Incyte (NASDAQ:INCY) Issues Earnings Results

Incyte (NASDAQ:INCY) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60), Briefing.com reports. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 EPS.

Incyte Stock Performance

Incyte stock traded down $0.65 during trading hours on Thursday, reaching $64.42. 2,021,391 shares of the company were exchanged, compared to its average volume of 2,562,979. The firm has a market cap of $14.46 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 1.56 and a beta of 0.73. The company has a current ratio of 1.89, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $61.60 and a 200 day moving average of $58.76. Incyte has a 12 month low of $50.27 and a 12 month high of $70.36.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on INCY shares. Bank of America boosted their price target on shares of Incyte from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday. Oppenheimer reduced their price target on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a report on Friday, July 26th. TD Cowen reduced their price target on shares of Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Royal Bank of Canada upped their price objective on shares of Incyte from $61.00 to $66.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.24.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Incyte news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the transaction, the executive vice president now owns 36,701 shares of the company’s stock, valued at $2,569,070. The disclosure for this sale can be found here. Insiders sold 45,282 shares of company stock valued at $2,876,911 over the last 90 days. 17.50% of the stock is currently owned by company insiders.

About Incyte

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.