Incyte (NASDAQ:INCY) Announces Quarterly Earnings Results

Incyte (NASDAQ:INCY) posted its quarterly earnings data on Tuesday. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12), Briefing.com reports. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year.

Incyte Trading Up 2.2 %

INCY stock traded up $1.64 during midday trading on Friday, reaching $75.76. The company’s stock had a trading volume of 1,010,965 shares, compared to its average volume of 2,328,807. The business’s 50-day simple moving average is $65.80 and its 200-day simple moving average is $61.68. The company has a quick ratio of 1.84, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte has a 52 week low of $50.35 and a 52 week high of $76.33. The stock has a market cap of $14.60 billion, a PE ratio of 533.11, a price-to-earnings-growth ratio of 6.57 and a beta of 0.73.

Insider Buying and Selling at Incyte

In other news, insider Thomas Tray sold 572 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

INCY has been the subject of several recent research reports. Truist Financial reaffirmed a “hold” rating and issued a $74.00 price target (down previously from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Royal Bank of Canada raised their target price on Incyte from $67.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Wednesday. William Blair reissued an “outperform” rating on shares of Incyte in a report on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and lifted their target price for the company from $68.00 to $90.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $76.74.

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.