Incyte Corporation (NASDAQ:INCY) – Equities researchers at Leerink Swann dropped their Q4 2017 EPS estimates for shares of Incyte Corporation in a research note issued on Monday. Leerink Swann analyst M. Schmidt now forecasts that the biopharmaceutical company will post earnings per share of $0.12 for the quarter, down from their prior estimate of $0.15. Leerink Swann also issued estimates for Incyte Corporation’s FY2018 earnings at $0.52 EPS, FY2019 earnings at $1.47 EPS and FY2020 earnings at $3.08 EPS.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The company had revenue of $326.40 million for the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm’s revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. ILLEGAL ACTIVITY WARNING: “Research Analysts Set Expectations for Incyte Corporation’s Q4 2017 Earnings (INCY)” was originally published by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this story on another domain, it was stolen and reposted in violation of US & international copyright and trademark law. The legal version of this story can be read at https://sportsperspectives.com/2017/10/11/research-analysts-set-expectations-for-incyte-corporations-q4-2017-earnings-incy.html.
A number of other equities research analysts have also recently weighed in on the company. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating and set a $135.00 price target on shares of Incyte Corporation in a report on Thursday, August 31st. BMO Capital Markets reaffirmed a “buy” rating and set a $172.00 price target on shares of Incyte Corporation in a report on Friday, July 21st. Barclays PLC reaffirmed an “overweight” rating and set a $165.00 price target (down previously from $180.00) on shares of Incyte Corporation in a report on Wednesday, August 2nd. Royal Bank Of Canada began coverage on Incyte Corporation in a report on Thursday, September 14th. They set a “sector perform” rating and a $136.00 price target on the stock. Finally, Raymond James Financial, Inc. raised Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 price target on the stock in a report on Monday, September 11th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Incyte Corporation currently has a consensus rating of “Buy” and an average target price of $144.84.
Shares of Incyte Corporation (NASDAQ:INCY) opened at 114.77 on Wednesday. Incyte Corporation has a 1-year low of $83.01 and a 1-year high of $153.15. The firm’s 50-day moving average price is $121.00 and its 200 day moving average price is $126.64. The stock’s market capitalization is $23.61 billion.
Hedge funds and other institutional investors have recently bought and sold shares of the business. D. Scott Neal Inc. purchased a new position in Incyte Corporation during the 2nd quarter worth approximately $103,000. Tower Research Capital LLC TRC purchased a new position in shares of Incyte Corporation during the 1st quarter valued at $105,000. Cornerstone Advisors Inc. grew its holdings in shares of Incyte Corporation by 19.6% during the 2nd quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 145 shares in the last quarter. Exane Asset Management purchased a new position in shares of Incyte Corporation during the 2nd quarter valued at $126,000. Finally, Seven Eight Capital LP purchased a new position in shares of Incyte Corporation during the 2nd quarter valued at $129,000. Hedge funds and other institutional investors own 88.91% of the company’s stock.
In other Incyte Corporation news, President Herve Hoppenot sold 70,502 shares of Incyte Corporation stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $119.45, for a total transaction of $8,421,463.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bros. Advisors Lp Baker acquired 100,000 shares of the stock in a transaction on Friday, September 8th. The shares were purchased at an average price of $132.00 per share, for a total transaction of $13,200,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 109,452 shares of company stock worth $13,707,134. Corporate insiders own 17.70% of the company’s stock.
Incyte Corporation 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).
Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with MarketBeat.com's FREE daily email newsletter.