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.
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.
COPYRIGHT VIOLATION NOTICE: “Equities Analysts Set Expectations for Incyte Co.’s FY2020 Earnings (INCY)” was originally published by Week Herald and is the sole property of of Week Herald. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://weekherald.com/2018/02/15/fy2020-earnings-forecast-for-incyte-co-issued-by-oppenheimer-incy.html.
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 & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.