Incyte (NASDAQ:INCY) Announces Quarterly Earnings Results

by · The Markets Daily

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

Incyte Stock Performance

Shares of Incyte stock traded up $1.91 on Friday, reaching $76.03. 1,093,090 shares of the company traded hands, compared to its average volume of 2,329,541. The company has a 50 day moving average of $65.80 and a 200 day moving average of $61.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.84. Incyte has a 52 week low of $50.35 and a 52 week high of $76.33. The firm has a market capitalization of $14.65 billion, a PE ratio of 533.11, a PEG ratio of 6.57 and a beta of 0.73.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on INCY shares. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft upped their target price on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Truist Financial reiterated a “hold” rating and issued a $74.00 target price (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Royal Bank of Canada increased their price target on Incyte from $67.00 to $72.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.74.

Read Our Latest Analysis on Incyte

Insider Buying and Selling

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

Incyte Company Profile

(Get Free Report)

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.

Recommended Stories