Q2 2018 EPS Estimates for Incyte Co. (INCY) Increased by Analyst
Incyte Co. (NASDAQ:INCY) – SunTrust Banks boosted their Q2 2018 EPS estimates for shares of Incyte in a report issued on Thursday. SunTrust Banks analyst P. Lawson now anticipates that the biopharmaceutical company will post earnings per share of $0.05 for the quarter, up from their previous forecast of $0.04. SunTrust Banks also issued estimates for Incyte’s FY2020 earnings at $3.56 EPS, FY2021 earnings at $5.72 EPS and FY2022 earnings at $7.88 EPS.
A number of other equities analysts have also recently issued reports on INCY. BidaskClub raised Incyte from a “strong sell” rating to a “sell” rating in a report on Friday. Oppenheimer reaffirmed a “hold” rating and issued a $110.00 target price (down previously from $120.00) on shares of Incyte in a report on Monday, January 22nd. BMO Capital Markets reaffirmed a “buy” rating and issued a $172.00 target price on shares of Incyte in a report on Wednesday, January 3rd. Goldman Sachs Group began coverage on Incyte in a research report on Friday, October 6th. They issued a “buy” rating and a $160.00 price target on the stock. Finally, Jefferies Group reiterated a “buy” rating on shares of Incyte in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $143.25.
Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The business had revenue of $381.50 million during the quarter, compared to analysts’ expectations of $360.34 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year.
Large investors have recently made changes to their positions in the business. Inverness Counsel LLC NY bought a new position in Incyte in the third quarter worth approximately $330,000. LMR Partners LLP bought a new position in Incyte in the third quarter worth approximately $394,000. Swiss National Bank boosted its holdings in Incyte by 3.0% in the third quarter. Swiss National Bank now owns 641,700 shares of the biopharmaceutical company’s stock worth $74,912,000 after acquiring an additional 18,700 shares in the last quarter. Matrix Capital Management Company LP boosted its holdings in Incyte by 28.3% in the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after acquiring an additional 396,716 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Incyte by 0.6% in the third quarter. Prudential Financial Inc. now owns 236,699 shares of the biopharmaceutical company’s stock worth $27,633,000 after acquiring an additional 1,490 shares in the last quarter. Institutional investors and hedge funds own 90.75% of the company’s stock.
In related news, insider David W. Gryska sold 3,915 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $105.63, for a total transaction of $413,541.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul A. Friedman sold 28,507 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $105.24, for a total value of $3,000,076.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,878 shares of company stock worth $4,636,494. 17.70% of the stock is owned by corporate insiders.
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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).
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