FY2024 Earnings Estimate for Incyte Issued By William Blair

Incyte Co. (NASDAQ:INCY) – Equities researchers at William Blair cut their FY2024 EPS estimates for shares of Incyte in a research note issued to investors on Tuesday, January 21st. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will earn $0.30 per share for the year, down from their previous forecast of $0.31. 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. William Blair also issued estimates for Incyte’s FY2025 earnings at $4.17 EPS.

Several other research analysts also recently commented on INCY. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. The Goldman Sachs Group increased their target price on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wolfe Research initiated coverage on shares of Incyte in a report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 price target on the stock. BMO Capital Markets reissued an “underperform” rating and issued a $52.00 price objective (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $76.29.

Incyte Price Performance

Shares of Incyte stock opened at $72.41 on Thursday. The stock’s fifty day moving average is $72.02 and its 200 day moving average is $68.27. Incyte has a one year low of $50.35 and a one year high of $83.95. 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 market cap of $13.95 billion, a P/E ratio of 517.25, a P/E/G ratio of 0.53 and a beta of 0.71.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results 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 business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS.

Hedge Funds Weigh In On Incyte

A number of large investors have recently bought and sold shares of INCY. Haverford Trust Co lifted its position in shares of Incyte by 1.8% during the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after purchasing an additional 135 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Incyte by 4.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 155 shares in the last quarter. Tectonic Advisors LLC boosted its position in Incyte by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock valued at $819,000 after buying an additional 190 shares during the period. 180 Wealth Advisors LLC grew its stake in Incyte by 3.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock worth $361,000 after acquiring an additional 195 shares in the last quarter. Finally, Burney Co. increased its position in shares of Incyte by 7.3% during the fourth quarter. Burney Co. now owns 3,262 shares of the biopharmaceutical company’s stock worth $225,000 after acquiring an additional 223 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were 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 in the company, valued at $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,375 shares of company stock worth $1,737,578. Insiders own 17.60% 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.