Zacks: Analysts Anticipate Incyte Co. (INCY) Will Announce Earnings of $0.44 Per Share

Equities research analysts expect Incyte Co. (NASDAQ:INCY) to post earnings per share of $0.44 for the current quarter, Zacks reports. Six analysts have made estimates for Incyte’s earnings. The lowest EPS estimate is $0.20 and the highest is $0.55. Incyte reported earnings per share of $0.02 in the same quarter last year, which suggests a positive year-over-year growth rate of 2,100%. The company is expected to announce its next quarterly earnings report on Thursday, February 21st.

According to Zacks, analysts expect that Incyte will report full-year earnings of $1.08 per share for the current year, with EPS estimates ranging from $0.84 to $1.16. For the next year, analysts forecast that the business will report earnings of $2.17 per share, with EPS estimates ranging from $1.18 to $3.11. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Incyte.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The firm had revenue of $449.68 million during the quarter, compared to analyst estimates of $448.34 million. Incyte had a negative net margin of 6.07% and a positive return on equity of 2.23%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS.



Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of Incyte from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. JPMorgan Chase & Co. set a $88.00 price objective on shares of Incyte and gave the company a “buy” rating in a research report on Tuesday, October 30th. Cowen reissued a “buy” rating on shares of Incyte in a research report on Tuesday, October 30th. Raymond James reissued a “buy” rating and issued a $85.00 price objective on shares of Incyte in a research report on Thursday, October 25th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $74.00 price objective (up from $73.00) on shares of Incyte in a research report on Sunday, October 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $94.48.

In other Incyte news, Director Jean Jacques Bienaime purchased 1,000 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were acquired at an average cost of $68.77 per share, with a total value of $68,770.00. Following the completion of the transaction, the director now owns 6,168 shares in the company, valued at $424,173.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $73.21, for a total transaction of $732,100.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,000 shares of company stock worth $2,202,100. 17.20% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in INCY. DnB Asset Management AS increased its holdings in Incyte by 5.8% in the 2nd quarter. DnB Asset Management AS now owns 20,000 shares of the biopharmaceutical company’s stock valued at $1,340,000 after buying an additional 1,100 shares during the period. IFM Investors Pty Ltd increased its holdings in Incyte by 46.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 8,027 shares of the biopharmaceutical company’s stock valued at $538,000 after buying an additional 2,553 shares during the period. Fisher Asset Management LLC increased its holdings in Incyte by 16.7% in the 2nd quarter. Fisher Asset Management LLC now owns 7,123 shares of the biopharmaceutical company’s stock valued at $477,000 after buying an additional 1,019 shares during the period. State of Alaska Department of Revenue increased its holdings in Incyte by 33.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 31,843 shares of the biopharmaceutical company’s stock valued at $2,132,000 after buying an additional 7,990 shares during the period. Finally, Xact Kapitalforvaltning AB increased its holdings in Incyte by 4.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 32,682 shares of the biopharmaceutical company’s stock valued at $2,190,000 after buying an additional 1,383 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of INCY opened at $63.73 on Friday. The stock has a market capitalization of $13.38 billion, a PE ratio of 369.77 and a beta of 1.12. Incyte has a fifty-two week low of $58.33 and a fifty-two week high of $108.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.01 and a current ratio of 4.02.

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.

See Also: Cost of equity and a company’s balance sheet

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.

Leave a Reply