Brokers Issue Forecasts for Incyte Co.’s FY2020 Earnings (INCY)

Incyte Co. (NASDAQ:INCY) – Equities researchers at Gabelli boosted their FY2020 earnings estimates for shares of Incyte in a note issued to investors on Wednesday. Gabelli analyst J. He now expects that the biopharmaceutical company will post earnings per share of $4.35 for the year, up from their previous forecast of $4.30.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. The firm had revenue of $381.50 million during the quarter, compared to analyst estimates of $360.34 million. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. Incyte’s revenue was up 41.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Incyte in a research note on Wednesday, October 25th. Goldman Sachs Group assumed coverage on shares of Incyte in a research note on Friday, October 6th. They issued a “buy” rating and a $160.00 price target for the company. Jefferies Group reaffirmed a “buy” rating on shares of Incyte in a research note on Friday, October 6th. Cowen reaffirmed a “buy” rating on shares of Incyte in a research note on Tuesday, December 5th. Finally, Raymond James Financial reaffirmed a “buy” rating on shares of Incyte in a research note on Tuesday, December 12th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Incyte has an average rating of “Buy” and an average target price of $143.71.

Incyte (NASDAQ INCY) traded up $1.24 during trading on Friday, reaching $93.16. 1,912,640 shares of the company’s stock were exchanged, compared to its average volume of 1,590,000. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81. The firm has a market cap of $19,660.00, a price-to-earnings ratio of -116.45 and a beta of 0.74. Incyte has a 52-week low of $88.81 and a 52-week high of $153.15.

Several hedge funds have recently added to or reduced their stakes in INCY. Riverhead Capital Management LLC raised its holdings in shares of Incyte by 22.0% during the second quarter. Riverhead Capital Management LLC now owns 3,030 shares of the biopharmaceutical company’s stock valued at $381,000 after acquiring an additional 546 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Incyte during the second quarter valued at approximately $129,000. Ameriprise Financial Inc. raised its holdings in shares of Incyte by 6.3% during the second quarter. Ameriprise Financial Inc. now owns 228,079 shares of the biopharmaceutical company’s stock valued at $28,722,000 after acquiring an additional 13,564 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Incyte by 17.1% during the second quarter. PNC Financial Services Group Inc. now owns 36,123 shares of the biopharmaceutical company’s stock valued at $4,549,000 after acquiring an additional 5,284 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in shares of Incyte by 55.8% during the second quarter. Rafferty Asset Management LLC now owns 12,111 shares of the biopharmaceutical company’s stock valued at $1,525,000 after acquiring an additional 4,340 shares during the period. Institutional investors and hedge funds own 90.76% of the company’s stock.

In other news, EVP Vijay K. Iyengar sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $97.26, for a total transaction of $486,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David W. Gryska sold 6,760 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $98.87, for a total transaction of $668,361.20. Following the sale, the insider now owns 20,752 shares in the company, valued at approximately $2,051,750.24. The disclosure for this sale can be found here. Insiders sold a total of 44,878 shares of company stock worth $4,636,494 over the last quarter. Insiders own 17.70% of the company’s stock.

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Incyte Company Profile

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 (NASDAQ:INCY)

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