$384.57 Million in Sales Expected for Incyte Co. (INCY) This Quarter
Equities research analysts expect Incyte Co. (NASDAQ:INCY) to report sales of $384.57 million for the current quarter, according to Zacks. Sixteen analysts have provided estimates for Incyte’s earnings, with the highest sales estimate coming in at $434.50 million and the lowest estimate coming in at $349.47 million. Incyte posted sales of $384.08 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.1%. The firm is scheduled to report its next earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that Incyte will report full year sales of $384.57 million for the current fiscal year, with estimates ranging from $1.61 billion to $1.88 billion. For the next financial year, analysts forecast that the business will report sales of $2.06 billion per share, with estimates ranging from $1.82 billion to $2.28 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Incyte.
Incyte (NASDAQ:INCY) last announced its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.54. Incyte had a negative return on equity of 11.85% and a negative net margin of 20.38%. The company had revenue of $444.20 million for the quarter, compared to analyst estimates of $435.23 million. During the same period in the prior year, the company posted $0.05 EPS. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year.
In other news, insider David W. Gryska sold 1,952 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.56, for a total value of $167,013.12. Following the sale, the insider now owns 12,922 shares in the company, valued at $1,105,606.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Reid M. Huber sold 696 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $98.01, for a total value of $68,214.96. The disclosure for this sale can be found here. Insiders sold 16,366 shares of company stock worth $1,557,396 in the last 90 days. Company insiders own 17.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Sands Capital Management LLC boosted its stake in shares of Incyte by 8.2% in the fourth quarter. Sands Capital Management LLC now owns 8,191,287 shares of the biopharmaceutical company’s stock worth $775,797,000 after buying an additional 621,323 shares during the last quarter. Capital International Investors boosted its stake in shares of Incyte by 1.4% in the third quarter. Capital International Investors now owns 6,494,566 shares of the biopharmaceutical company’s stock worth $758,176,000 after buying an additional 87,369 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Incyte by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 1,938,238 shares of the biopharmaceutical company’s stock worth $183,205,000 after buying an additional 105,692 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Incyte by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,682,019 shares of the biopharmaceutical company’s stock worth $159,304,000 after buying an additional 7,463 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Incyte by 24.3% in the third quarter. Jennison Associates LLC now owns 1,633,173 shares of the biopharmaceutical company’s stock worth $190,657,000 after buying an additional 319,191 shares during the last quarter. Hedge funds and other institutional investors own 89.43% of the company’s stock.
Shares of Incyte (NASDAQ INCY) traded up $2.61 during trading hours on Wednesday, reaching $87.80. The company had a trading volume of 1,440,106 shares, compared to its average volume of 1,870,000. Incyte has a 12 month low of $80.85 and a 12 month high of $153.15. The firm has a market cap of $19,100.00, a price-to-earnings ratio of -56.28 and a beta of 0.59. The company has a quick ratio of 3.99, a current ratio of 4.01 and a debt-to-equity ratio of 0.01.
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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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