Zacks: Brokerages Anticipate Incyte Co. (INCY) to Post $0.40 EPS

Equities analysts expect that Incyte Co. (NASDAQ:INCY) will post earnings per share (EPS) of $0.40 for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Incyte’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.51. Incyte posted earnings per share of ($0.01) in the same quarter last year, which suggests a positive year over year growth rate of 4,100%. The company is scheduled to issue its next earnings results before the market opens on Tuesday, April 30th.

On average, analysts expect that Incyte will report full year earnings of $2.11 per share for the current year, with EPS estimates ranging from $1.90 to $2.37. For the next year, analysts expect that the firm will report earnings of $3.21 per share, with EPS estimates ranging from $2.75 to $3.62. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Incyte.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Thursday, February 14th. The biopharmaceutical company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.15. Incyte had a return on equity of 6.17% and a net margin of 5.82%. The company had revenue of $528.40 million for the quarter, compared to analysts’ expectations of $485.72 million. During the same period last year, the firm posted $0.02 EPS. Incyte’s revenue for the quarter was up 19.0% compared to the same quarter last year.

Several research firms recently commented on INCY. Goldman Sachs Group raised Incyte from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, January 15th. Guggenheim upgraded shares of Incyte from a “neutral” rating to a “buy” rating in a research note on Thursday, January 3rd. JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte in a research note on Thursday, January 10th. Gabelli upgraded shares of Incyte from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Wednesday, January 23rd. Finally, SunTrust Banks raised their price objective on shares of Incyte to $90.00 and gave the company a “buy” rating in a research report on Tuesday, February 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $91.82.

In other Incyte news, EVP Barry P. Flannelly sold 1,000 shares of the firm’s stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paula J. Swain sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $86.68, for a total transaction of $866,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock valued at $2,628,800 in the last quarter. 17.10% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Financial Gravity Wealth Inc. acquired a new stake in Incyte during the 1st quarter worth approximately $51,000. Strs Ohio raised its holdings in shares of Incyte by 19.5% in the first quarter. Strs Ohio now owns 19,241 shares of the biopharmaceutical company’s stock valued at $1,654,000 after purchasing an additional 3,136 shares during the last quarter. Barometer Capital Management Inc. acquired a new stake in shares of Incyte in the first quarter valued at approximately $3,320,000. Eqis Capital Management Inc. acquired a new stake in shares of Incyte in the first quarter valued at approximately $376,000. Finally, Gulf International Bank UK Ltd raised its holdings in shares of Incyte by 20.7% in the first quarter. Gulf International Bank UK Ltd now owns 46,007 shares of the biopharmaceutical company’s stock valued at $3,957,000 after purchasing an additional 7,895 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Shares of Incyte stock traded down $0.36 during trading hours on Friday, reaching $73.96. 1,689,855 shares of the company were exchanged, compared to its average volume of 1,328,068. Incyte has a 1 year low of $57.00 and a 1 year high of $88.83. The company has a current ratio of 4.31, a quick ratio of 4.29 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $15.85 billion, a P/E ratio of 90.20 and a beta of 1.39.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Further Reading: Is the QQQ ETF safe?

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.