Incyte Corporation (NASDAQ:INCY) – Stock analysts at Gabelli dropped their FY2017 earnings per share estimates for shares of Incyte Corporation in a research note issued on Wednesday. Gabelli analyst J. He now forecasts that the biopharmaceutical company will post earnings of ($1.40) per share for the year, down from their previous estimate of ($0.95). Gabelli also issued estimates for Incyte Corporation’s FY2018 earnings at $0.05 EPS, FY2019 earnings at $1.35 EPS and FY2020 earnings at $4.40 EPS.

Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.11. Incyte Corporation had a negative net margin of 10.90% and a negative return on equity of 12.91%. The business had revenue of $381.50 million for the quarter, compared to analyst estimates of $360.34 million. During the same quarter in the prior year, the business posted $0.19 EPS. Incyte Corporation’s revenue for the quarter was up 41.6% compared to the same quarter last year.

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Other analysts have also issued research reports about the stock. J P Morgan Chase & Co set a $149.00 price objective on shares of Incyte Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $148.00 price objective on shares of Incyte Corporation in a research note on Thursday, July 27th. BMO Capital Markets reiterated a “buy” rating and issued a $172.00 price objective on shares of Incyte Corporation in a research note on Friday, July 21st. Credit Suisse Group set a $152.00 price objective on shares of Incyte Corporation and gave the stock a “buy” rating in a research note on Sunday, July 16th. Finally, Argus reiterated a “buy” rating and issued a $150.00 price objective on shares of Incyte Corporation in a research note on Wednesday, September 13th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $144.98.

Incyte Corporation (NASDAQ INCY) opened at $105.08 on Monday. Incyte Corporation has a 52 week low of $83.01 and a 52 week high of $153.15. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01.

In other Incyte Corporation news, EVP Steven H. Stein sold 2,111 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $125.00, for a total transaction of $263,875.00. Following the transaction, the executive vice president now directly owns 18,687 shares of the company’s stock, valued at $2,335,875. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Herve Hoppenot sold 70,502 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $119.45, for a total transaction of $8,421,463.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,062 shares of company stock worth $12,652,893. Insiders own 17.70% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Wetherby Asset Management Inc. lifted its stake in shares of Incyte Corporation by 1.4% in the second quarter. Wetherby Asset Management Inc. now owns 1,672 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 23 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Incyte Corporation by 0.8% in the second quarter. Nordea Investment Management AB now owns 8,179 shares of the biopharmaceutical company’s stock worth $1,030,000 after buying an additional 67 shares in the last quarter. Grandfield & Dodd LLC lifted its stake in shares of Incyte Corporation by 1.2% in the second quarter. Grandfield & Dodd LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $930,000 after buying an additional 85 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Incyte Corporation by 9.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 103 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Incyte Corporation by 13.8% in the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 108 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Corporation Company Profile

Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).

Earnings History and Estimates for Incyte Corporation (NASDAQ:INCY)

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