Brokerages Anticipate Incyte Co. (NASDAQ:INCY) Will Announce Earnings of $0.76 Per Share

Equities research analysts expect that Incyte Co. (NASDAQ:INCY) will report $0.76 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have issued estimates for Incyte’s earnings. The highest EPS estimate is $0.84 and the lowest is $0.67. Incyte reported earnings of $0.75 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.3%. The firm is expected to issue its next earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that Incyte will report full-year earnings of ($0.48) per share for the current financial year, with EPS estimates ranging from ($0.70) to ($0.39). For the next financial year, analysts forecast that the business will post earnings of $3.89 per share, with EPS estimates ranging from $3.05 to $4.49. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Incyte.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($2.86) EPS for the quarter, missing the consensus estimate of $0.31 by ($3.17). Incyte had a negative net margin of 16.87% and a negative return on equity of 12.81%. The firm had revenue of $568.51 million for the quarter, compared to the consensus estimate of $553.24 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis.

Several equities analysts have commented on INCY shares. Piper Sandler upped their price objective on Incyte from $95.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Friday, March 13th. Argus raised their price target on shares of Incyte from $92.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Credit Suisse Group reissued a “hold” rating and issued a $88.00 price objective on shares of Incyte in a research report on Wednesday, May 6th. Finally, Oppenheimer initiated coverage on shares of Incyte in a research report on Monday, June 15th. They set a “buy” rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $100.29.

In other Incyte news, insider Paul Trower sold 6,943 shares of Incyte stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $110.00, for a total value of $763,730.00. Following the transaction, the insider now directly owns 28,677 shares of the company’s stock, valued at $3,154,470. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maria E. Pasquale sold 1,842 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $85.00, for a total value of $156,570.00. Following the transaction, the executive vice president now directly owns 23,831 shares in the company, valued at $2,025,635. The disclosure for this sale can be found here. Insiders sold 172,775 shares of company stock worth $17,499,614 in the last quarter. 16.10% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Procyon Private Wealth Partners LLC purchased a new stake in Incyte during the 4th quarter worth approximately $29,000. Ballast Advisors LLC purchased a new stake in shares of Incyte during the first quarter valued at $28,000. Advisory Alpha LLC raised its stake in Incyte by 2,122.2% in the 4th quarter. Advisory Alpha LLC now owns 400 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 382 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in Incyte during the 1st quarter worth about $38,000. Finally, Signaturefd LLC grew its stake in Incyte by 170.9% during the 1st quarter. Signaturefd LLC now owns 558 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 91.34% of the company’s stock.

Shares of NASDAQ INCY traded up $3.82 during midday trading on Friday, hitting $106.47. The company’s stock had a trading volume of 1,399,867 shares, compared to its average volume of 1,560,812. Incyte has a 12-month low of $62.48 and a 12-month high of $110.25. The company has a current ratio of 3.41, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. The firm has a market cap of $22.31 billion, a P/E ratio of -60.84 and a beta of 1.05. The business’s 50 day moving average is $98.67 and its two-hundred day moving average is $86.52.

About Incyte

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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