Equities Analysts Set Expectations for Incyte Co.’s FY2020 Earnings (INCY)

Incyte Co. (NASDAQ:INCY) – Equities researchers at Oppenheimer increased their FY2020 earnings per share estimates for shares of Incyte in a research report issued on Monday, Zacks Investment Research reports. Oppenheimer analyst J. Olson now anticipates that the biopharmaceutical company will post earnings per share of $3.34 for the year, up from their prior estimate of $3.32. Oppenheimer currently has a “Hold” rating and a $110.00 price objective on the stock. Oppenheimer also issued estimates for Incyte’s FY2021 earnings at $5.21 EPS and FY2022 earnings at $7.77 EPS.

Several other brokerages have also recently issued reports on INCY. BMO Capital Markets cut their price target on Incyte from $163.00 to $162.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. Royal Bank of Canada cut their price target on Incyte from $136.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 21st. Nomura reiterated a “buy” rating on shares of Incyte in a research note on Thursday, February 1st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte in a research note on Tuesday, October 31st. Finally, Deutsche Bank started coverage on Incyte in a research note on Tuesday, December 12th. They issued a “hold” rating and a $106.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $142.94.

Shares of Incyte (NASDAQ INCY) traded up $0.14 during trading hours on Tuesday, hitting $88.17. The stock had a trading volume of 2,243,700 shares, compared to its average volume of 1,797,815. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $18,610.00, a PE ratio of -110.21 and a beta of 0.59. Incyte has a 12 month low of $80.85 and a 12 month high of $153.15.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.54. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The company had revenue of $444.20 million during the quarter, compared to analysts’ expectations of $435.23 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s revenue was up 36.0% on a year-over-year basis.

In other Incyte news, insider David W. Gryska sold 6,760 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $98.87, for a total transaction of $668,361.20. Following the completion of the sale, the insider now directly owns 20,752 shares in the company, valued at $2,051,750.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vijay K. Iyengar sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $97.26, for a total value of $486,300.00. The disclosure for this sale can be found here. Insiders have sold 12,456 shares of company stock valued at $1,222,876 over the last 90 days. Corporate insiders own 17.70% of the company’s stock.

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of Incyte by 13.8% during the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 108 shares in the last quarter. Sun Life Financial INC increased its holdings in shares of Incyte by 9,069.2% during the second quarter. Sun Life Financial INC now owns 1,192 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 1,179 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of Incyte during the fourth quarter worth $120,000. Private Advisor Group LLC acquired a new position in shares of Incyte during the third quarter worth $203,000. Finally, Advantage Investment Management LLC increased its holdings in shares of Incyte by 1,233.3% during the fourth quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 1,850 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

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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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Earnings History and Estimates for Incyte (NASDAQ:INCY)

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