Zacks: Brokerages Anticipate Incyte Co. (NASDAQ:INCY) Will Announce Quarterly Sales of $739.56 Million

Wall Street brokerages forecast that Incyte Co. (NASDAQ:INCY) will report sales of $739.56 million for the current quarter, according to Zacks. Six analysts have provided estimates for Incyte’s earnings, with estimates ranging from $728.05 million to $765.61 million. Incyte reported sales of $620.64 million during the same quarter last year, which indicates a positive year-over-year growth rate of 19.2%. The firm is expected to report its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Incyte will report full-year sales of $2.84 billion for the current year, with estimates ranging from $2.79 billion to $2.92 billion. For the next financial year, analysts anticipate that the company will post sales of $3.43 billion, with estimates ranging from $3.25 billion to $3.86 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Incyte.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, August 3rd. The biopharmaceutical company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.54 by $0.26. The firm had revenue of $705.71 million during the quarter, compared to analysts’ expectations of $686.95 million. Incyte had a return on equity of 15.77% and a net margin of 12.41%. Incyte’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $1.24 earnings per share.

Several research analysts recently commented on the company. TheStreet cut Incyte from a “b-” rating to a “c+” rating in a research report on Friday, August 20th. SVB Leerink reduced their target price on Incyte from $70.00 to $67.00 and set an “underperform” rating for the company in a research report on Wednesday, August 4th. Benchmark upgraded Incyte from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Tuesday, July 20th. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Tuesday, June 15th. Finally, Royal Bank of Canada dropped their price objective on Incyte from $92.00 to $88.00 and set a “sector perform” rating for the company in a research note on Friday, June 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $92.29.

In related news, EVP Vijay K. Iyengar sold 4,911 shares of Incyte stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $78.29, for a total value of $384,482.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Yao Wenqing sold 27,194 shares of Incyte stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $85.37, for a total value of $2,321,551.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,493 shares of company stock valued at $2,735,797. 15.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Bank of Nova Scotia boosted its holdings in Incyte by 6.9% during the first quarter. Bank of Nova Scotia now owns 40,669 shares of the biopharmaceutical company’s stock worth $3,305,000 after buying an additional 2,623 shares during the last quarter. Girard Partners LTD. boosted its holdings in Incyte by 46.7% during the first quarter. Girard Partners LTD. now owns 19,846 shares of the biopharmaceutical company’s stock worth $1,612,000 after buying an additional 6,315 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Incyte by 1.7% during the second quarter. Fisher Asset Management LLC now owns 35,386 shares of the biopharmaceutical company’s stock worth $2,977,000 after buying an additional 606 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Incyte by 110.8% during the second quarter. Oppenheimer & Co. Inc. now owns 6,282 shares of the biopharmaceutical company’s stock worth $529,000 after buying an additional 3,302 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Incyte by 4.0% during the first quarter. Geode Capital Management LLC now owns 3,383,226 shares of the biopharmaceutical company’s stock worth $274,258,000 after buying an additional 128,752 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

INCY stock traded down $0.21 during midday trading on Tuesday, hitting $72.24. The stock had a trading volume of 859,045 shares, compared to its average volume of 1,224,394. The firm has a market capitalization of $15.95 billion, a price-to-earnings ratio of 47.53, a P/E/G ratio of 0.88 and a beta of 0.76. Incyte has a 52 week low of $70.97 and a 52 week high of $101.47. The stock has a 50-day simple moving average of $76.57 and a 200 day simple moving average of $80.37. The company has a current ratio of 3.97, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01.

Incyte Company Profile

Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development and commercialization of proprietary therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late stage development, and commercialized products such as JAKAFI (ruxolitinib), and ICLUSIG (ponatinib).

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Earnings History and Estimates for Incyte (NASDAQ:INCY)

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