-$0.32 EPS Expected for Incyte Co. (NASDAQ:INCY) This Quarter

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Equities research analysts expect Incyte Co. (NASDAQ:INCY) to report earnings of ($0.32) per share for the current quarter, Zacks reports. Six analysts have provided estimates for Incyte’s earnings, with the highest EPS estimate coming in at $0.69 and the lowest estimate coming in at ($2.87). Incyte posted earnings per share of $0.75 during the same quarter last year, which would suggest a negative year-over-year growth rate of 142.7%. The company is scheduled to issue its next quarterly earnings report on Tuesday, August 4th.

According to Zacks, analysts expect that Incyte will report full year earnings of ($0.48) per share for the current financial year, with EPS estimates ranging from ($0.70) to ($0.39). For the next year, analysts anticipate that the firm will report earnings of $3.86 per share, with EPS estimates ranging from $3.05 to $4.49. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Incyte.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($2.86) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($3.17). Incyte had a negative net margin of 16.87% and a negative return on equity of 12.81%. The business had revenue of $568.51 million for the quarter, compared to the consensus estimate of $553.24 million. During the same period in the previous year, the business posted $0.62 EPS. Incyte’s revenue was up 14.2% on a year-over-year basis.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Incyte from a “hold” rating to a “sell” rating and set a $93.00 price objective for the company. in a research report on Thursday, April 9th. Argus increased their price objective on shares of Incyte from $92.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Benchmark assumed coverage on shares of Incyte in a research report on Tuesday, June 16th. They set a “hold” rating for the company. Oppenheimer assumed coverage on shares of Incyte in a research report on Monday, June 15th. They set a “buy” rating and a $120.00 price objective for the company. Finally, Credit Suisse Group reiterated a “hold” rating and set a $88.00 price objective on shares of Incyte in a research report on Wednesday, May 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $100.29.

INCY opened at $103.97 on Friday. Incyte has a twelve month low of $62.48 and a twelve month high of $110.25. The company has a quick ratio of 3.38, a current ratio of 3.41 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $98.46 and a 200-day moving average of $86.42. The stock has a market cap of $22.28 billion, a PE ratio of -59.41 and a beta of 1.05.

In related news, CEO Herve Hoppenot sold 124,148 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $102.91, for a total transaction of $12,776,070.68. Following the transaction, the chief executive officer now directly owns 245,250 shares of the company’s stock, valued at $25,238,677.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Trower sold 1,143 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $100.00, for a total transaction of $114,300.00. Following the transaction, the insider now directly owns 22,467 shares in the company, valued at $2,246,700. The disclosure for this sale can be found here. Insiders have sold 172,775 shares of company stock valued at $17,499,614 over the last quarter. Corporate insiders own 16.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ballast Advisors LLC bought a new position in shares of Incyte during the first quarter valued at about $28,000. Procyon Private Wealth Partners LLC bought a new position in shares of Incyte during the fourth quarter valued at about $29,000. Advisory Alpha LLC lifted its position in shares of Incyte by 2,122.2% during the fourth quarter. Advisory Alpha LLC now owns 400 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 382 shares in the last quarter. Simon Quick Advisors LLC bought a new position in shares of Incyte during the first quarter valued at about $38,000. Finally, Signaturefd LLC raised its position in Incyte by 170.9% in the first quarter. Signaturefd LLC now owns 558 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 352 shares during the period. 91.34% of the stock is currently owned by institutional investors.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Earnings History and Estimates for Incyte (NASDAQ:INCY)

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