Brokerages Expect Incyte Corporation (NASDAQ:INCY) Will Announce Quarterly Sales of $316.11 Million

Equities research analysts expect Incyte Corporation (NASDAQ:INCY) to post $316.11 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Incyte Corporation’s earnings. The highest sales estimate is $336.03 million and the lowest is $300.20 million. Incyte Corporation reported sales of $246.29 million during the same quarter last year, which indicates a positive year over year growth rate of 28.3%. The company is expected to announce its next earnings results before the market opens on Tuesday, August 1st.

On average, analysts expect that Incyte Corporation will report full-year sales of $316.11 million for the current year, with estimates ranging from $1.37 billion to $1.51 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.65 billion per share, with estimates ranging from $1.51 billion to $1.83 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Incyte Corporation.

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

A number of research analysts have weighed in on the company. Raymond James Financial, Inc. lowered Incyte Corporation from an “outperform” rating to a “hold” rating in a report on Thursday, April 6th. Royal Bank Of Canada restated a “buy” rating and issued a $138.00 price objective on shares of Incyte Corporation in a report on Friday, March 31st. TheStreet lowered Incyte Corporation from a “c+” rating to a “d+” rating in a report on Thursday, May 4th. SunTrust Banks, Inc. decreased their price objective on Incyte Corporation from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, April 19th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $148.00 price objective on shares of Incyte Corporation in a report on Tuesday, June 20th. Seven 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 currently has an average rating of “Buy” and a consensus price target of $141.80.

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Incyte Corporation (NASDAQ INCY) traded up 0.18% during trading on Friday, hitting $130.85. 975,620 shares of the stock traded hands. Incyte Corporation has a 52-week low of $75.52 and a 52-week high of $153.15. The stock has a 50 day moving average price of $126.52 and a 200-day moving average price of $124.71. The stock’s market cap is $26.79 billion.

In related news, insider Paul Trower sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $126.18, for a total transaction of $378,540.00. Following the completion of the sale, the insider now owns 12,148 shares in the company, valued at $1,532,834.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David W. Gryska sold 16,756 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $116.60, for a total value of $1,953,749.60. Following the sale, the chief financial officer now owns 35,771 shares of the company’s stock, valued at approximately $4,170,898.60. The disclosure for this sale can be found here. Over the last three months, insiders have bought 1,500 shares of company stock valued at $185,530 and have sold 47,275 shares valued at $5,758,636. Insiders own 13.70% of the company’s stock.

A number of large investors have recently bought and sold shares of INCY. Gulf International Bank UK Ltd boosted its stake in Incyte Corporation by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 52,125 shares of the biopharmaceutical company’s stock valued at $6,967,000 after buying an additional 750 shares during the last quarter. Exxonmobil Investment Management Inc. TX acquired a new stake in Incyte Corporation during the first quarter valued at $5,229,000. Douglass Winthrop Advisors LLC acquired a new stake in Incyte Corporation during the first quarter valued at $201,000. CT Financial Advisors LLC boosted its stake in Incyte Corporation by 4.7% in the first quarter. CT Financial Advisors LLC now owns 10,742 shares of the biopharmaceutical company’s stock valued at $1,436,000 after buying an additional 481 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in Incyte Corporation during the first quarter valued at $20,298,000. Hedge funds and other institutional investors own 92.35% of the company’s stock.

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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