Incyte (NASDAQ:INCY) Issues Quarterly Earnings Results, Misses Expectations By $0.48 EPS

Incyte (NASDAQ:INCY) released its quarterly earnings results on Monday. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48), Zacks reports. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%.

Incyte Price Performance

Incyte stock opened at $68.30 on Tuesday. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of 487.89, a PEG ratio of 0.53 and a beta of 0.70. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $71.79 and a 200 day simple moving average of $69.18. Incyte has a 52 week low of $50.35 and a 52 week high of $83.95.

Insider Buying and Selling at Incyte

In related news, insider Thomas Tray sold 650 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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 in the company, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. The trade was a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,695 shares of company stock valued at $1,444,356 in the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on INCY. JPMorgan Chase & Co. increased their target price on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their target price on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price target on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, January 14th. Finally, Citigroup upped their target price on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $75.71.

Incyte Company Profile

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.