Incyte Co. (NASDAQ:INCY) Expected to Announce Quarterly Sales of $593.10 Million

Equities analysts expect Incyte Co. (NASDAQ:INCY) to report sales of $593.10 million for the current quarter, Zacks reports. Six analysts have made estimates for Incyte’s earnings, with the highest sales estimate coming in at $621.45 million and the lowest estimate coming in at $578.21 million. Incyte posted sales of $529.93 million in the same quarter last year, which suggests a positive year over year growth rate of 11.9%. The company is expected to issue its next earnings report on Tuesday, August 4th.

On average, analysts expect that Incyte will report full-year sales of $2.46 billion for the current year, with estimates ranging from $2.36 billion to $2.68 billion. For the next financial year, analysts anticipate that the business will post sales of $2.84 billion, with estimates ranging from $2.71 billion to $3.09 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Incyte.

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

INCY has been the topic of a number of analyst reports. Mizuho reaffirmed a “hold” rating and issued a $79.00 price target on shares of Incyte in a research report on Sunday, April 19th. BidaskClub raised shares of Incyte from a “sell” rating to a “hold” rating in a report on Thursday, June 18th. BMO Capital Markets boosted their price target on shares of Incyte from $74.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, May 6th. Argus increased their target price on Incyte from $92.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Credit Suisse Group restated a “hold” rating and issued a $88.00 price target on shares of Incyte in a research note on Wednesday, May 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $100.29.

NASDAQ:INCY traded up $3.82 during midday trading on Tuesday, reaching $106.47. The company 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 firm has a market capitalization of $22.31 billion, a price-to-earnings ratio of -60.84 and a beta of 1.05. 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 stock’s fifty day simple moving average is $98.67 and its 200-day simple moving average is $86.52.

In other news, EVP Maria E. Pasquale sold 1,842 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $85.00, for a total transaction of $156,570.00. Following the transaction, the executive vice president now directly owns 23,831 shares of the company’s stock, valued at approximately $2,025,635. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Herve Hoppenot sold 124,148 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $102.91, for a total transaction of $12,776,070.68. Following the transaction, the chief executive officer now owns 245,250 shares in the company, valued at $25,238,677.50. The disclosure for this sale can be found here. Insiders sold 172,775 shares of company stock valued at $17,499,614 over the last ninety days. Corporate insiders own 16.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Incyte by 1.1% during the 1st quarter. State Street Corp now owns 8,369,821 shares of the biopharmaceutical company’s stock valued at $612,922,000 after buying an additional 90,868 shares during the last quarter. Royal Bank of Canada raised its stake in Incyte by 5.8% in the 1st quarter. Royal Bank of Canada now owns 1,536,018 shares of the biopharmaceutical company’s stock valued at $112,484,000 after purchasing an additional 83,698 shares during the last quarter. Optimal Asset Management Inc. raised its position in shares of Incyte by 108.9% in the first quarter. Optimal Asset Management Inc. now owns 41,385 shares of the biopharmaceutical company’s stock valued at $3,031,000 after buying an additional 21,575 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Incyte by 4.1% during the first quarter. The Manufacturers Life Insurance Company now owns 1,074,347 shares of the biopharmaceutical company’s stock valued at $78,675,000 after buying an additional 42,065 shares during the period. Finally, HighTower Advisors LLC boosted its position in Incyte by 1.7% during the first quarter. HighTower Advisors LLC now owns 23,822 shares of the biopharmaceutical company’s stock worth $1,745,000 after acquiring an additional 397 shares during the last quarter. Institutional investors and hedge funds own 91.34% of the company’s stock.

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.

Recommended Story: How does inflation affect different investments?

Get a free copy of the Zacks research report on Incyte (INCY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Incyte (NASDAQ:INCY)

Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.