Incyte Corporation (INCY) Issues Earnings Results, Beats Estimates By $0.11 EPS
Incyte Corporation (NASDAQ:INCY) posted its quarterly earnings data on Tuesday. The biopharmaceutical company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11, Bloomberg Earnings reports. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm had revenue of $381.50 million during the quarter, compared to analyst estimates of $360.34 million. During the same quarter last year, the business posted $0.19 EPS. The company’s revenue was up 41.6% on a year-over-year basis.
Incyte Corporation (NASDAQ:INCY) traded down 2.18% on Wednesday, hitting $110.78. 449,018 shares of the stock were exchanged. Incyte Corporation has a one year low of $83.01 and a one year high of $153.15. The stock’s market capitalization is $22.79 billion. The company has a 50 day moving average of $114.88 and a 200 day moving average of $124.14.
A number of equities analysts recently commented on INCY shares. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating and issued a $135.00 price objective on shares of Incyte Corporation in a research note on Thursday, August 31st. BMO Capital Markets decreased their price objective on shares of Incyte Corporation from $163.00 to $162.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. Barclays PLC reaffirmed an “overweight” rating and issued a $165.00 price objective (down previously from $180.00) on shares of Incyte Corporation in a research note on Wednesday, August 2nd. Royal Bank Of Canada started coverage on shares of Incyte Corporation in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $136.00 price objective for the company. Finally, Raymond James Financial, Inc. raised shares of Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 price objective for the company in a research note on Monday, September 11th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $144.98.
In other news, EVP Steven H. Stein sold 2,111 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $125.00, for a total value of $263,875.00. Following the transaction, the executive vice president now directly owns 18,687 shares of the company’s stock, valued at $2,335,875. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Trower sold 3,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $125.25, for a total transaction of $375,750.00. Following the completion of the transaction, the insider now directly owns 11,853 shares in the company, valued at $1,484,588.25. The disclosure for this sale can be found here. Insiders have sold 101,147 shares of company stock worth $12,615,101 over the last ninety days. Insiders own 17.70% of the company’s stock.
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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).
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