William Blair Has Negative Outlook for Incyte Q4 Earnings

Incyte Co. (NASDAQ:INCY) – Stock analysts at William Blair lowered their Q4 2024 earnings estimates for shares of Incyte in a report issued on Tuesday, January 21st. William Blair analyst M. Phipps now anticipates that the biopharmaceutical company will post earnings of $1.07 per share for the quarter, down from their previous forecast of $1.09. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Incyte’s current full-year earnings is $0.40 per share.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS.

A number of other equities analysts have also recently issued reports on INCY. UBS Group started coverage on Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price on the stock. Wells Fargo & Company lifted their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and upped their target price for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Finally, Morgan Stanley increased their price objective on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $76.29.

Incyte Stock Up 2.1 %

INCY stock opened at $73.47 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The stock’s 50 day simple moving average is $72.16 and its 200 day simple moving average is $68.16. The company has a market cap of $14.15 billion, a P/E ratio of 524.82, a price-to-earnings-growth ratio of 0.52 and a beta of 0.71.

Institutional Trading of Incyte

A number of institutional investors have recently modified their holdings of INCY. Dimensional Fund Advisors LP lifted its position in shares of Incyte by 24.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,181,269 shares of the biopharmaceutical company’s stock worth $71,617,000 after acquiring an additional 230,665 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Incyte by 413.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 29,494 shares of the biopharmaceutical company’s stock worth $1,788,000 after purchasing an additional 23,747 shares in the last quarter. Gabelli Funds LLC boosted its stake in Incyte by 7.3% in the 2nd quarter. Gabelli Funds LLC now owns 15,237 shares of the biopharmaceutical company’s stock worth $924,000 after purchasing an additional 1,037 shares during the period. DRW Securities LLC bought a new position in Incyte in the 2nd quarter worth about $266,000. Finally, Public Sector Pension Investment Board grew its holdings in Incyte by 71.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 6,322 shares of the biopharmaceutical company’s stock valued at $383,000 after buying an additional 2,636 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at $4,624,786.56. This represents a 5.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Tray sold 650 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $70.64, for a total value of $45,916.00. Following the transaction, the insider now owns 23,962 shares of the company’s stock, valued at $1,692,675.68. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,023 shares of company stock worth $839,711 over the last three months. 17.60% of the stock is currently owned by insiders.

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.