Incyte Corporation (NASDAQ:INCY) – Stock analysts at William Blair reduced their Q4 2018 earnings per share (EPS) estimates for shares of Incyte Corporation in a report issued on Wednesday. William Blair analyst Y. Xu now forecasts that the biopharmaceutical company will earn $0.10 per share for the quarter, down from their prior forecast of $0.19.

Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.11. The company had revenue of $381.50 million for the quarter, compared to analyst estimates of $360.34 million. Incyte Corporation had a negative net margin of 10.90% and a negative return on equity of 12.91%. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 EPS. TRADEMARK VIOLATION NOTICE: “Q4 2018 Earnings Estimate for Incyte Corporation Issued By William Blair (INCY)” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another website, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this news story can be read at https://www.americanbankingnews.com/2017/11/02/q4-2018-earnings-estimate-for-incyte-corporation-issued-by-william-blair-incy.html.

Several other brokerages have also commented on INCY. Oppenheimer Holdings, Inc. restated a “hold” rating and issued a $135.00 price objective on shares of Incyte Corporation in a report on Thursday, August 31st. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $149.00 target price on shares of Incyte Corporation in a research note 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 research note on Friday, July 21st. Jefferies Group LLC reissued a “buy” rating and issued a $148.00 price objective on shares of Incyte Corporation in a research report on Thursday, July 27th. Finally, Credit Suisse Group set a $152.00 price objective on shares of Incyte Corporation and gave the company a “buy” rating in a research report on Sunday, July 16th. Seven research 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 company’s stock. The stock has an average rating of “Buy” and an average price target of $144.98.

A number of hedge funds and other institutional investors have recently modified their holdings of INCY. Vanguard Group Inc. raised its holdings 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 period. Janus Henderson Group PLC raised its holdings 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 period. Old Mutual Global Investors UK Ltd. raised its holdings 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 period. Jennison Associates LLC raised its holdings 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 period. Finally, Matrix Capital Management Company LP raised its holdings 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 period. 88.85% of the stock is owned by institutional investors.

In other Incyte Corporation news, EVP Steven H. Stein sold 2,111 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $125.00, for a total value of $263,875.00. Following the completion of the sale, the executive vice president now directly owns 18,687 shares of the company’s stock, valued at approximately $2,335,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 100,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was acquired at an average cost of $132.00 per share, with a total value of $13,200,000.00. The disclosure for this purchase can be found here. Insiders sold 101,147 shares of company stock valued at $12,615,101 in the last ninety days. Corporate insiders own 17.70% of the company’s stock.

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).

Earnings History and Estimates for Incyte Corporation (NASDAQ:INCY)

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