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

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

Incyte Stock Down 1.1 %

NASDAQ INCY opened at $74.13 on Monday. The business has a fifty day moving average price of $71.79 and a 200 day moving average price of $69.16. 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 company 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. Incyte has a one year low of $50.35 and a one year high of $83.95.

Analysts Set New Price Targets

Several equities research analysts have weighed in on INCY shares. Citigroup increased their price target on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Wells Fargo & Company boosted their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Morgan Stanley raised their price objective on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their target price 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and an average price target of $75.71.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 650 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the sale, the insider now owns 23,962 shares in the company, valued at approximately $1,692,675.68. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,695 shares of company stock valued at $1,444,356 in the last 90 days. 17.60% of the stock is owned by insiders.

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.