Incyte Co. (NASDAQ:INCY) Expected to Post Quarterly Sales of $816.54 Million

Wall Street brokerages expect that Incyte Co. (NASDAQ:INCYGet Rating) will report sales of $816.54 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Incyte’s earnings, with the lowest sales estimate coming in at $791.89 million and the highest estimate coming in at $863.74 million. Incyte reported sales of $705.71 million in the same quarter last year, which indicates a positive year over year growth rate of 15.7%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Incyte will report full year sales of $3.40 billion for the current year, with estimates ranging from $3.25 billion to $3.61 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.97 billion, with estimates ranging from $3.74 billion to $4.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Incyte.

Incyte (NASDAQ:INCYGet Rating) last announced its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. Incyte had a net margin of 29.95% and a return on equity of 12.77%. The business had revenue of $733.20 million for the quarter, compared to analyst estimates of $753.54 million. During the same period last year, the firm posted $0.50 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year.

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their target price on Incyte from $75.00 to $77.00 in a report on Tuesday, May 3rd. downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 14th. SVB Leerink downgraded Incyte from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $60.00 to $56.00 in a research note on Wednesday, February 9th. Morgan Stanley lifted their price target on Incyte from $73.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 20th. Finally, Zacks Investment Research raised Incyte from a “sell” rating to a “hold” rating and set a $85.00 price target for the company in a research note on Tuesday, April 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to, the company currently has a consensus rating of “Buy” and an average price target of $86.92.

In related news, Director Bros. Advisors Lp Baker purchased 100,000 shares of Incyte stock in a transaction that occurred on Tuesday, March 8th. The shares were purchased at an average cost of $70.67 per share, with a total value of $7,067,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Barry P. Flannelly sold 43,993 shares of the company’s stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $83.49, for a total value of $3,672,975.57. Following the completion of the transaction, the executive vice president now directly owns 65,163 shares in the company, valued at $5,440,458.87. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust grew its stake in Incyte by 91.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 213 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Incyte during the 3rd quarter worth $33,000. AlphaMark Advisors LLC bought a new position in Incyte during the 4th quarter worth $35,000. Glassman Wealth Services grew its stake in Incyte by 52.1% during the 4th quarter. Glassman Wealth Services now owns 502 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 172 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. bought a new position in shares of Incyte in the fourth quarter worth $43,000. Institutional investors and hedge funds own 92.78% of the company’s stock.

Incyte stock opened at $76.51 on Thursday. Incyte has a one year low of $61.91 and a one year high of $88.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 3.71. The business has a fifty day moving average of $77.60 and a two-hundred day moving average of $72.85. The company has a market cap of $16.95 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 0.89 and a beta of 0.71.

About Incyte (Get Rating)

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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