock worth $12,835,000 after purchasing an additional 2,156 shares during the period. Finally, Toronto Dominion Bank raised its holdings in shares of Incyte Corporation by 21.3% in the 2nd quarter. Toronto Dominion Bank now owns 57,584 shares of the biopharmaceutical company’s stock worth $7,250,000 after purchasing an additional 10,122 shares during the period. Institutional investors own 88.91% of the company’s stock.
In related news, EVP Paula J. Swain sold 20,000 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $140.00, for a total transaction of $2,800,000.00. Following the transaction, the executive vice president now directly owns 55,067 shares in the company, valued at $7,709,380. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bros. Advisors Lp Baker bought 100,000 shares of Incyte Corporation stock in a transaction that occurred on Friday, September 8th. The shares were acquired at an average price of $132.00 per share, for a total transaction of $13,200,000.00. The disclosure for this purchase can be found here. Insiders have sold 109,452 shares of company stock worth $13,707,134 over the last quarter. 17.70% of the stock is currently owned by company insiders.
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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