Incyte Co. (NASDAQ:INCY) – Research analysts at William Blair upped their Q3 2018 earnings estimates for shares of Incyte in a research report issued on Monday, October 15th. William Blair analyst Y. Xu now anticipates that the biopharmaceutical company will post earnings of $0.22 per share for the quarter, up from their prior estimate of $0.16. William Blair also issued estimates for Incyte’s Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $0.45 EPS, FY2019 earnings at $1.92 EPS and FY2020 earnings at $3.33 EPS.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.22. Incyte had a negative net margin of 5.92% and a positive return on equity of 1.74%. The firm had revenue of $521.50 million for the quarter, compared to analysts’ expectations of $510.70 million. During the same period in the previous year, the company posted ($0.06) EPS. The company’s quarterly revenue was up 59.8% compared to the same quarter last year.
Other equities analysts have also recently issued reports about the stock. JMP Securities cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 1st. Oppenheimer set a $70.00 price objective on shares of Incyte and gave the stock a “hold” rating in a research report on Tuesday, July 17th. BidaskClub upgraded shares of Incyte from a “hold” rating to a “buy” rating in a research report on Monday, August 20th. Cowen reiterated a “buy” rating on shares of Incyte in a research report on Tuesday, July 31st. Finally, Cantor Fitzgerald started coverage on shares of Incyte in a research note on Monday, October 1st. They set a “neutral” rating and a $73.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $94.43.
NASDAQ INCY opened at $66.06 on Thursday. Incyte has a twelve month low of $60.22 and a twelve month high of $117.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.32 and a current ratio of 4.34. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 103.22 and a beta of 1.12.
In related news, EVP Barry P. Flannelly sold 1,000 shares of Incyte stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $70.00, for a total value of $70,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paula J. Swain sold 10,000 shares of Incyte stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $70.00, for a total transaction of $700,000.00. Following the completion of the sale, the executive vice president now directly owns 42,324 shares of the company’s stock, valued at approximately $2,962,680. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock valued at $2,202,100 in the last three months. Company insiders own 17.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in INCY. Resources Investment Advisors Inc. lifted its stake in shares of Incyte by 93.8% in the 2nd quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 841 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Incyte by 221.5% in the 1st quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock valued at $117,000 after purchasing an additional 968 shares during the last quarter. First Mercantile Trust Co. lifted its stake in shares of Incyte by 75.8% in the 2nd quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock valued at $145,000 after purchasing an additional 930 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Incyte in the 2nd quarter valued at $161,000. Finally, Seven Eight Capital LP acquired a new stake in shares of Incyte in the 3rd quarter valued at $202,000. 91.57% of the stock is owned by institutional investors and hedge funds.
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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