Incyte (INCY) Posts Earnings Results, Beats Expectations By $0.54 EPS

Incyte (NASDAQ:INCY) issued its earnings results on Thursday. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.54, Morningstar.com reports. The firm had revenue of $444.20 million during the quarter, compared to analyst estimates of $435.23 million. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. The business’s revenue was up 36.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share.

Shares of Incyte (NASDAQ:INCY) traded up $0.44 during trading on Friday, reaching $86.03. 2,470,000 shares of the company’s stock were exchanged, compared to its average volume of 1,890,000. The company has a market capitalization of $18,160.00, a P/E ratio of -55.15 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81. Incyte has a fifty-two week low of $80.85 and a fifty-two week high of $153.15.

A number of brokerages have recently issued reports on INCY. Oppenheimer reissued a “hold” rating and set a $110.00 target price (down from $120.00) on shares of Incyte in a research note on Monday, January 22nd. Raymond James Financial reissued a “buy” rating on shares of Incyte in a research note on Tuesday, December 12th. BidaskClub raised shares of Incyte from a “strong sell” rating to a “sell” rating in a research note on Friday, January 26th. Zacks Investment Research lowered shares of Incyte from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, ValuEngine lowered shares of Incyte from a “hold” rating to a “sell” rating in a research note on Wednesday, November 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Incyte presently has an average rating of “Buy” and a consensus target price of $142.94.

In other Incyte news, EVP Vijay K. Iyengar sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $97.26, for a total value of $486,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David W. Gryska sold 6,760 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $98.87, for a total transaction of $668,361.20. Following the completion of the transaction, the insider now owns 20,752 shares of the company’s stock, valued at $2,051,750.24. The disclosure for this sale can be found here. Insiders sold 12,456 shares of company stock valued at $1,222,876 over the last quarter. 17.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in INCY. Financial Gravity Companies Inc. bought a new position in Incyte in the fourth quarter worth about $120,000. Advantage Investment Management LLC grew its stake in shares of Incyte by 1,233.3% during the fourth quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock worth $189,000 after acquiring an additional 1,850 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Incyte during the third quarter worth about $203,000. Mission Wealth Management LP purchased a new stake in shares of Incyte during the fourth quarter worth about $213,000. Finally, Westover Capital Advisors LLC purchased a new stake in shares of Incyte during the fourth quarter worth about $228,000. Institutional investors and hedge funds own 90.02% of the company’s stock.

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Incyte 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).

Earnings History for Incyte (NASDAQ:INCY)

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