William Blair Estimates Incyte’s Q4 Earnings (NASDAQ:INCY)

Incyte Co. (NASDAQ:INCY) – Equities researchers at William Blair cut their Q4 2024 earnings estimates for Incyte in a research note issued to investors on Tuesday, January 21st. William Blair analyst M. Phipps now expects that the biopharmaceutical company will post earnings of $1.07 per share for the quarter, down from their prior estimate of $1.09. William Blair has a “Outperform” rating on the stock. The consensus estimate for Incyte’s current full-year earnings is $0.40 per share.

Several other research firms have also recently weighed in on INCY. Royal Bank of Canada increased their price target on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. The Goldman Sachs Group lifted their price target on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. Finally, BMO Capital Markets restated an “underperform” rating and issued a $52.00 price target (up from $48.00) on shares of Incyte 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $76.29.

Incyte Price Performance

Shares of INCY opened at $73.47 on Wednesday. The firm has a market capitalization of $14.15 billion, a PE ratio of 524.82, a PEG ratio of 0.52 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The company’s 50-day moving average is $72.16 and its 200-day moving average is $68.16. Incyte has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

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

Institutional Trading of Incyte

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group bought a new stake in shares of Incyte in the 3rd quarter valued at about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Incyte during the 3rd quarter valued at approximately $33,000. Cromwell Holdings LLC raised its holdings in Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 283 shares during the last quarter. Groupama Asset Managment lifted its position in shares of Incyte by 11.4% in the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 6,105 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Incyte in the 3rd quarter valued at $45,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Incyte

In related news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the sale, the insider now directly owns 23,312 shares in the company, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,023 shares of company stock valued at $839,711 in the last quarter. 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.