Q1 2024 EPS Estimates for Incyte Co. (NASDAQ:INCY) Increased by Analyst

Incyte Co. (NASDAQ:INCY) – Analysts at William Blair increased their Q1 2024 earnings per share estimates for Incyte in a research report issued on Wednesday, April 17th. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will post earnings per share of $0.68 for the quarter, up from their prior forecast of $0.50. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Incyte’s current full-year earnings is $3.85 per share. William Blair also issued estimates for Incyte’s FY2024 earnings at $3.69 EPS and FY2025 earnings at $4.75 EPS.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year.

A number of other analysts have also commented on INCY. Bank of America dropped their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Truist Financial dropped their price target on Incyte from $91.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Citigroup dropped their price target on Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. JMP Securities lowered Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Finally, Jefferies Financial Group initiated coverage on Incyte in a research report on Friday, February 23rd. They issued a “buy” rating and a $81.00 target price for the company. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Incyte currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.07.

Incyte Stock Down 0.9 %

INCY stock opened at $52.35 on Friday. The stock’s 50 day moving average is $57.46 and its 200-day moving average is $57.91. The firm has a market capitalization of $11.75 billion, a PE ratio of 19.75, a P/E/G ratio of 1.22 and a beta of 0.65. Incyte has a twelve month low of $50.27 and a twelve month high of $75.74. The company has a quick ratio of 3.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Incyte

Several hedge funds have recently added to or reduced their stakes in INCY. Cape Investment Advisory Inc. bought a new stake in shares of Incyte in the 4th quarter valued at about $25,000. Clear Street Markets LLC lifted its stake in shares of Incyte by 93.6% in the 1st quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 175 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Incyte by 4,220.0% in the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 422 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Incyte in the 1st quarter valued at about $28,000. Finally, Riverview Trust Co bought a new stake in shares of Incyte in the 1st quarter valued at about $29,000. Institutional investors own 96.97% of the company’s stock.

Incyte Company Profile

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.