Incyte Co. (NASDAQ:INCY) Forecasted to Earn FY2021 Earnings of $2.22 Per Share

Incyte Co. (NASDAQ:INCY) – Investment analysts at Oppenheimer cut their FY2021 earnings per share estimates for Incyte in a research note issued on Wednesday, September 22nd. Oppenheimer analyst J. Olson now anticipates that the biopharmaceutical company will post earnings per share of $2.22 for the year, down from their previous estimate of $2.25. Oppenheimer also issued estimates for Incyte’s Q4 2021 earnings at $0.63 EPS, FY2024 earnings at $6.28 EPS and FY2025 earnings at $8.53 EPS.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 3rd. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.26. The company had revenue of $705.71 million for the quarter, compared to analysts’ expectations of $686.95 million. Incyte had a return on equity of 15.77% and a net margin of 12.41%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share.

Other analysts also recently issued reports about the stock. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Tuesday, June 15th. Morgan Stanley cut their target price on shares of Incyte from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday. JMP Securities reissued a “buy” rating and set a $124.00 target price on shares of Incyte in a research note on Friday. Benchmark raised shares of Incyte from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Tuesday, July 20th. Finally, TheStreet downgraded shares of Incyte from a “b-” rating to a “c+” rating in a research note on Friday, August 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $95.38.

NASDAQ INCY opened at $69.00 on Friday. The stock has a market capitalization of $15.24 billion, a P/E ratio of 45.40, a P/E/G ratio of 0.88 and a beta of 0.76. Incyte has a 1 year low of $68.62 and a 1 year high of $101.47. The business’s fifty day moving average is $75.35 and its two-hundred day moving average is $80.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 3.97.

In other Incyte news, EVP Dashyant Dhanak sold 388 shares of the company’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $76.71, for a total transaction of $29,763.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yao Wenqing sold 27,194 shares of the company’s stock in a transaction dated Tuesday, June 29th. The shares were sold at an average price of $85.37, for a total transaction of $2,321,551.78. The disclosure for this sale can be found here. Insiders sold 32,493 shares of company stock worth $2,735,797 over the last ninety days. 15.80% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. CX Institutional lifted its stake in shares of Incyte by 38.4% in the second quarter. CX Institutional now owns 483 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 134 shares during the period. Ameritas Investment Partners Inc. raised its position in Incyte by 2.0% in the second quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the biopharmaceutical company’s stock worth $622,000 after purchasing an additional 142 shares in the last quarter. Parallel Advisors LLC raised its position in Incyte by 81.2% in the second quarter. Parallel Advisors LLC now owns 366 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 164 shares in the last quarter. Xponance Inc. raised its position in Incyte by 0.7% in the first quarter. Xponance Inc. now owns 27,222 shares of the biopharmaceutical company’s stock worth $2,212,000 after purchasing an additional 192 shares in the last quarter. Finally, Virtus ETF Advisers LLC increased its holdings in shares of Incyte by 2.8% during the first quarter. Virtus ETF Advisers LLC now owns 7,204 shares of the biopharmaceutical company’s stock worth $585,000 after buying an additional 193 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Incyte Company Profile

Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development and commercialization of proprietary 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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Earnings History and Estimates for Incyte (NASDAQ:INCY)

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