FY2020 Earnings Estimate for Incyte Co. Issued By Gabelli (INCY)
Incyte Co. (NASDAQ:INCY) – Investment analysts at Gabelli increased their FY2020 earnings per share estimates for Incyte in a report issued on Wednesday. Gabelli analyst J. He now forecasts that the biopharmaceutical company will earn $4.35 per share for the year, up from their previous estimate of $4.30.
Several other research firms have also weighed in on INCY. BMO Capital Markets lowered their price target on Incyte from $163.00 to $162.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. Royal Bank of Canada lowered their price target on Incyte from $136.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 21st. Oppenheimer set a $135.00 price target on Incyte and gave the stock a “hold” rating in a research report on Tuesday, October 31st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Incyte in a research report on Tuesday, October 31st. Finally, Deutsche Bank initiated coverage on Incyte in a research report on Tuesday, December 12th. They set a “hold” rating and a $106.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $143.71.
Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.11. The firm had revenue of $381.50 million for the quarter, compared to analyst estimates of $360.34 million. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The business’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 EPS.
In related news, insider David W. Gryska sold 3,915 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $105.63, for a total value of $413,541.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vijay K. Iyengar sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $97.26, for a total value of $486,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 44,878 shares of company stock valued at $4,636,494 over the last quarter. 17.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in INCY. Riverhead Capital Management LLC boosted its stake in Incyte by 22.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,030 shares of the biopharmaceutical company’s stock valued at $381,000 after purchasing an additional 546 shares during the period. Seven Eight Capital LP bought a new stake in Incyte in the 2nd quarter valued at $129,000. Ameriprise Financial Inc. boosted its stake in Incyte by 6.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 228,079 shares of the biopharmaceutical company’s stock valued at $28,722,000 after purchasing an additional 13,564 shares during the period. PNC Financial Services Group Inc. boosted its stake in Incyte by 17.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 36,123 shares of the biopharmaceutical company’s stock valued at $4,549,000 after purchasing an additional 5,284 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in Incyte by 55.8% in the 2nd quarter. Rafferty Asset Management LLC now owns 12,111 shares of the biopharmaceutical company’s stock valued at $1,525,000 after purchasing an additional 4,340 shares during the period. Institutional investors and hedge funds own 90.76% of the company’s stock.
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Incyte 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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