Brokerages expect Incyte Co. (NASDAQ:INCY) to announce $0.40 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Incyte’s earnings, with estimates ranging from $0.33 to $0.44. Incyte reported earnings of $0.17 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 135.3%. The business is expected to report its next earnings report before the market opens on Tuesday, October 30th.

According to Zacks, analysts expect that Incyte will report full-year earnings of $1.14 per share for the current financial year, with EPS estimates ranging from $0.98 to $1.21. For the next fiscal year, analysts forecast that the firm will post earnings of $2.28 per share, with EPS estimates ranging from $1.41 to $2.88. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Incyte.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.22. The firm had revenue of $521.50 million during the quarter, compared to analysts’ expectations of $510.70 million. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. The business’s revenue was up 59.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) EPS.

A number of research firms have weighed in on INCY. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $88.00 price objective on shares of Incyte in a research report on Sunday, June 24th. Raymond James reaffirmed a “buy” rating on shares of Incyte in a research report on Friday, July 27th. Royal Bank of Canada raised Incyte from a “sector perform” rating to an “outperform” rating and set a $74.00 price objective for the company in a research report on Wednesday, August 15th. They noted that the move was a valuation call. Oppenheimer set a $70.00 price objective on Incyte and gave the stock a “hold” rating in a research report on Tuesday, July 17th. Finally, Morgan Stanley cut Incyte from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $94.43.

In other news, EVP Barry P. Flannelly sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paula J. Swain sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $70.00, for a total value of $700,000.00. Following the transaction, the executive vice president now directly owns 42,324 shares of the company’s stock, valued at $2,962,680. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,000 shares of company stock valued at $2,202,100. Company insiders own 17.20% of the company’s stock.

Several hedge funds have recently modified their holdings of INCY. Resources Investment Advisors Inc. increased its stake in Incyte by 93.8% in the 2nd quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 841 shares in the last quarter. Assetmark Inc. increased its stake in Incyte by 221.5% in the 1st quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock valued at $117,000 after purchasing an additional 968 shares in the last quarter. First Mercantile Trust Co. increased its stake in Incyte by 75.8% in the 2nd quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock valued at $145,000 after purchasing an additional 930 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Incyte in the 2nd quarter valued at approximately $161,000. Finally, Seven Eight Capital LP purchased a new position in Incyte in the 3rd quarter valued at approximately $202,000. 91.57% of the stock is owned by institutional investors and hedge funds.

Incyte stock opened at $66.06 on Wednesday. Incyte has a twelve month low of $60.22 and a twelve month high of $117.95. The company has a quick ratio of 4.32, a current ratio of 4.34 and a debt-to-equity ratio of 0.01. The company has a market cap of $13.70 billion, a price-to-earnings ratio of 460.29 and a beta of 1.12.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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