Incyte (INCY) to Release Quarterly Earnings on Tuesday

Incyte (NASDAQ:INCY) is expected to release its earnings data before the market opens on Tuesday, February 11th. Analysts expect Incyte to post earnings of $1.57 per share and revenue of $1.14 billion for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Incyte Stock Performance

Shares of INCY opened at $74.13 on Monday. Incyte has a one year low of $50.35 and a one year high of $83.95. The company has a market cap of $14.28 billion, a PE ratio of 529.54, a P/E/G ratio of 0.53 and a beta of 0.70. The stock has a 50-day moving average of $71.79 and a 200-day moving average of $69.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

Insiders Place Their Bets

In related news, insider Thomas Tray sold 650 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of the transaction, the insider now owns 23,962 shares of the company’s stock, valued at $1,692,675.68. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,695 shares of company stock worth $1,444,356. 17.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on INCY shares. JMP Securities restated a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. The Goldman Sachs Group boosted their target price on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Morgan Stanley upped their price objective on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Citigroup lifted their target price on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and a consensus price target of $75.71.

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.