Equities analysts predict that Incyte Co. (NASDAQ:INCY) will announce earnings of $0.34 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Incyte’s earnings, with the lowest EPS estimate coming in at $0.19 and the highest estimate coming in at $0.47. Incyte posted earnings of ($0.01) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 3,500%. The firm is expected to issue its next quarterly earnings report on Tuesday, May 7th.
According to Zacks, analysts expect that Incyte will report full year earnings of $2.08 per share for the current fiscal year, with EPS estimates ranging from $1.62 to $2.41. For the next year, analysts anticipate that the business will post earnings of $2.78 per share, with EPS estimates ranging from $1.85 to $3.68. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Incyte.
Get Incyte alerts:Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Thursday, February 14th. The biopharmaceutical company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.15. Incyte had a negative net margin of 6.07% and a positive return on equity of 2.23%. The company had revenue of $528.40 million for the quarter, compared to the consensus estimate of $485.72 million. During the same period in the prior year, the firm posted $0.02 EPS. The company’s quarterly revenue was up 19.0% compared to the same quarter last year.
INCY has been the topic of a number of recent analyst reports. Goldman Sachs Group raised shares of Incyte from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, January 15th. Raymond James restated a “buy” rating and issued a $85.00 target price on shares of Incyte in a report on Thursday, October 25th. Guggenheim upgraded shares of Incyte from a “neutral” rating to a “buy” rating in a report on Thursday, January 3rd. Cantor Fitzgerald restated a “hold” rating and issued a $74.00 target price (up previously from $73.00) on shares of Incyte in a report on Sunday, October 21st. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte in a report on Thursday, January 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $90.73.
In related news, insider Paul Trower sold 9,187 shares of the stock in a transaction on Monday, January 7th. The shares were sold at an average price of $75.00, for a total transaction of $689,025.00. Following the completion of the sale, the insider now owns 23,359 shares in the company, valued at approximately $1,751,925. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 1,000 shares of the stock in a transaction on Monday, January 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,354 shares of company stock valued at $6,058,524. 17.20% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Bremer Trust National Association acquired a new stake in Incyte during the 4th quarter worth $42,000. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Incyte by 46.3% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 730 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 231 shares during the period. Edge Wealth Management LLC acquired a new stake in shares of Incyte in the 4th quarter worth $64,000. Ledyard National Bank acquired a new stake in shares of Incyte in the 4th quarter worth $80,000. Finally, ETF Managers Group LLC lifted its stake in shares of Incyte by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 1,564 shares of the biopharmaceutical company’s stock worth $99,000 after acquiring an additional 213 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.
Shares of NASDAQ:INCY traded up $0.73 during trading hours on Tuesday, reaching $84.15. The stock had a trading volume of 1,904,402 shares, compared to its average volume of 1,807,753. Incyte has a 1 year low of $57.00 and a 1 year high of $96.33. The company has a current ratio of 4.02, a quick ratio of 4.01 and a debt-to-equity ratio of 0.01. The company has a market cap of $17.91 billion, a PE ratio of 131.48, a P/E/G ratio of 1.04 and a beta of 1.34.
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.
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