$468.51 Million in Sales Expected for Incyte Co. (INCY) This Quarter
Wall Street brokerages expect Incyte Co. (NASDAQ:INCY) to announce $468.51 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Incyte’s earnings, with estimates ranging from $445.42 million to $483.71 million. Incyte reported sales of $382.28 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.6%. The business is scheduled to report its next earnings results on Tuesday, May 7th.
On average, analysts expect that Incyte will report full-year sales of $2.01 billion for the current financial year, with estimates ranging from $1.94 billion to $2.06 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.35 billion, with estimates ranging from $2.19 billion to $2.50 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Incyte.
Incyte (NASDAQ:INCY) last posted its earnings results on Thursday, February 14th. The biopharmaceutical company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.25 by $0.15. The firm had revenue of $528.40 million for the quarter, compared to analyst estimates of $485.72 million. Incyte had a return on equity of 6.17% and a net margin of 5.82%. Incyte’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the company earned $0.02 earnings per share.
Incyte stock traded down $0.41 during midday trading on Thursday, hitting $83.33. 950,429 shares of the company were exchanged, compared to its average volume of 1,747,831. The firm has a market cap of $18.00 billion, a price-to-earnings ratio of 101.62, a price-to-earnings-growth ratio of 1.08 and a beta of 1.34. Incyte has a fifty-two week low of $57.00 and a fifty-two week high of $96.33. The company has a quick ratio of 4.29, a current ratio of 4.31 and a debt-to-equity ratio of 0.01.
In other Incyte news, EVP Paula J. Swain sold 10,000 shares of the stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $81.19, for a total transaction of $811,900.00. Following the transaction, the executive vice president now owns 41,124 shares in the company, valued at $3,338,857.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paula J. Swain sold 30,000 shares of the stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $70.00, for a total value of $2,100,000.00. Following the transaction, the executive vice president now owns 62,324 shares in the company, valued at approximately $4,362,680. The disclosure for this sale can be found here. Insiders have sold 81,354 shares of company stock worth $6,058,524 in the last quarter. 17.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its position in shares of Incyte by 0.7% in the third quarter. Vanguard Group Inc now owns 18,380,804 shares of the biopharmaceutical company’s stock valued at $1,269,746,000 after acquiring an additional 120,700 shares in the last quarter. BlackRock Inc. lifted its position in shares of Incyte by 1.1% in the fourth quarter. BlackRock Inc. now owns 15,262,962 shares of the biopharmaceutical company’s stock valued at $970,575,000 after acquiring an additional 167,751 shares in the last quarter. BB Biotech AG lifted its position in shares of Incyte by 1.3% in the third quarter. BB Biotech AG now owns 3,808,322 shares of the biopharmaceutical company’s stock valued at $263,079,000 after acquiring an additional 50,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Incyte by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 2,360,606 shares of the biopharmaceutical company’s stock valued at $149,854,000 after acquiring an additional 166,510 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Incyte by 3.3% in the fourth quarter. Northern Trust Corp now owns 1,973,435 shares of the biopharmaceutical company’s stock valued at $125,490,000 after acquiring an additional 62,842 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.
Incyte Company Profile
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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