Q2 2018 Earnings Forecast for Incyte Corporation (INCY) Issued By SunTrust Banks
Incyte Corporation (NASDAQ:INCY) – Investment analysts at SunTrust Banks issued their Q2 2018 earnings estimates for Incyte Corporation in a research note issued to investors on Tuesday. SunTrust Banks analyst P. Lawson expects that the biopharmaceutical company will post earnings per share of $0.04 for the quarter. SunTrust Banks also issued estimates for Incyte Corporation’s Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.08 EPS, FY2018 earnings at $0.48 EPS, FY2020 earnings at $3.79 EPS and FY2021 earnings at $5.78 EPS.
Other equities analysts have also recently issued research reports about the company. J P Morgan Chase & Co set a $149.00 target price on Incyte Corporation and gave the stock a “buy” rating in a report on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $148.00 target price on shares of Incyte Corporation in a report on Thursday, July 27th. BMO Capital Markets lifted their target price on Incyte Corporation from $162.00 to $166.00 and gave the stock an “outperform” rating in a report on Tuesday. Royal Bank Of Canada assumed coverage on Incyte Corporation in a report on Thursday, September 14th. They issued a “sector perform” rating and a $136.00 target price for the company. Finally, Credit Suisse Group set a $152.00 target price on Incyte Corporation and gave the stock a “buy” rating in a report on Sunday, July 16th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Incyte Corporation has an average rating of “Buy” and an average price target of $144.98.
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Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.11. Incyte Corporation had a negative return on equity of 12.91% and a negative net margin of 10.90%. The firm had revenue of $381.50 million during the quarter, compared to the consensus estimate of $360.34 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue was up 41.6% on a year-over-year basis.
In other news, insider Paul Trower sold 3,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $125.25, for a total value of $375,750.00. Following the completion of the transaction, the insider now directly owns 11,853 shares of the company’s stock, valued at approximately $1,484,588.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Herve Hoppenot sold 70,502 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $119.45, for a total value of $8,421,463.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,147 shares of company stock valued at $12,615,101. Corporate insiders own 17.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Incyte Corporation by 11.1% during the 2nd quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after buying an additional 1,709,685 shares during the last quarter. Janus Henderson Group PLC grew its stake in Incyte Corporation by 4,570.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after buying an additional 1,022,979 shares during the last quarter. Old Mutual Global Investors UK Ltd. grew its stake in Incyte Corporation by 374.4% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock worth $108,605,000 after buying an additional 734,235 shares during the last quarter. Jennison Associates LLC grew its stake in Incyte Corporation by 64.1% during the 2nd quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock worth $165,443,000 after buying an additional 513,423 shares during the last quarter. Finally, Matrix Capital Management Company LP grew its stake in Incyte Corporation by 28.3% during the 2nd quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after buying an additional 396,716 shares during the last quarter. 88.85% of the stock is owned by hedge funds and other institutional investors.
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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