Incyte (INCY) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Incyte (NASDAQ:INCY) issued its quarterly earnings data on Tuesday. The biopharmaceutical company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02), Briefing.com reports. The company had revenue of $449.68 million during the quarter, compared to analysts’ expectations of $448.34 million. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the company earned $0.19 earnings per share.

NASDAQ INCY traded up $4.23 on Wednesday, hitting $65.26. 40,248 shares of the stock traded hands, compared to its average volume of 1,450,602. Incyte has a 12 month low of $58.33 and a 12 month high of $117.95. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 100.91 and a beta of 1.12. The company has a current ratio of 4.34, a quick ratio of 4.32 and a debt-to-equity ratio of 0.01.

In other Incyte news, EVP Barry P. Flannelly sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Paula J. Swain sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $73.21, for a total value of $732,100.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,000 shares of company stock valued at $2,202,100. 17.20% of the stock is owned by corporate insiders.



Several analysts have recently commented on the company. Raymond James reissued a “buy” rating and issued a $85.00 price objective on shares of Incyte in a research note on Thursday, October 25th. Zacks Investment Research downgraded Incyte from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. JPMorgan Chase & Co. set a $88.00 price objective on Incyte and gave the stock a “buy” rating in a research note on Tuesday. Cowen reissued a “buy” rating on shares of Incyte in a research note on Tuesday. Finally, Oppenheimer set a $70.00 price objective on Incyte and gave the stock a “hold” rating in a research note on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $94.48.

Incyte Company Profile

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 for Incyte (NASDAQ:INCY)

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