Incyte Corporation (INCY) to Release Quarterly Earnings on Tuesday
Incyte Corporation (NASDAQ:INCY) is set to announce its earnings results before the market opens on Tuesday, October 31st. Analysts expect the company to announce earnings of $0.05 per share for the quarter.
Incyte Corporation (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm had revenue of $326.40 million for the quarter, compared to the consensus estimate of $318.45 million. During the same quarter last year, the company earned $0.18 earnings per share. The firm’s revenue was up 32.5% on a year-over-year basis. On average, analysts expect Incyte Corporation to post $-0.82 EPS for the current fiscal year and $0.31 EPS for the next fiscal year.
Incyte Corporation (INCY) traded up 0.72% during midday trading on Tuesday, reaching $114.30. 955,878 shares of the company’s stock were exchanged. The company’s market cap is $23.51 billion. Incyte Corporation has a 52 week low of $83.01 and a 52 week high of $153.15. The firm has a 50-day moving average price of $117.36 and a 200 day moving average price of $125.07.
In other news, President Herve Hoppenot sold 70,502 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $119.45, for a total value of $8,421,463.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric H. Siegel sold 1,820 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $132.92, for a total transaction of $241,914.40. Following the completion of the transaction, the executive vice president now owns 23,553 shares of the company’s stock, valued at $3,130,664.76. The disclosure for this sale can be found here. Insiders sold a total of 102,967 shares of company stock valued at $12,857,016 over the last 90 days. Corporate insiders own 17.70% of the company’s stock.
Several analysts recently commented on INCY shares. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating and set a $135.00 target price on shares of Incyte Corporation in a report on Thursday, August 31st. BMO Capital Markets reaffirmed a “buy” rating and set a $172.00 target price on shares of Incyte Corporation in a report on Friday, July 21st. Barclays PLC reaffirmed an “overweight” rating and set a $165.00 target price (down previously from $180.00) on shares of Incyte Corporation in a report on Wednesday, August 2nd. Royal Bank Of Canada started coverage on shares of Incyte Corporation in a report on Thursday, September 14th. They set a “sector perform” rating and a $136.00 target price for the company. Finally, Raymond James Financial, Inc. raised shares of Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 target price for the company in a report on Monday, September 11th. Seven 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 stock. Incyte Corporation presently has an average rating of “Buy” and an average price target of $144.84.
About Incyte Corporation
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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