Zacks: Analysts Anticipate Incyte Co. (INCY) Will Post Quarterly Sales of $389.95 Million

Zacks: Analysts Anticipate Incyte Co. (INCY) Will Post Quarterly Sales of $389.95 Million

Wall Street analysts forecast that Incyte Co. (NASDAQ:INCY) will report sales of $389.95 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Incyte’s earnings, with estimates ranging from $325.2 million to $444.4 million. Incyte reported sales of $246.29 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 58.3%. The company is expected to issue its next earnings results on Tuesday, August 8th.

According to Zacks, analysts expect that Incyte will report full year sales of $389.95 million for the current fiscal year, with estimates ranging from $1.37 billion to $1.59 billion. For the next year, analysts expect that the business will report sales of $1.64 billion per share, with estimates ranging from $1.51 billion to $1.74 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Incyte.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.97) by $0.01. The company had revenue of $384.08 million for the quarter, compared to analyst estimates of $359.19 million. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share.

INCY has been the topic of several recent research reports. Jefferies Group LLC reissued a “buy” rating and set a $140.00 price target on shares of Incyte in a research report on Tuesday, February 21st. Instinet initiated coverage on Incyte in a research report on Wednesday, March 1st. They set a “buy” rating and a $148.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $138.00 price target (up from $123.00) on shares of Incyte in a research report on Tuesday, February 14th. Raymond James Financial, Inc. lowered Incyte from an “outperform” rating to a “hold” rating in a research report on Thursday, April 6th. Finally, TheStreet raised Incyte from a “c” rating to a “b-” rating in a research report on Tuesday, February 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $139.50.

Shares of Incyte (NASDAQ:INCY) traded down 2.07% during mid-day trading on Wednesday, reaching $122.41. 2,010,670 shares of the company’s stock were exchanged. Incyte has a 52 week low of $68.31 and a 52 week high of $153.15. The stock has a 50 day moving average price of $133.40 and a 200 day moving average price of $116.65. The stock has a market cap of $23.19 billion, a price-to-earnings ratio of 226.69 and a beta of 0.78.

In other news, insider David W. Gryska sold 41,528 shares of the business’s stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $138.00, for a total value of $5,730,864.00. Following the completion of the sale, the insider now directly owns 20,754 shares in the company, valued at approximately $2,864,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul A. Friedman sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $148.72, for a total value of $7,436,000.00. Following the completion of the sale, the director now owns 302,976 shares of the company’s stock, valued at $45,058,590.72. The disclosure for this sale can be found here. Over the last quarter, insiders bought 2,500 shares of company stock valued at $341,270 and sold 129,391 shares valued at $18,372,780. 13.70% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can increased its stake in shares of Incyte by 1.8% in the third quarter. Great West Life Assurance Co. Can now owns 87,751 shares of the biopharmaceutical company’s stock worth $8,265,000 after buying an additional 1,534 shares during the period. Emerald Advisers Inc. PA increased its stake in shares of Incyte by 94.7% in the third quarter. Emerald Advisers Inc. PA now owns 39,128 shares of the biopharmaceutical company’s stock worth $3,689,000 after buying an additional 19,031 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Incyte during the third quarter worth $243,000. Shell Asset Management Co. increased its stake in shares of Incyte by 76.7% in the third quarter. Shell Asset Management Co. now owns 19,666 shares of the biopharmaceutical company’s stock worth $1,854,000 after buying an additional 8,539 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Incyte by 2.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 29,018 shares of the biopharmaceutical company’s stock worth $2,736,000 after buying an additional 592 shares during the period. Institutional investors and hedge funds own 92.62% of the company’s stock.

About Incyte

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).

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