$0.40 Earnings Per Share Expected for Incyte Co. (INCY) This Quarter

Analysts expect that Incyte Co. (NASDAQ:INCY) will report earnings of $0.40 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Incyte’s earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.44. Incyte reported earnings per share of $0.17 in the same quarter last year, which indicates a positive year over year growth rate of 135.3%. The company is expected to announce its next earnings report on Tuesday, October 30th.

According to Zacks, analysts expect that Incyte will report full-year earnings of $1.14 per share for the current year, with EPS estimates ranging from $0.98 to $1.29. For the next fiscal year, analysts forecast that the firm will report earnings of $2.28 per share, with EPS estimates ranging from $1.41 to $3.40. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Incyte.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.22. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. The company had revenue of $521.50 million for the quarter, compared to analysts’ expectations of $510.70 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The firm’s revenue was up 59.8% on a year-over-year basis.

Several analysts have issued reports on the stock. JPMorgan Chase & Co. reissued a “buy” rating and set a $88.00 target price on shares of Incyte in a research note on Sunday, June 24th. BidaskClub raised shares of Incyte from a “sell” rating to a “hold” rating in a research note on Saturday, June 23rd. Argus set a $83.00 target price on shares of Incyte and gave the company a “buy” rating in a research note on Thursday, August 30th. Cowen reissued a “buy” rating on shares of Incyte in a research note on Tuesday, September 4th. Finally, Royal Bank of Canada downgraded shares of Incyte from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $76.00 to $74.00 in a research note on Tuesday, June 26th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $100.51.

NASDAQ:INCY traded up $0.61 during trading hours on Thursday, hitting $68.09. 926,971 shares of the stock traded hands, compared to its average volume of 1,318,971. The company has a quick ratio of 4.32, a current ratio of 4.34 and a debt-to-equity ratio of 0.01. Incyte has a fifty-two week low of $60.22 and a fifty-two week high of $120.98. The company has a market cap of $14.14 billion, a P/E ratio of 106.39 and a beta of 1.14.

In other news, EVP Vijay K. Iyengar sold 606 shares of the business’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $71.34, for a total transaction of $43,232.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paula J. Swain sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $73.21, for a total transaction of $732,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,606 shares of company stock worth $1,475,332. 17.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. boosted its holdings in Incyte by 513.3% in the second quarter. Nomura Holdings Inc. now owns 38,836 shares of the biopharmaceutical company’s stock worth $2,602,000 after purchasing an additional 48,232 shares in the last quarter. Andra AP fonden boosted its holdings in Incyte by 55.1% in the second quarter. Andra AP fonden now owns 67,300 shares of the biopharmaceutical company’s stock worth $4,509,000 after purchasing an additional 23,900 shares in the last quarter. Global X Management Co LLC boosted its holdings in Incyte by 39.9% in the second quarter. Global X Management Co LLC now owns 18,520 shares of the biopharmaceutical company’s stock worth $1,241,000 after purchasing an additional 5,286 shares in the last quarter. Verition Fund Management LLC boosted its holdings in Incyte by 247.4% in the second quarter. Verition Fund Management LLC now owns 20,377 shares of the biopharmaceutical company’s stock worth $1,365,000 after purchasing an additional 14,511 shares in the last quarter. Finally, Ashford Capital Management Inc. boosted its holdings in Incyte by 8.8% in the second quarter. Ashford Capital Management Inc. now owns 155,830 shares of the biopharmaceutical company’s stock worth $10,441,000 after purchasing an additional 12,543 shares in the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

About Incyte

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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Earnings History and Estimates for Incyte (NASDAQ:INCY)

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