Incyte (NASDAQ:INCY) Issues Quarterly Earnings Results

Incyte (NASDAQ:INCY) announced its quarterly earnings data on Monday. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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

INCY opened at $66.33 on Wednesday. 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 fifty day moving average of $71.69 and a 200 day moving average of $69.18. Incyte has a 52-week low of $50.35 and a 52-week high of $83.95. The stock has a market cap of $12.78 billion, a P/E ratio of 473.82, a PEG ratio of 0.53 and a beta of 0.70.

Insider Transactions at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the sale, the insider now owns 23,962 shares of the company’s stock, valued at $1,692,675.68. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,695 shares of company stock worth $1,444,356. 17.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

INCY has been the subject of a number of research reports. William Blair restated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Wells Fargo & Company increased their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. Oppenheimer increased their price target on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus lifted their price objective on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Incyte presently has an average rating of “Hold” and a consensus price target of $75.59.

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.