Incyte Co. (INCY) Expected to Post Quarterly Sales of $442.97 Million

Equities analysts forecast that Incyte Co. (NASDAQ:INCY) will post $442.97 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Incyte’s earnings, with estimates ranging from $433.74 million to $455.60 million. Incyte reported sales of $381.53 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16.1%. The firm is expected to issue its next quarterly earnings report before the market opens on Tuesday, October 30th.

According to Zacks, analysts expect that Incyte will report full year sales of $1.73 billion for the current year, with estimates ranging from $1.69 billion to $1.86 billion. For the next fiscal year, analysts expect that the company will post sales of $2.04 billion, with estimates ranging from $1.94 billion to $2.22 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Incyte.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $521.50 million for the quarter, compared to the consensus estimate of $510.70 million. During the same period in the prior year, the firm posted ($0.06) EPS. Incyte’s revenue for the quarter was up 59.8% on a year-over-year basis.

INCY has been the topic of several recent analyst reports. Morgan Stanley downgraded shares of Incyte from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 13th. Oppenheimer set a $70.00 price objective on shares of Incyte and gave the company a “hold” rating in a research report on Tuesday, July 17th. Zacks Investment Research raised shares of Incyte from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Friday, July 20th. BidaskClub downgraded shares of Incyte from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Finally, Raymond James reissued a “buy” rating on shares of Incyte in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $94.48.

INCY stock traded down $0.34 during trading on Friday, hitting $63.95. 1,423,798 shares of the stock traded hands, compared to its average volume of 1,925,513. Incyte has a 1 year low of $60.22 and a 1 year high of $117.95. The company has a market capitalization of $13.86 billion, a price-to-earnings ratio of 99.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.32 and a current ratio of 4.34.

In other news, EVP Paula J. Swain sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $73.21, for a total transaction of $732,100.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,000 shares of company stock worth $2,202,100. Insiders own 17.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in INCY. Xact Kapitalforvaltning AB boosted its holdings in shares of Incyte by 2.4% in the third quarter. Xact Kapitalforvaltning AB now owns 33,474 shares of the biopharmaceutical company’s stock worth $2,312,000 after buying an additional 792 shares during the last quarter. Resources Investment Advisors Inc. boosted its holdings in shares of Incyte by 93.8% in the second quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 841 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Incyte by 4.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 19,192 shares of the biopharmaceutical company’s stock worth $1,286,000 after buying an additional 850 shares during the last quarter. First Mercantile Trust Co. boosted its holdings in shares of Incyte by 75.8% in the second quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 930 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Incyte by 221.5% in the first quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 968 shares during the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

About Incyte

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.

Further Reading: Treasury Bonds

Get a free copy of the Zacks research report on Incyte (INCY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Incyte (NASDAQ:INCY)

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.

Leave a Reply