Incyte (NASDAQ:INCY) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Incyte (NASDAQ:INCY - Get Free Report) announced its earnings results on Tuesday. The biopharmaceutical company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.01 by $0.15, Briefing.com reports. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm's revenue for the quarter was up 19.5% on a year-over-year basis.

Incyte Price Performance

NASDAQ:INCY traded up $0.50 during trading hours on Friday, hitting $62.53. 1,525,246 shares of the company's stock traded hands, compared to its average volume of 2,356,749. Incyte has a 52 week low of $52.73 and a 52 week high of $83.95. The business's fifty day simple moving average is $62.53 and its two-hundred day simple moving average is $68.85. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $12.10 billion, a P/E ratio of 231.60, a P/E/G ratio of 0.41 and a beta of 0.89.

Insider Buying and Selling at Incyte

In other news, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,809,101.52. This represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now owns 33,567 shares of the company's stock, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,475 shares of company stock valued at $2,424,751 in the last 90 days. Corporate insiders own 17.60% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on INCY. Truist Financial dropped their target price on shares of Incyte from $74.00 to $72.00 and set a "hold" rating on the stock in a research report on Tuesday, March 18th. Stifel Nicolaus upped their price objective on Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a research note on Monday, February 10th. Morgan Stanley decreased their target price on Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, March 24th. Guggenheim downgraded shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price target on the stock. in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Incyte currently has a consensus rating of "Hold" and a consensus price target of $73.53.

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.