Incyte Corporation (NASDAQ:INCY) – Analysts at Leerink Swann reduced their Q4 2017 EPS estimates for shares of Incyte Corporation in a research note issued to investors on Monday. Leerink Swann analyst M. Schmidt now expects that the biopharmaceutical company will earn $0.12 per share for the quarter, down from their previous forecast of $0.15. Leerink Swann also issued estimates for Incyte Corporation’s FY2018 earnings at $0.52 EPS, FY2019 earnings at $1.47 EPS and FY2020 earnings at $3.08 EPS.
Incyte Corporation (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The business had revenue of $326.40 million for the quarter, compared to the consensus estimate of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. Incyte Corporation’s revenue was up 32.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 EPS.
COPYRIGHT VIOLATION WARNING: This piece of content was posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://www.themarketsdaily.com/2017/10/13/leerink-swann-analysts-lower-earnings-estimates-for-incyte-corporation-incy.html.
A number of other research firms have also commented on INCY. Oppenheimer Holdings, Inc. reiterated a “hold” rating and set a $135.00 price target on shares of Incyte Corporation in a report on Thursday, August 31st. BMO Capital Markets reiterated a “buy” rating and set a $172.00 price target on shares of Incyte Corporation in a report on Friday, July 21st. Barclays PLC reiterated an “overweight” rating and set a $165.00 price target (down from $180.00) on shares of Incyte Corporation in a report on Wednesday, August 2nd. Royal Bank Of Canada started coverage on shares of Incyte Corporation in a report on Thursday, September 14th. They set a “sector perform” rating and a $136.00 price target for the company. Finally, Raymond James Financial, Inc. upgraded shares of Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 price target for the company in a report on Monday, September 11th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Incyte Corporation has an average rating of “Buy” and a consensus target price of $144.84.
Incyte Corporation (INCY) traded up 0.99% during trading on Wednesday, hitting $113.85. 213,668 shares of the stock traded hands. Incyte Corporation has a 12 month low of $83.01 and a 12 month high of $153.15. The company has a 50-day moving average price of $120.34 and a 200-day moving average price of $126.43. The stock’s market cap is $23.42 billion.
In other news, EVP Barry P. Flannelly sold 714 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $124.25, for a total value of $88,714.50. Following the transaction, the executive vice president now owns 15,496 shares in the company, valued at approximately $1,925,378. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven H. Stein sold 6,485 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $131.09, for a total transaction of $850,118.65. Following the completion of the transaction, the executive vice president now owns 19,356 shares in the company, valued at approximately $2,537,378.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,452 shares of company stock worth $13,707,134. Insiders own 17.70% of the company’s stock.
Several large investors have recently modified their holdings of INCY. State Street Corp lifted its stake 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 worth $1,013,437,000 after purchasing an additional 3,983,207 shares during the period. Vanguard Group Inc. lifted its stake in shares of Incyte Corporation by 22.7% in the 1st quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock worth $2,060,638,000 after purchasing an additional 2,847,907 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Incyte Corporation by 4,570.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after purchasing an additional 1,022,979 shares during the period. Geode Capital Management LLC lifted its stake in shares of Incyte Corporation by 42.0% in the 1st quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock worth $237,618,000 after purchasing an additional 526,163 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Incyte Corporation by 64.1% in the 2nd quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock worth $165,443,000 after purchasing an additional 513,423 shares during the period. Hedge funds and other institutional investors own 88.91% of the company’s stock.
About Incyte Corporation
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).
Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with MarketBeat.com's FREE daily email newsletter.