Q1 2024 EPS Estimates for Incyte Co. Raised by William Blair (NASDAQ:INCY)

Incyte Co. (NASDAQ:INCY - Free Report) - William Blair raised their Q1 2024 earnings per share (EPS) estimates for Incyte in a research report issued to clients and investors on Wednesday, April 17th. William Blair analyst M. Phipps now expects that the biopharmaceutical company will post earnings per share of $0.68 for the quarter, up from their previous estimate of $0.50. William Blair currently has a "Outperform" rating on the stock. The consensus estimate for Incyte's current full-year earnings is $3.84 per share. William Blair also issued estimates for Incyte's FY2024 earnings at $3.69 EPS and FY2025 earnings at $4.75 EPS.

Other equities research analysts also recently issued reports about the company. Truist Financial decreased their target price on Incyte from $91.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, February 14th. BMO Capital Markets lifted their target price on Incyte from $58.00 to $64.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 14th. Stifel Nicolaus raised their price target on shares of Incyte from $67.00 to $68.00 and gave the stock a "hold" rating in a research note on Wednesday, February 14th. Jefferies Financial Group started coverage on shares of Incyte in a research note on Friday, February 23rd. They set a "buy" rating and a $81.00 price target for the company. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $65.00 price target on shares of Incyte in a research note on Monday, March 25th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $76.07.

Incyte Stock Performance

Shares of NASDAQ:INCY traded down $0.47 during midday trading on Friday, hitting $52.35. The company's stock had a trading volume of 2,181,059 shares, compared to its average volume of 1,716,559. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.22 and a beta of 0.65. The stock's 50 day simple moving average is $57.46 and its 200 day simple moving average is $57.92. Incyte has a fifty-two week low of $50.27 and a fifty-two week high of $75.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.09). The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1 billion. Incyte had a return on equity of 12.56% and a net margin of 16.17%. Incyte's revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 earnings per share.

Institutional Investors Weigh In On Incyte

A number of institutional investors and hedge funds have recently modified their holdings of INCY. D.A. Davidson & CO. grew its position in shares of Incyte by 4.8% during the 1st quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company's stock worth $262,000 after purchasing an additional 150 shares in the last quarter. Clear Street Markets LLC grew its position in shares of Incyte by 93.6% during the 1st quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 175 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of Incyte by 2.8% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,616 shares of the biopharmaceutical company's stock worth $441,000 after purchasing an additional 183 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Incyte by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company's stock worth $2,773,000 after purchasing an additional 187 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of Incyte by 1.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 16,684 shares of the biopharmaceutical company's stock worth $964,000 after purchasing an additional 195 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

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.