William Blair Weighs in on Incyte Co.’s Q3 2022 Earnings (NASDAQ:INCY)

Incyte Co. (NASDAQ:INCYGet Rating) – Investment analysts at William Blair lifted their Q3 2022 earnings per share (EPS) estimates for Incyte in a research report issued on Tuesday, August 2nd. William Blair analyst M. Phipps now anticipates that the biopharmaceutical company will post earnings per share of $0.46 for the quarter, up from their prior forecast of $0.45. The consensus estimate for Incyte’s current full-year earnings is $2.31 per share.

A number of other analysts have also commented on INCY. Morgan Stanley decreased their price objective on Incyte from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating in a research note on Wednesday. Wells Fargo & Company assumed coverage on Incyte in a research note on Thursday, July 28th. They issued an “equal weight” rating and a $76.00 price target on the stock. SVB Leerink raised their price target on Incyte from $58.00 to $63.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 20th. Finally, Evercore ISI lowered Incyte from an “outperform” rating to an “inline” rating and decreased their price target for the stock from $90.00 to $78.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $84.92.

Incyte Stock Up 0.3 %

INCY opened at $72.16 on Friday. The company has a quick ratio of 3.67, a current ratio of 3.91 and a debt-to-equity ratio of 0.01. The firm has a market cap of $15.98 billion, a P/E ratio of 16.98, a PEG ratio of 0.87 and a beta of 0.64. Incyte has a 52 week low of $61.91 and a 52 week high of $84.86. The business’s fifty day simple moving average is $76.16 and its 200 day simple moving average is $75.21.

Incyte (NASDAQ:INCYGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22. The business had revenue of $911.40 million for the quarter, compared to analyst estimates of $818.25 million. Incyte had a return on equity of 13.02% and a net margin of 28.46%. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share.

Institutional Investors Weigh In On Incyte

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Incyte by 117.4% during the 1st quarter. Royal Bank of Canada now owns 7,682,752 shares of the biopharmaceutical company’s stock worth $610,164,000 after purchasing an additional 4,148,559 shares during the last quarter. UBS Group AG increased its holdings in Incyte by 204.8% during the 1st quarter. UBS Group AG now owns 2,936,589 shares of the biopharmaceutical company’s stock worth $233,224,000 after purchasing an additional 1,973,236 shares during the last quarter. BlackRock Inc. increased its holdings in Incyte by 5.3% during the 4th quarter. BlackRock Inc. now owns 18,336,658 shares of the biopharmaceutical company’s stock worth $1,345,912,000 after purchasing an additional 924,880 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Incyte by 3,061.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 795,912 shares of the biopharmaceutical company’s stock worth $58,420,000 after purchasing an additional 770,736 shares during the last quarter. Finally, Polar Capital Holdings Plc increased its holdings in Incyte by 100.3% during the 1st quarter. Polar Capital Holdings Plc now owns 1,012,386 shares of the biopharmaceutical company’s stock worth $80,404,000 after purchasing an additional 507,000 shares during the last quarter. 92.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Incyte

In other news, insider Thomas Tray sold 1,564 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $83.13, for a total value of $130,015.32. Following the transaction, the insider now directly owns 17,702 shares in the company, valued at approximately $1,471,567.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Vijay K. Iyengar sold 5,787 shares of the firm’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $79.38, for a total transaction of $459,372.06. Following the sale, the executive vice president now directly owns 40,313 shares in the company, valued at approximately $3,200,045.94. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Thomas Tray sold 1,564 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $83.13, for a total value of $130,015.32. Following the sale, the insider now owns 17,702 shares in the company, valued at $1,471,567.26. The disclosure for this sale can be found here. Company insiders own 15.80% of the company’s stock.

About Incyte

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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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Earnings History and Estimates for Incyte (NASDAQ:INCY)

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