Incyte (NASDAQ:INCY) Issues Quarterly Earnings Results, Misses Estimates By $0.48 EPS

Incyte (NASDAQ:INCY) posted its earnings results on Monday. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48), Zacks reports. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%.

Incyte Trading Down 1.1 %

NASDAQ:INCY opened at $74.13 on Monday. Incyte has a 1 year low of $50.35 and a 1 year high of $83.95. The stock has a market cap of $14.28 billion, a P/E ratio of 529.54, a P/E/G ratio of 0.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The stock has a 50-day simple moving average of $71.79 and a 200-day simple moving average of $69.16.

Analysts Set New Price Targets

Several analysts recently issued reports on INCY shares. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. The Goldman Sachs Group boosted their price target on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, UBS Group assumed coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Incyte currently has an average rating of “Hold” and a consensus price target of $75.71.

Insider Transactions at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Tray sold 650 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the sale, the insider now owns 23,312 shares of the company’s stock, valued at $1,615,754.72. This represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,695 shares of company stock valued at $1,444,356. Corporate insiders own 17.60% of the company’s stock.

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.