Incyte Co. (NASDAQ:INCY) – Equities research analysts at William Blair lifted their Q3 2018 earnings estimates for shares of Incyte in a report released on Monday, October 15th, according to Zacks Investment Research. William Blair analyst Y. Xu now anticipates that the biopharmaceutical company will post earnings per share of $0.22 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.
Several other equities research analysts have also commented on the stock. Royal Bank of Canada upgraded shares of Incyte from a “sector perform” rating to an “outperform” rating and set a $74.00 price target on the stock in a research note on Wednesday, August 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. restated a “buy” rating and issued a $88.00 price target on shares of Incyte in a research note on Wednesday, August 1st. BidaskClub upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. JMP Securities lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 1st. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $74.00 price target (up previously from $73.00) on shares of Incyte in a research note on Sunday, October 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $94.48.
Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The business had revenue of $449.68 million for the quarter, compared to analyst estimates of $448.34 million. Incyte had a positive return on equity of 2.23% and a negative net margin of 6.07%. Incyte’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS.
A number of large investors have recently modified their holdings of INCY. Russell Investments Group Ltd. boosted its holdings in Incyte by 99.8% during the first quarter. Russell Investments Group Ltd. now owns 75,150 shares of the biopharmaceutical company’s stock worth $6,271,000 after buying an additional 37,541 shares in the last quarter. Stifel Financial Corp boosted its holdings in Incyte by 5.8% during the first quarter. Stifel Financial Corp now owns 34,349 shares of the biopharmaceutical company’s stock worth $2,838,000 after buying an additional 1,872 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in Incyte during the first quarter worth approximately $1,224,000. Blair William & Co. IL bought a new stake in Incyte during the first quarter worth approximately $405,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in Incyte by 62.2% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,461 shares of the biopharmaceutical company’s stock worth $287,000 after buying an additional 1,327 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.
In related news, insider Paul Trower sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $70.00, for a total transaction of $700,000.00. Following the transaction, the insider now owns 24,172 shares in the company, valued at $1,692,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jean Jacques Bienaime acquired 1,000 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were bought at an average price of $68.77 per share, for a total transaction of $68,770.00. Following the purchase, the director now directly owns 6,168 shares of the company’s stock, valued at $424,173.36. The disclosure for this purchase can be found here. Insiders have sold 31,000 shares of company stock worth $2,202,100 in the last quarter. Company insiders own 17.20% of the company’s stock.
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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