Incyte Co. (INCY) Expected to Announce Quarterly Sales of $468.51 Million

Equities analysts predict that Incyte Co. (NASDAQ:INCY) will report sales of $468.51 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Incyte’s earnings, with the lowest sales estimate coming in at $445.42 million and the highest estimate coming in at $483.71 million. Incyte posted sales of $382.28 million in the same quarter last year, which suggests a positive year over year growth rate of 22.6%. The firm is expected to report its next earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that Incyte will report full-year sales of $2.01 billion for the current fiscal year, with estimates ranging from $1.94 billion to $2.06 billion. For the next year, analysts forecast that the business will post sales of $2.35 billion, with estimates ranging from $2.19 billion to $2.50 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Incyte.

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

A number of brokerages have issued reports on INCY. Argus raised their target price on shares of Incyte from $83.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, February 25th. Raymond James set a $100.00 target price on shares of Incyte and gave the stock a “buy” rating in a report on Friday, February 15th. Royal Bank of Canada raised their target price on shares of Incyte to $89.00 and gave the stock an “outperform” rating in a report on Friday, February 15th. BidaskClub cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Finally, SunTrust Banks lifted their price target on Incyte to $90.00 and gave the company a “buy” rating in a report on Tuesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $92.40.

In related news, EVP Paula J. Swain sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $70.00, for a total transaction of $2,100,000.00. Following the transaction, the executive vice president now owns 62,324 shares in the company, valued at $4,362,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Yao Wenqing sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the transaction, the executive vice president now owns 45,217 shares in the company, valued at approximately $3,391,275. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,354 shares of company stock worth $6,925,324. Corporate insiders own 17.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc increased its stake in shares of Incyte by 0.7% during the third quarter. Vanguard Group Inc now owns 18,380,804 shares of the biopharmaceutical company’s stock valued at $1,269,746,000 after acquiring an additional 120,700 shares during the period. BlackRock Inc. increased its stake in shares of Incyte by 1.1% during the fourth quarter. BlackRock Inc. now owns 15,262,962 shares of the biopharmaceutical company’s stock valued at $970,575,000 after acquiring an additional 167,751 shares during the period. BB Biotech AG increased its stake in shares of Incyte by 1.3% during the third quarter. BB Biotech AG now owns 3,808,322 shares of the biopharmaceutical company’s stock valued at $263,079,000 after acquiring an additional 50,000 shares during the period. Norges Bank acquired a new position in shares of Incyte during the fourth quarter valued at approximately $186,630,000. Finally, Geode Capital Management LLC increased its stake in shares of Incyte by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 2,360,606 shares of the biopharmaceutical company’s stock valued at $149,854,000 after acquiring an additional 166,510 shares during the period. Institutional investors and hedge funds own 90.33% of the company’s stock.

NASDAQ INCY traded down $0.75 during trading hours on Friday, reaching $84.31. The company’s stock had a trading volume of 1,638,200 shares, compared to its average volume of 1,555,708. The company has a quick ratio of 4.29, a current ratio of 4.31 and a debt-to-equity ratio of 0.01. Incyte has a 52 week low of $57.00 and a 52 week high of $93.25. The stock has a market capitalization of $18.21 billion, a P/E ratio of 102.82, a P/E/G ratio of 1.25 and a beta of 1.40.

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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Earnings History and Estimates for Incyte (NASDAQ:INCY)

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