Incyte Co. (NASDAQ:INCY) – Stock analysts at Oppenheimer boosted their FY2020 earnings per share estimates for Incyte in a note issued to investors on Monday. Oppenheimer analyst J. Olson now expects that the biopharmaceutical company will earn $3.34 per share for the year, up from their previous estimate of $3.32. Oppenheimer has a “Hold” rating and a $110.00 price objective on the stock. Oppenheimer also issued estimates for Incyte’s FY2021 earnings at $5.21 EPS and FY2022 earnings at $7.77 EPS.
Incyte (NASDAQ:INCY) last announced 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. Incyte 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 for the quarter, compared to analyst estimates of $360.34 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. Incyte’s quarterly revenue was up 41.6% on a year-over-year basis.
Incyte (NASDAQ:INCY) traded up $0.55 during trading on Tuesday, reaching $94.63. The company’s stock had a trading volume of 1,410,000 shares, compared to its average volume of 1,660,000. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81. The firm has a market capitalization of $19,970.00, a price-to-earnings ratio of -118.29 and a beta of 0.74. Incyte has a 12 month low of $88.81 and a 12 month high of $153.15.
In related news, insider David W. Gryska sold 6,760 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $98.87, for a total transaction of $668,361.20. Following the sale, the insider now owns 20,752 shares of the company’s stock, valued at $2,051,750.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul A. Friedman sold 28,507 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $105.24, for a total value of $3,000,076.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,878 shares of company stock worth $4,636,494. Corporate insiders own 17.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Manning & Napier Advisors LLC purchased a new position in Incyte during the third quarter worth about $125,065,000. Janus Henderson Group PLC lifted its position in Incyte by 4,570.1% during the second 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. lifted its position in Incyte by 374.4% during the third 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. Matrix Capital Management Company LP lifted its position in Incyte by 28.3% during the second 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. Finally, Jennison Associates LLC lifted its position in Incyte by 24.3% during the third quarter. Jennison Associates LLC now owns 1,633,173 shares of the biopharmaceutical company’s stock worth $190,657,000 after buying an additional 319,191 shares during the period. 90.75% of the stock is currently owned by institutional investors and hedge funds.
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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