Analysts expect that Incyte Co. (NASDAQ:INCY) will post $494.73 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Incyte’s earnings, with the highest sales estimate coming in at $502.39 million and the lowest estimate coming in at $481.98 million. Incyte reported sales of $521.52 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.1%. The business is scheduled to issue its next earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that Incyte will report full year sales of $2.06 billion for the current year, with estimates ranging from $2.01 billion to $2.15 billion. For the next year, analysts anticipate that the business will report sales of $2.40 billion, with estimates ranging from $2.26 billion to $2.60 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Incyte.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.29. The company had revenue of $497.86 million for the quarter, compared to analysts’ expectations of $488.00 million. Incyte had a return on equity of 13.28% and a net margin of 12.66%. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) earnings per share.

Several analysts have recently weighed in on the company. BidaskClub upgraded Incyte from a “sell” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group started coverage on Incyte in a research note on Monday. They issued a “neutral” rating and a $75.00 price objective on the stock. Piper Jaffray Companies lifted their price objective on Incyte from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Incyte in a research note on Wednesday, May 15th. Finally, Barclays lowered Incyte from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $90.00 to $82.00 in a research note on Friday, May 3rd. Thirteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Incyte presently has a consensus rating of “Buy” and a consensus price target of $91.07.

In related news, EVP Paula J. Swain sold 10,000 shares of Incyte stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $87.01, for a total value of $870,100.00. Following the transaction, the executive vice president now directly owns 38,295 shares of the company’s stock, valued at $3,332,047.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.10% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY lifted its stake in Incyte by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 34,590 shares of the biopharmaceutical company’s stock valued at $2,200,000 after buying an additional 120 shares during the period. Thrivent Financial for Lutherans lifted its stake in Incyte by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,688 shares of the biopharmaceutical company’s stock valued at $489,000 after buying an additional 135 shares during the period. ETF Managers Group LLC lifted its stake in Incyte by 9.8% in the first quarter. ETF Managers Group LLC now owns 1,717 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 153 shares during the period. Grandfield & Dodd LLC lifted its stake in Incyte by 2.1% in the fourth quarter. Grandfield & Dodd LLC now owns 8,137 shares of the biopharmaceutical company’s stock valued at $517,000 after buying an additional 169 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Incyte by 2.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 7,747 shares of the biopharmaceutical company’s stock valued at $493,000 after buying an additional 180 shares during the period. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:INCY traded up $1.48 during midday trading on Thursday, hitting $80.50. 1,097,946 shares of the stock were exchanged, compared to its average volume of 1,438,270. The stock has a market cap of $17.26 billion, a P/E ratio of 98.17 and a beta of 1.31. The company has a current ratio of 5.22, a quick ratio of 5.21 and a debt-to-equity ratio of 0.01. Incyte has a 12 month low of $57.00 and a 12 month high of $88.83.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Earnings History and Estimates for Incyte (NASDAQ:INCY)

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