FY2020 Earnings Estimate for Incyte Corporation Issued By Gabelli (INCY)
Incyte Corporation (NASDAQ:INCY) – Equities researchers at Gabelli cut their FY2020 earnings per share estimates for shares of Incyte Corporation in a report issued on Monday. Gabelli analyst J. He now expects that the biopharmaceutical company will earn $4.20 per share for the year, down from their prior estimate of $4.25. Gabelli has a “Buy” rating and a $174.00 price target on the stock. Gabelli also issued estimates for Incyte Corporation’s FY2021 earnings at $5.20 EPS.
Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The firm had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. During the same quarter last year, the firm earned $0.18 earnings per share. The company’s revenue was up 32.5% compared to the same quarter last year.
INCY has been the topic of several other reports. Oppenheimer Holdings, Inc. set a $125.00 price objective on shares of Incyte Corporation and gave the company a “hold” rating in a research report on Thursday, May 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $163.00 price objective (down from $172.00) on shares of Incyte Corporation in a research report on Monday. Jefferies Group LLC reiterated a “buy” rating and issued a $148.00 price objective on shares of Incyte Corporation in a research report on Thursday, July 27th. J P Morgan Chase & Co set a $149.00 price objective on shares of Incyte Corporation and gave the company a “buy” rating in a research report on Thursday, May 18th. Finally, Credit Suisse Group set a $152.00 price objective on shares of Incyte Corporation and gave the company a “buy” rating in a research report on Sunday, July 16th. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Incyte Corporation presently has an average rating of “Buy” and a consensus target price of $142.16.
Shares of Incyte Corporation (INCY) traded down 0.51% on Wednesday, hitting $119.15. 2,991,799 shares of the stock were exchanged. Incyte Corporation has a one year low of $79.75 and a one year high of $153.15. The firm’s market cap is $24.51 billion. The firm’s 50 day moving average price is $127.79 and its 200 day moving average price is $130.32.
In other news, insider David W. Gryska sold 599 shares of Incyte Corporation stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $129.74, for a total value of $77,714.26. Following the transaction, the insider now directly owns 19,614 shares of the company’s stock, valued at $2,544,720.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker bought 100,000 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was purchased at an average cost of $132.00 per share, for a total transaction of $13,200,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 53,538 shares of company stock worth $7,118,269 in the last ninety days. Corporate insiders own 17.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in INCY. State Street Corp increased its position in shares of Incyte Corporation by 110.7% in the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock worth $1,013,437,000 after acquiring an additional 3,983,207 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Incyte Corporation by 22.7% in the first quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock worth $2,060,638,000 after acquiring an additional 2,847,907 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Incyte Corporation by 4,570.1% in the second quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after acquiring an additional 1,022,979 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Incyte Corporation in the first quarter worth approximately $85,751,000. Finally, Geode Capital Management LLC increased its position in shares of Incyte Corporation by 42.0% in the first quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock worth $237,618,000 after acquiring an additional 526,163 shares in the last quarter. 91.06% of the stock is currently owned by institutional investors and hedge funds.
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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