Incyte (NASDAQ:INCY) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Incyte (NASDAQ:INCY) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12), Briefing.com reports. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS.

Incyte Trading Up 2.3 %

Shares of INCY stock traded up $1.70 during mid-day trading on Friday, hitting $75.82. The company’s stock had a trading volume of 981,214 shares, compared to its average volume of 2,329,013. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.87. Incyte has a 52 week low of $50.35 and a 52 week high of $76.33. The company’s fifty day simple moving average is $65.80 and its 200-day simple moving average is $61.68. The company has a market cap of $14.61 billion, a PE ratio of 533.11, a P/E/G ratio of 6.57 and a beta of 0.73.

Insider Buying and Selling

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Incyte news, insider Thomas Tray sold 572 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

INCY has been the topic of several research reports. Royal Bank of Canada boosted their target price on Incyte from $67.00 to $72.00 and gave the company a “sector perform” rating in a research note on Wednesday. Wolfe Research began coverage on Incyte in a report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 target price on the stock. Oppenheimer raised their target price on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and upped their price target for the stock from $68.00 to $90.00 in a research report on Tuesday. Finally, JMP Securities restated a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $76.74.

Incyte Company Profile

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.