Incyte Corporation (INCY) Expected to Post Quarterly Sales of $356.96 Million

Equities research analysts predict that Incyte Corporation (NASDAQ:INCY) will post sales of $356.96 million for the current fiscal quarter, Zacks reports. Sixteen analysts have issued estimates for Incyte Corporation’s earnings, with estimates ranging from $335.03 million to $378.63 million. Incyte Corporation posted sales of $269.47 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, November 7th.

On average, analysts expect that Incyte Corporation will report full year sales of $356.96 million for the current year, with estimates ranging from $1.37 billion to $1.49 billion. For the next year, analysts anticipate that the business will post sales of $1.67 billion per share, with estimates ranging from $1.52 billion to $1.81 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Incyte Corporation.

Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.01. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was up 32.5% on a year-over-year basis.

A number of equities analysts have commented on the stock. J P Morgan Chase & Co reiterated a “buy” rating and issued a $149.00 price objective on shares of Incyte Corporation in a report on Thursday, August 31st. Oppenheimer Holdings, Inc. reiterated a “hold” rating and issued a $135.00 price objective on shares of Incyte Corporation in a report on Thursday, August 31st. BidaskClub upgraded shares of Incyte Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Incyte Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, TheStreet upgraded shares of Incyte Corporation from a “d+” rating to a “c” rating in a report on Wednesday, May 24th. Seven equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Incyte Corporation has a consensus rating of “Buy” and a consensus price target of $140.81.

In related news, insider David W. Gryska sold 599 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $129.74, for a total value of $77,714.26. Following the completion of the sale, the insider now owns 19,614 shares in the company, valued at approximately $2,544,720.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Steven H. Stein sold 9,883 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $125.00, for a total transaction of $1,235,375.00. Following the completion of the sale, the executive vice president now owns 18,518 shares of the company’s stock, valued at approximately $2,314,750. The disclosure for this sale can be found here. Insiders have sold 53,538 shares of company stock valued at $7,118,269 over the last 90 days. 17.70% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Incyte Corporation by 11.1% in the 2nd quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after acquiring an additional 1,709,685 shares in the last quarter. State Street Corp lifted its position in shares of Incyte Corporation by 110.7% in the 1st quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock valued at $1,013,437,000 after acquiring an additional 3,983,207 shares in the last quarter. Capital International Investors lifted its position in shares of Incyte Corporation by 4.0% in the 2nd quarter. Capital International Investors now owns 6,407,197 shares of the biopharmaceutical company’s stock valued at $806,730,000 after acquiring an additional 246,134 shares in the last quarter. BB Biotech AG lifted its position in shares of Incyte Corporation by 0.7% in the 2nd quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock valued at $442,551,000 after acquiring an additional 25,000 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Incyte Corporation by 8.0% in the 1st quarter. FMR LLC now owns 2,980,864 shares of the biopharmaceutical company’s stock valued at $398,452,000 after acquiring an additional 219,923 shares in the last quarter. Institutional investors and hedge funds own 91.06% of the company’s stock.

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Shares of Incyte Corporation (NASDAQ:INCY) opened at 124.95 on Tuesday. The firm has a 50-day moving average price of $129.12 and a 200-day moving average price of $130.54. The firm’s market capitalization is $25.70 billion. Incyte Corporation has a 1-year low of $77.58 and a 1-year high of $153.15.

Incyte Corporation Company Profile

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 Corporation (NASDAQ:INCY)

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