Incyte (INCY) Set to Announce Quarterly Earnings on Tuesday

Incyte (NASDAQ:INCY) will announce its earnings results before the market opens on Tuesday, July 30th. Analysts expect the company to announce earnings of $0.95 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The business had revenue of $880.89 million for the quarter, compared to analyst estimates of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. On average, analysts expect Incyte to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Incyte Stock Performance

NASDAQ:INCY opened at $68.61 on Monday. The company has a market cap of $15.41 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 1.44 and a beta of 0.73. The company has a quick ratio of 3.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. Incyte has a 52 week low of $50.27 and a 52 week high of $70.36. The company has a fifty day simple moving average of $61.03 and a two-hundred day simple moving average of $58.64.

Insider Buying and Selling

In other news, EVP Barry P. Flannelly sold 19,164 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the sale, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at $3,982,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of Incyte stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total value of $1,149,840.00. Following the transaction, the executive vice president now directly owns 66,377 shares in the company, valued at approximately $3,982,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the transaction, the insider now directly owns 21,634 shares in the company, valued at $1,274,458.94. The disclosure for this sale can be found here. Insiders sold a total of 29,711 shares of company stock worth $1,786,941 in the last 90 days. Company insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. TD Cowen reduced their price target on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. Truist Financial reaffirmed a “buy” rating and set a $83.00 price objective (down from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Finally, BMO Capital Markets reissued an “underperform” rating and issued a $48.00 target price (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.25.

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.