$387.35 Million in Sales Expected for Incyte Co. (INCY) This Quarter

Wall Street brokerages expect that Incyte Co. (NASDAQ:INCY) will report $387.35 million in sales for the current quarter, Zacks Investment Research reports. Fourteen analysts have made estimates for Incyte’s earnings. The lowest sales estimate is $368.00 million and the highest is $434.50 million. Incyte reported sales of $384.08 million during the same quarter last year, which indicates a positive year over year growth rate of 0.9%. The business is expected to announce its next earnings report on Thursday, May 3rd.

On average, analysts expect that Incyte will report full year sales of $387.35 million for the current fiscal year, with estimates ranging from $1.61 billion to $1.88 billion. For the next financial year, analysts forecast that the business will report sales of $2.04 billion per share, with estimates ranging from $1.82 billion to $2.28 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Incyte.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.54. The company had revenue of $444.20 million for the quarter, compared to analysts’ expectations of $435.23 million. Incyte had a negative return on equity of 11.85% and a negative net margin of 20.38%. Incyte’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period last year, the firm posted $0.05 EPS.



A number of equities analysts recently weighed in on INCY shares. Credit Suisse Group set a $145.00 price objective on Incyte and gave the company a “buy” rating in a report on Wednesday, February 14th. BidaskClub cut Incyte from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 16th. Royal Bank of Canada raised Incyte from a “sector perform” rating to an “outperform” rating and set a $136.00 price objective on the stock in a report on Tuesday, January 2nd. Raymond James Financial set a $159.00 price objective on Incyte and gave the company a “buy” rating in a report on Wednesday, February 28th. Finally, Barclays decreased their price objective on Incyte from $165.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, April 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $119.66.

Shares of NASDAQ INCY opened at $69.83 on Friday. The stock has a market cap of $14,427.73, a P/E ratio of 109.11 and a beta of 0.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.99 and a current ratio of 4.01. Incyte has a 1-year low of $61.30 and a 1-year high of $142.45.

In other news, insider David W. Gryska sold 1,952 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.56, for a total value of $167,013.12. Following the completion of the transaction, the insider now owns 12,922 shares in the company, valued at approximately $1,105,606.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Reid M. Huber sold 1,958 shares of Incyte stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.55, for a total value of $167,506.90. The disclosure for this sale can be found here. Company insiders own 17.20% of the company’s stock.

A number of large investors have recently made changes to their positions in INCY. Financial Gravity Companies Inc. purchased a new position in Incyte during the fourth quarter valued at $120,000. Advantage Investment Management LLC raised its stake in Incyte by 1,233.3% during the fourth quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 1,850 shares during the last quarter. Griffin Asset Management Inc. purchased a new position in Incyte during the fourth quarter valued at $200,000. Private Advisor Group LLC purchased a new position in Incyte during the third quarter valued at $203,000. Finally, Mission Wealth Management LP purchased a new position in Incyte during the fourth quarter valued at $213,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

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About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Earnings History and Estimates for Incyte (NASDAQ:INCY)

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