Wall Street brokerages forecast that Incyte Co. (NASDAQ:INCY) will report $413.16 million in sales for the current fiscal quarter, according to Zacks. Twenty analysts have made estimates for Incyte’s earnings. The highest sales estimate is $486.65 million and the lowest is $374.55 million. Incyte reported sales of $326.50 million in the same quarter last year, which indicates a positive year over year growth rate of 26.5%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, February 15th.
On average, analysts expect that Incyte will report full-year sales of $413.16 million for the current year, with estimates ranging from $1.47 billion to $1.56 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.77 billion per share, with estimates ranging from $1.52 billion to $1.96 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Incyte.
Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. The business had revenue of $381.50 million for the quarter, compared to the consensus estimate of $360.34 million. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. Incyte’s quarterly revenue was up 41.6% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share.
INCY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Incyte in a research note on Wednesday, October 25th. Jefferies Group reiterated a “buy” rating on shares of Incyte in a research report on Friday, October 6th. BidaskClub cut shares of Incyte from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 16th. Goldman Sachs Group initiated coverage on shares of Incyte in a research report on Friday, October 6th. They set a “buy” rating and a $160.00 price target on the stock. Finally, Cowen reiterated a “buy” rating on shares of Incyte in a research report on Tuesday, December 5th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Incyte presently has an average rating of “Buy” and a consensus price target of $143.71.
Shares of Incyte (NASDAQ INCY) traded up $1.24 on Thursday, reaching $93.16. 1,877,992 shares of the company were exchanged, compared to its average volume of 1,610,000. The stock has a market capitalization of $19,660.00, a P/E ratio of -116.45 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81. Incyte has a 1-year low of $88.81 and a 1-year high of $153.15.
In other news, EVP Vijay K. Iyengar sold 5,000 shares of the firm’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 value of $486,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David W. Gryska sold 3,915 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $105.63, for a total transaction of $413,541.45. The disclosure for this sale can be found here. Insiders sold 44,878 shares of company stock worth $4,636,494 in the last 90 days. Company insiders own 17.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its holdings in Incyte by 0.8% in the second quarter. Nordea Investment Management AB now owns 8,179 shares of the biopharmaceutical company’s stock valued at $1,030,000 after acquiring an additional 67 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Incyte by 13.8% in the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 108 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Incyte by 1.9% in the second quarter. Ameritas Investment Partners Inc. now owns 7,571 shares of the biopharmaceutical company’s stock valued at $953,000 after acquiring an additional 143 shares in the last quarter. AMP Capital Investors Ltd boosted its holdings in Incyte by 0.7% in the third quarter. AMP Capital Investors Ltd now owns 72,076 shares of the biopharmaceutical company’s stock valued at $8,414,000 after acquiring an additional 500 shares in the last quarter. Finally, Hanseatic Management Services Inc. boosted its holdings in Incyte by 6.8% in the second quarter. Hanseatic Management Services Inc. now owns 7,924 shares of the biopharmaceutical company’s stock valued at $998,000 after acquiring an additional 506 shares in the last quarter. Institutional investors and hedge funds own 90.76% of the company’s stock.
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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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