Incyte Co. (NASDAQ:INCY) Expected to Announce Earnings of $0.65 Per Share

Equities research analysts predict that Incyte Co. (NASDAQ:INCY) will announce earnings of $0.65 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Incyte’s earnings. The lowest EPS estimate is $0.55 and the highest is $0.84. Incyte reported earnings per share of $0.38 in the same quarter last year, which suggests a positive year-over-year growth rate of 71.1%. The business is expected to announce its next quarterly earnings report before the market opens on Tuesday, October 29th.

On average, analysts expect that Incyte will report full year earnings of $2.60 per share for the current year, with EPS estimates ranging from $2.45 to $2.91. For the next financial year, analysts anticipate that the firm will post earnings of $3.28 per share, with EPS estimates ranging from $2.80 to $3.88. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Incyte.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.37. Incyte had a net margin of 15.25% and a return on equity of 17.10%. The firm had revenue of $529.93 million for the quarter, compared to the consensus estimate of $498.57 million. During the same quarter in the previous year, the company earned $0.63 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year.

Several equities research analysts have recently commented on the stock. JMP Securities boosted their target price on shares of Incyte from $107.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, September 30th. Guggenheim set a $101.00 target price on shares of Incyte and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. restated a “buy” rating and issued a $91.00 target price on shares of Incyte in a research note on Wednesday, July 31st. Mizuho assumed coverage on shares of Incyte in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $95.00 target price on the stock. Finally, BMO Capital Markets assumed coverage on shares of Incyte in a research note on Thursday, September 12th. They issued a “market perform” rating and a $85.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $92.90.

INCY traded down $0.60 during trading on Monday, reaching $77.50. 626,100 shares of the company’s stock were exchanged, compared to its average volume of 1,286,643. Incyte has a fifty-two week low of $57.00 and a fifty-two week high of $89.30. The company has a quick ratio of 5.59, a current ratio of 5.61 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $77.00 and a 200 day moving average price of $79.99. The company has a market capitalization of $16.88 billion, a P/E ratio of 94.51 and a beta of 1.05.

In related news, EVP Paula J. Swain sold 2,500 shares of Incyte stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $80.00, for a total value of $200,000.00. Following the completion of the transaction, the executive vice president now directly owns 44,112 shares of the company’s stock, valued at $3,528,960. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul A. Friedman sold 100,000 shares of Incyte stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $82.69, for a total value of $8,269,000.00. Following the completion of the transaction, the director now directly owns 277,597 shares of the company’s stock, valued at $22,954,495.93. The disclosure for this sale can be found here. Insiders sold 109,224 shares of company stock valued at $9,018,061 over the last ninety days. 17.10% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in INCY. Invesco Ltd. raised its holdings in shares of Incyte by 76.2% in the second quarter. Invesco Ltd. now owns 5,210,785 shares of the biopharmaceutical company’s stock valued at $442,708,000 after buying an additional 2,252,891 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Incyte by 3,415.7% in the second quarter. Nuveen Asset Management LLC now owns 2,212,722 shares of the biopharmaceutical company’s stock valued at $187,993,000 after buying an additional 2,149,784 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Incyte by 133.3% in the second quarter. Renaissance Technologies LLC now owns 1,962,310 shares of the biopharmaceutical company’s stock valued at $166,718,000 after buying an additional 1,121,310 shares during the last quarter. FMR LLC raised its holdings in shares of Incyte by 2,120.0% in the first quarter. FMR LLC now owns 657,610 shares of the biopharmaceutical company’s stock valued at $56,561,000 after buying an additional 627,988 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Incyte by 115,574.2% in the second quarter. Bessemer Group Inc. now owns 564,490 shares of the biopharmaceutical company’s stock valued at $47,959,000 after buying an additional 564,002 shares during the last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Incyte (NASDAQ:INCY)

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