Incyte Co. (NASDAQ:INCY) Expected to Announce Quarterly Sales of $739.56 Million

Wall Street analysts expect Incyte Co. (NASDAQ:INCY) to report $739.56 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Incyte’s earnings. The lowest sales estimate is $728.05 million and the highest is $765.61 million. Incyte reported sales of $620.64 million during the same quarter last year, which indicates a positive year-over-year growth rate of 19.2%. The firm is expected to report its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that Incyte will report full-year sales of $2.84 billion for the current fiscal year, with estimates ranging from $2.79 billion to $2.92 billion. For the next fiscal year, analysts forecast that the company will report sales of $3.43 billion, with estimates ranging from $3.25 billion to $3.86 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Incyte.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, August 3rd. The biopharmaceutical company reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.26. Incyte had a return on equity of 15.77% and a net margin of 12.41%. The company had revenue of $705.71 million during the quarter, compared to analyst estimates of $686.95 million. During the same period last year, the company posted $1.24 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year.

INCY has been the topic of several recent research reports. Benchmark upgraded Incyte from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a report on Tuesday, July 20th. TheStreet cut Incyte from a “b-” rating to a “c+” rating in a report on Friday, August 20th. William Blair restated an “outperform” rating on shares of Incyte in a report on Tuesday, June 15th. Royal Bank of Canada reduced their target price on Incyte from $92.00 to $88.00 and set a “sector perform” rating on the stock in a report on Friday, June 25th. Finally, SVB Leerink reduced their target price on Incyte from $70.00 to $67.00 and set an “underperform” rating on the stock in a report on Wednesday, August 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $92.29.

Incyte stock traded down $0.21 during mid-day trading on Tuesday, hitting $72.24. The stock had a trading volume of 859,045 shares, compared to its average volume of 1,224,394. The stock has a 50-day simple moving average of $76.57 and a two-hundred day simple moving average of $80.37. The stock has a market capitalization of $15.95 billion, a PE ratio of 47.53, a P/E/G ratio of 0.88 and a beta of 0.76. Incyte has a 12 month low of $70.97 and a 12 month high of $101.47. The company has a current ratio of 3.97, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01.

In related news, EVP Dashyant Dhanak sold 388 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $76.71, for a total transaction of $29,763.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Yao Wenqing sold 27,194 shares of the business’s stock in a transaction that occurred on Tuesday, June 29th. The stock was sold at an average price of $85.37, for a total value of $2,321,551.78. The disclosure for this sale can be found here. In the last three months, insiders sold 32,493 shares of company stock worth $2,735,797. 15.80% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Incyte by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,470,534 shares of the biopharmaceutical company’s stock valued at $1,722,186,000 after purchasing an additional 60,751 shares during the period. Dodge & Cox boosted its stake in Incyte by 214.9% in the 2nd quarter. Dodge & Cox now owns 13,597,536 shares of the biopharmaceutical company’s stock valued at $1,143,961,000 after purchasing an additional 9,280,144 shares during the period. State Street Corp boosted its stake in Incyte by 1.1% in the 2nd quarter. State Street Corp now owns 8,441,379 shares of the biopharmaceutical company’s stock valued at $710,173,000 after purchasing an additional 90,130 shares during the period. Geode Capital Management LLC boosted its stake in Incyte by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,626,057 shares of the biopharmaceutical company’s stock valued at $304,297,000 after purchasing an additional 242,831 shares during the period. Finally, ARK Investment Management LLC boosted its stake in Incyte by 67.6% in the 1st quarter. ARK Investment Management LLC now owns 2,988,149 shares of the biopharmaceutical company’s stock valued at $242,847,000 after purchasing an additional 1,205,769 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

About Incyte

Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development and commercialization of proprietary 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 (NASDAQ:INCY)

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