Incyte (NASDAQ:INCY) Releases Earnings Results, Misses Estimates By $0.12 EPS

Incyte (NASDAQ:INCY) issued its quarterly earnings data on Tuesday. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12), Briefing.com reports. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm posted $0.91 EPS. Incyte’s revenue was up 23.8% on a year-over-year basis.

Incyte Trading Up 2.6 %

Shares of NASDAQ:INCY traded up $1.91 during trading on Friday, reaching $76.03. 1,093,090 shares of the company traded hands, compared to its average volume of 2,329,541. The company has a current ratio of 1.87, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. Incyte has a 52-week low of $50.35 and a 52-week high of $76.33. The firm has a market capitalization of $14.65 billion, a price-to-earnings ratio of 533.11, a P/E/G ratio of 6.57 and a beta of 0.73. The business’s fifty day moving average is $65.80 and its 200-day moving average is $61.68.

Insider Activity at Incyte

In other Incyte news, insider Thomas Tray sold 572 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas Tray sold 572 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on INCY. StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Royal Bank of Canada upped their target price on Incyte from $67.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Wednesday. BMO Capital Markets reaffirmed an “underperform” rating and issued a $52.00 price target (up previously from $48.00) on shares of Incyte in a report on Wednesday. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $90.00 in a report on Tuesday. Finally, Wells Fargo & Company raised their target price on shares of Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $76.74.

About Incyte

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.