$0.65 EPS Expected for Incyte Co. (NASDAQ:INCY) This Quarter

Equities research analysts expect Incyte Co. (NASDAQ:INCY) to post $0.65 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Incyte’s earnings, with estimates ranging from $0.55 to $0.84. Incyte posted earnings per share of $0.38 in the same quarter last year, which would indicate a positive year over year growth rate of 71.1%. The business is scheduled to issue its next quarterly earnings report on Tuesday, October 29th.

On average, analysts expect that Incyte will report full year earnings of $2.56 per share for the current year, with EPS estimates ranging from $2.43 to $2.91. For the next financial year, analysts forecast that the company will post earnings of $3.15 per share, with EPS estimates ranging from $2.80 to $3.80. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Incyte.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.37. Incyte had a return on equity of 17.10% and a net margin of 15.25%. The company had revenue of $529.93 million during the quarter, compared to the consensus estimate of $498.57 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year.

A number of equities research analysts have recently commented on the company. JMP Securities increased their price objective on Incyte from $107.00 to $110.00 and gave the company a “market outperform” rating in a research report on Monday. Piper Jaffray Companies reiterated a “buy” rating on shares of Incyte in a research report on Monday, June 17th. Nomura increased their price objective on Incyte from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Mizuho assumed coverage on Incyte in a research report on Wednesday. They set a “buy” rating and a $95.00 price objective for the company. Finally, BMO Capital Markets assumed coverage on Incyte in a research report on Thursday, September 12th. They set a “market perform” rating and a $85.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $92.05.

In other Incyte news, EVP Barry P. Flannelly sold 959 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $79.91, for a total transaction of $76,633.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Paula J. Swain sold 2,500 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the sale, the executive vice president now directly owns 44,751 shares in the company, valued at $3,580,080. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,183 shares of company stock worth $9,094,694. Company insiders own 17.10% of the company’s stock.

Large investors have recently made changes to their positions in the business. Bremer Bank National Association acquired a new stake in Incyte during the 1st quarter valued at $31,000. Commonwealth Bank of Australia raised its stake in Incyte by 49.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 376 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 124 shares during the period. Pathstone Family Office LLC acquired a new stake in Incyte during the 2nd quarter valued at $34,000. Captrust Financial Advisors acquired a new position in shares of Incyte in the second quarter worth $35,000. Finally, First Manhattan Co. acquired a new position in shares of Incyte in the second quarter worth $50,000. 91.76% of the stock is currently owned by institutional investors.

Shares of NASDAQ:INCY traded up $1.84 on Friday, reaching $74.88. 815,033 shares of the company traded hands, compared to its average volume of 1,328,287. Incyte has a fifty-two week low of $57.00 and a fifty-two week high of $89.30. The company’s 50 day moving average is $79.38 and its 200-day moving average is $80.91. The stock has a market capitalization of $15.89 billion, a PE ratio of 91.32 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.61 and a quick ratio of 5.59.

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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