Equities Analysts Offer Predictions for Incyte Q4 Earnings

Incyte Co. (NASDAQ:INCY) – Analysts at William Blair reduced their Q4 2024 earnings estimates for shares of Incyte in a research note issued to investors on Tuesday, January 21st. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will post earnings per share of $1.07 for the quarter, down from their previous estimate of $1.09. William Blair has a “Outperform” rating on the stock. The consensus estimate for Incyte’s current full-year earnings is $0.40 per share.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. Morgan Stanley raised their price target on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Finally, Wells Fargo & Company increased their price target on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus price target of $75.71.

Incyte Trading Up 0.2 %

Shares of INCY opened at $72.53 on Wednesday. The business’s 50-day moving average price is $71.86 and its 200-day moving average price is $68.30. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte has a twelve month low of $50.35 and a twelve month high of $83.95. The stock has a market cap of $13.97 billion, a PE ratio of 518.11, a P/E/G ratio of 0.53 and a beta of 0.71.

Institutional Trading of Incyte

Institutional investors and hedge funds have recently bought and sold shares of the company. CWA Asset Management Group LLC bought a new position in Incyte in the 4th quarter valued at approximately $1,933,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Incyte during the third quarter valued at $770,000. Greenwood Capital Associates LLC bought a new stake in Incyte in the 3rd quarter worth about $433,000. Tri Ri Asset Management Corp purchased a new position in Incyte in the 3rd quarter worth about $3,292,000. Finally, Cypress Capital Group bought a new position in Incyte during the 3rd quarter valued at about $971,000. 96.97% of the stock is currently owned by institutional investors.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the transaction, the insider now directly owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. This represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,375 shares of company stock valued at $1,737,578. Corporate insiders own 17.60% of the company’s stock.

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.