Incyte Co. (NASDAQ:INCY) Expected to Announce Quarterly Sales of $569.75 Million

Brokerages expect Incyte Co. (NASDAQ:INCY) to report $569.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Incyte’s earnings. The highest sales estimate is $593.98 million and the lowest is $559.00 million. Incyte posted sales of $468.40 million in the same quarter last year, which would indicate a positive year over year growth rate of 21.6%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 13th.

According to Zacks, analysts expect that Incyte will report full-year sales of $2.14 billion for the current year, with estimates ranging from $2.07 billion to $2.18 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.47 billion, with estimates ranging from $2.38 billion to $2.64 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Incyte.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.27. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The company had revenue of $551.58 million for the quarter, compared to analyst estimates of $534.73 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 22.7% compared to the same quarter last year.

Several research firms have recently issued reports on INCY. Morgan Stanley boosted their price target on shares of Incyte from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Thursday, September 5th. BMO Capital Markets began coverage on shares of Incyte in a research report on Thursday, September 12th. They issued a “market perform” rating and a $85.00 price target on the stock. Guggenheim set a $101.00 price target on shares of Incyte and gave the company a “buy” rating in a research report on Friday, September 27th. Cowen reissued a “buy” rating on shares of Incyte in a research report on Friday, September 27th. Finally, Oppenheimer raised shares of Incyte from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $85.00 to $100.00 in a research report on Thursday, September 5th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Incyte has an average rating of “Buy” and a consensus price target of $92.90.

In other news, Director Wendy L. Dixon sold 41,218 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $83.87, for a total value of $3,456,953.66. Following the transaction, the director now owns 22,916 shares of the company’s stock, valued at approximately $1,921,964.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Trower sold 16,500 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $80.45, for a total transaction of $1,327,425.00. Following the completion of the transaction, the insider now directly owns 23,907 shares in the company, valued at approximately $1,923,318.15. The disclosure for this sale can be found here. Insiders have sold a total of 91,794 shares of company stock worth $7,646,955 in the last ninety days. 17.10% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of INCY. CSat Investment Advisory L.P. boosted its stake in shares of Incyte by 180.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 676 shares of the biopharmaceutical company’s stock valued at $58,000 after purchasing an additional 435 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Incyte by 18.1% in the 2nd quarter. AQR Capital Management LLC now owns 995,804 shares of the biopharmaceutical company’s stock valued at $83,548,000 after purchasing an additional 152,553 shares in the last quarter. Morgan Stanley boosted its stake in shares of Incyte by 5.3% in the 2nd quarter. Morgan Stanley now owns 362,610 shares of the biopharmaceutical company’s stock valued at $30,806,000 after purchasing an additional 18,193 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Incyte by 115,574.2% in the 2nd quarter. Bessemer Group Inc. now owns 564,490 shares of the biopharmaceutical company’s stock valued at $47,959,000 after purchasing an additional 564,002 shares in the last quarter. Finally, Amica Mutual Insurance Co. purchased a new stake in shares of Incyte in the 2nd quarter valued at $407,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ INCY opened at $87.43 on Thursday. The company’s 50 day moving average is $78.68 and its 200-day moving average is $80.45. Incyte has a 12-month low of $57.00 and a 12-month high of $89.30. The company has a quick ratio of 5.01, a current ratio of 5.02 and a debt-to-equity ratio of 0.02. The firm has a market cap of $18.33 billion, a P/E ratio of 106.62, a price-to-earnings-growth ratio of 1.24 and a beta of 0.99.

Incyte Company Profile

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.

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Earnings History and Estimates for Incyte (NASDAQ:INCY)

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