Zacks: Analysts Expect Incyte Corporation (INCY) Will Announce Earnings of $0.02 Per Share
Wall Street brokerages predict that Incyte Corporation (NASDAQ:INCY) will post $0.02 earnings per share for the current fiscal quarter, Zacks reports. Sixteen analysts have provided estimates for Incyte Corporation’s earnings, with the highest EPS estimate coming in at $0.17 and the lowest estimate coming in at ($0.08). Incyte Corporation posted earnings of $0.11 per share in the same quarter last year, which indicates a negative year over year growth rate of 81.8%. The firm is expected to announce its next earnings report on Tuesday, November 7th.
On average, analysts expect that Incyte Corporation will report full year earnings of ($0.87) per share for the current fiscal year, with EPS estimates ranging from ($0.99) to ($0.51). For the next year, analysts anticipate that the company will report earnings of $0.37 per share, with EPS estimates ranging from ($0.40) to $1.58. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Incyte Corporation.
Incyte Corporation (NASDAQ:INCY) last issued its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS.
Several research analysts have weighed in on the stock. Cowen and Company reissued a “buy” rating on shares of Incyte Corporation in a report on Monday, June 5th. TheStreet raised shares of Incyte Corporation from a “d+” rating to a “c” rating in a report on Wednesday, May 24th. Credit Suisse Group reissued a “buy” rating on shares of Incyte Corporation in a report on Saturday, June 10th. Argus reissued a “buy” rating and set a $150.00 price objective on shares of Incyte Corporation in a report on Wednesday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $166.00 price objective (up from $155.00) on shares of Incyte Corporation in a report on Monday, June 5th. Seven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $143.07.
Shares of Incyte Corporation (INCY) traded down 0.18% during trading on Friday, hitting $122.93. 729,676 shares of the company were exchanged. The stock’s market cap is $25.29 billion. The company’s 50-day moving average price is $128.57 and its 200 day moving average price is $130.44. Incyte Corporation has a 12 month low of $78.04 and a 12 month high of $153.15.
In related news, insider David W. Gryska sold 599 shares of Incyte Corporation stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $129.74, for a total value of $77,714.26. Following the sale, the insider now directly owns 19,614 shares in the company, valued at approximately $2,544,720.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was purchased at an average price of $132.00 per share, for a total transaction of $13,200,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 53,538 shares of company stock worth $7,118,269. 17.70% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of INCY. State Street Corp lifted its position in Incyte Corporation by 110.7% in the 1st quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock valued at $1,013,437,000 after purchasing an additional 3,983,207 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Incyte Corporation by 22.7% during the 1st quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock worth $2,060,638,000 after buying an additional 2,847,907 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Incyte Corporation by 4,570.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after buying an additional 1,022,979 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Incyte Corporation during the 1st quarter worth about $85,751,000. Finally, Geode Capital Management LLC raised its position in shares of Incyte Corporation by 42.0% during the 1st quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock worth $237,618,000 after buying an additional 526,163 shares in the last quarter. Hedge funds and other institutional investors own 91.06% of the company’s stock.
Incyte Corporation 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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related stocks with our FREE daily email newsletter.