Incyte Co. (NASDAQ:INCY) to Post Q4 2024 Earnings of $1.15 Per Share, William Blair Forecasts

Incyte Co. (NASDAQ:INCY) – Equities researchers at William Blair raised their Q4 2024 earnings per share (EPS) estimates for Incyte in a research report issued to clients and investors on Wednesday, July 31st. William Blair analyst M. Phipps now anticipates that the biopharmaceutical company will post earnings of $1.15 per share for the quarter, up from their prior forecast of $1.04. The consensus estimate for Incyte’s current full-year earnings is $3.35 per share.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $0.77 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 1st. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada upped their price target on Incyte from $61.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Citigroup lifted their price objective on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets reissued an “underperform” rating and set a $48.00 target price (down previously from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.24.

Incyte Price Performance

INCY opened at $61.27 on Monday. Incyte has a 1 year low of $50.27 and a 1 year high of $70.36. The company’s 50 day simple moving average is $61.98 and its 200 day simple moving average is $58.78. The stock has a market capitalization of $11.80 billion, a PE ratio of 18.57, a P/E/G ratio of 1.14 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 1.92.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 1,093 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the transaction, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Incyte news, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares in the company, valued at $1,274,458.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 8,148 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total transaction of $488,880.00. Following the completion of the transaction, the executive vice president now directly owns 50,534 shares in the company, valued at approximately $3,032,040. The disclosure for this sale can be found here. Insiders sold a total of 45,282 shares of company stock worth $2,876,911 in the last 90 days. 17.50% of the stock is owned by corporate insiders.

Institutional Trading of Incyte

Several hedge funds have recently bought and sold shares of INCY. Vanguard Group Inc. raised its holdings in shares of Incyte by 0.9% during the first quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock valued at $1,294,120,000 after buying an additional 196,440 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Incyte by 28.0% in the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after purchasing an additional 779,243 shares in the last quarter. LSV Asset Management lifted its stake in Incyte by 0.5% during the second quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock valued at $167,911,000 after purchasing an additional 15,115 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Incyte by 7.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,514,634 shares of the biopharmaceutical company’s stock worth $143,259,000 after buying an additional 177,852 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Incyte in the fourth quarter valued at $123,253,000. 96.97% of the stock is currently owned by institutional investors.

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.