Wall Street analysts forecast that Incyte Co. (NASDAQ:INCY) will report sales of $472.65 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Incyte’s earnings, with estimates ranging from $456.80 million to $494.30 million. Incyte reported sales of $444.16 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.4%. The company is scheduled to report its next earnings report on Thursday, February 21st.
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 $1.85 billion. For the next year, analysts expect that the company will post sales of $2.02 billion, with estimates ranging from $1.94 billion to $2.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Incyte.
Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The firm had revenue of $449.68 million during the quarter, compared to the consensus estimate of $448.34 million. Incyte had a negative net margin of 6.07% and a positive return on equity of 2.23%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 earnings per share.
In other Incyte news, EVP Barry P. Flannelly sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paula J. Swain sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $70.00, for a total value of $700,000.00. Following the transaction, the executive vice president now directly owns 42,324 shares in the company, valued at approximately $2,962,680. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,000 shares of company stock worth $2,202,100. Company insiders own 17.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB increased its position in Incyte by 18.7% during the third quarter. Nordea Investment Management AB now owns 10,188 shares of the biopharmaceutical company’s stock worth $703,000 after buying an additional 1,607 shares during the last quarter. Ashford Capital Management Inc. grew its position in shares of Incyte by 9.8% in the third quarter. Ashford Capital Management Inc. now owns 171,155 shares of the biopharmaceutical company’s stock valued at $11,823,000 after purchasing an additional 15,325 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Incyte by 351.2% in the third quarter. AQR Capital Management LLC now owns 594,791 shares of the biopharmaceutical company’s stock valued at $41,088,000 after purchasing an additional 462,965 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Incyte in the third quarter valued at approximately $251,000. Finally, Sector Gamma AS acquired a new position in shares of Incyte in the third quarter valued at approximately $14,767,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Incyte stock traded up $1.48 during trading on Tuesday, reaching $66.51. The stock had a trading volume of 1,171,558 shares, compared to its average volume of 1,846,222. The firm has a market cap of $14.15 billion, a price-to-earnings ratio of 103.92 and a beta of 1.12. Incyte has a 52 week low of $58.33 and a 52 week high of $107.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.02 and a quick ratio of 4.01.
Incyte Company Profile
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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