Incyte (NASDAQ:INCY) Posts Earnings Results, Misses Expectations By $0.48 EPS

Incyte (NASDAQ:INCY) released its quarterly earnings data on Monday. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate 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 Price Performance

Shares of NASDAQ INCY opened at $74.13 on Monday. The business has a fifty day moving average price of $71.79 and a two-hundred day moving average price of $69.16. The stock has a market capitalization of $14.28 billion, a PE 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 current ratio of 1.87 and a quick ratio of 1.82. Incyte has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

Insider Transactions at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas Tray sold 650 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,695 shares of company stock valued at $1,444,356. 17.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

INCY has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of Incyte in a research note on Thursday, January 23rd. BMO Capital Markets reissued an “underperform” rating and set a $52.00 price target (up previously from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Incyte currently has an average rating of “Hold” and an average price target of $75.71.

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.