Wall Street brokerages forecast that Incyte Co. (NASDAQ:INCY) will report $494.73 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Incyte’s earnings. The highest sales estimate is $502.39 million and the lowest is $481.98 million. Incyte reported sales of $521.52 million in the same quarter last year, which indicates a negative year over year growth rate of 5.1%. The business is scheduled to report its next quarterly earnings report on Tuesday, July 30th.
On average, analysts expect that Incyte will report full-year sales of $2.06 billion for the current year, with estimates ranging from $2.01 billion to $2.15 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.40 billion, with estimates ranging from $2.26 billion to $2.60 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Incyte.
Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.33 by $0.29. Incyte had a net margin of 12.66% and a return on equity of 13.28%. The business had revenue of $497.86 million for the quarter, compared to analysts’ expectations of $488.00 million. During the same period in the previous year, the company posted ($0.01) EPS. Incyte’s revenue was up 30.2% on a year-over-year basis.
In related news, EVP Paula J. Swain sold 10,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $87.01, for a total value of $870,100.00. Following the completion of the transaction, the executive vice president now owns 38,295 shares of the company’s stock, valued at $3,332,047.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.10% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Bremer Bank National Association bought a new stake in Incyte during the first quarter worth about $31,000. Cresset Asset Management LLC bought a new stake in shares of Incyte during the first quarter valued at approximately $32,000. CX Institutional grew its stake in shares of Incyte by 1,496.7% during the first quarter. CX Institutional now owns 479 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 449 shares during the last quarter. Bremer Trust National Association bought a new stake in shares of Incyte during the fourth quarter valued at approximately $42,000. Finally, Bronfman E.L. Rothschild L.P. grew its stake in shares of Incyte by 46.3% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 730 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 231 shares during the last quarter. 91.17% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:INCY traded up $1.34 during trading hours on Friday, reaching $77.71. The company’s stock had a trading volume of 1,250,146 shares, compared to its average volume of 1,091,928. The stock has a market capitalization of $16.66 billion, a PE ratio of 94.77 and a beta of 1.20. Incyte has a one year low of $57.00 and a one year high of $88.83. The company has a current ratio of 5.22, a quick ratio of 5.21 and a debt-to-equity ratio of 0.01.
Incyte Company Profile
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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