Analysts Expect Incyte Corporation (NASDAQ:INCY) to Post -$0.06 Earnings Per Share

Equities analysts expect Incyte Corporation (NASDAQ:INCY) to post earnings of ($0.06) per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Incyte Corporation’s earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at $0.02. Incyte Corporation posted earnings of $0.18 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 133.3%. The firm is expected to issue its next earnings report before the market opens on Tuesday, August 1st.

According to Zacks, analysts expect that Incyte Corporation will report full year earnings of ($0.80) per share for the current financial year, with EPS estimates ranging from ($0.95) to ($0.55). For the next year, analysts expect that the company will post earnings of $0.40 per share, with EPS estimates ranging from ($0.70) to $1.19. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Incyte Corporation.

Incyte Corporation (NASDAQ:INCY) last issued its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.97) by $0.01. The business had revenue of $384.08 million for the quarter, compared to analysts’ expectations of $359.19 million. Incyte Corporation had a negative return on equity of 20.09% and a negative net margin of 8.72%. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS.

A number of analysts recently issued reports on the stock. Credit Suisse Group set a $152.00 target price on shares of Incyte Corporation and gave the stock a “buy” rating in a research report on Sunday. BidaskClub lowered shares of Incyte Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $165.00 price target on shares of Incyte Corporation in a report on Tuesday, July 4th. Barclays PLC lifted their price target on shares of Incyte Corporation from $135.00 to $185.00 and gave the company an “overweight” rating in a report on Tuesday, July 4th. Finally, Cowen and Company reissued an “outperform” rating and issued a $130.00 target price on shares of Incyte Corporation in a research note on Monday, July 3rd. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $141.80.

In related news, insider David W. Gryska sold 599 shares of the company’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $129.74, for a total transaction of $77,714.26. Following the completion of the transaction, the insider now directly owns 19,614 shares in the company, valued at approximately $2,544,720.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David W. Gryska sold 16,756 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $116.60, for a total transaction of $1,953,749.60. Following the transaction, the chief financial officer now owns 35,771 shares of the company’s stock, valued at $4,170,898.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 1,500 shares of company stock valued at $185,530 and have sold 47,275 shares valued at $5,758,636. 13.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in INCY. LS Investment Advisors LLC boosted its position in shares of Incyte Corporation by 12.9% in the second quarter. LS Investment Advisors LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $704,000 after buying an additional 641 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in Incyte Corporation during the second quarter valued at $2,242,000. D. Scott Neal Inc. purchased a new stake in Incyte Corporation during the second quarter valued at $103,000. Eqis Capital Management Inc. raised its stake in Incyte Corporation by 0.7% in the second quarter. Eqis Capital Management Inc. now owns 19,811 shares of the biopharmaceutical company’s stock valued at $2,494,000 after buying an additional 135 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Incyte Corporation by 511.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 27,651 shares of the biopharmaceutical company’s stock valued at $3,482,000 after buying an additional 23,129 shares during the last quarter. Institutional investors own 92.35% of the company’s stock.

Incyte Corporation (NASDAQ:INCY) traded down 0.03% during mid-day trading on Thursday, hitting $130.58. 671,764 shares of the stock traded hands. The stock’s 50 day moving average is $126.52 and its 200-day moving average is $124.71. The company’s market cap is $26.74 billion. Incyte Corporation has a 12 month low of $75.52 and a 12 month high of $153.15.

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Incyte Corporation Company Profile

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).

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