Leerink Swann Analysts Raise Earnings Estimates for Incyte Corporation (INCY)

Incyte Corporation (NASDAQ:INCY) – Equities researchers at Leerink Swann upped their Q3 2017 earnings per share estimates for shares of Incyte Corporation in a research note issued to investors on Monday. Leerink Swann analyst M. Schmidt now expects that the biopharmaceutical company will post earnings of $0.13 per share for the quarter, up from their previous estimate of ($0.01). Leerink Swann also issued estimates for Incyte Corporation’s FY2017 earnings at ($0.72) EPS.

Several other research analysts have also recently issued reports on the company. Raymond James Financial, Inc. raised Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 target price on the stock in a research report on Monday, September 11th. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $149.00 target price on shares of Incyte Corporation in a research report on Thursday, August 31st. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating and set a $135.00 target price on shares of Incyte Corporation in a research report on Thursday, August 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $172.00 target price on shares of Incyte Corporation in a research report on Monday, August 28th. Finally, Barclays PLC lifted their price target on Incyte Corporation from $135.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, July 4th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $144.84.

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Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. During the same quarter last year, the company posted $0.18 EPS. The firm’s revenue was up 32.5% on a year-over-year basis.

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new stake in shares of Incyte Corporation during the 1st quarter valued at $105,000. D. Scott Neal Inc. bought a new stake in shares of Incyte Corporation during the 2nd quarter valued at $103,000. Cornerstone Advisors Inc. raised its stake in shares of Incyte Corporation by 19.6% during the 2nd quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 145 shares during the period. FNY Partners Fund LP raised its stake in shares of Incyte Corporation by 4,825.0% during the 1st quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 965 shares during the period. Finally, Exane Asset Management bought a new stake in shares of Incyte Corporation during the 2nd quarter valued at $126,000. Institutional investors own 88.91% of the company’s stock.

In related news, Director Bros. Advisors Lp Baker acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were bought at an average cost of $132.00 per share, for a total transaction of $13,200,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Steven H. Stein sold 6,485 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $131.09, for a total value of $850,118.65. Following the sale, the executive vice president now owns 19,356 shares in the company, valued at $2,537,378.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,452 shares of company stock worth $13,707,134. 17.70% of the stock is currently owned by corporate insiders.

About Incyte Corporation

Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of 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).

Earnings History and Estimates for Incyte Corporation (NASDAQ:INCY)

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