Incyte (INCY) Projected to Post Quarterly Earnings on Tuesday

Incyte (NASDAQ:INCY) is expected to be posting its quarterly earnings results before the market opens on Tuesday, February 11th. Analysts expect Incyte to post earnings of $1.57 per share and revenue of $1.14 billion for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $73.74 on Tuesday. The firm’s 50 day simple moving average is $71.83 and its two-hundred day simple moving average is $68.87. 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 has a market capitalization of $14.21 billion, a P/E ratio of 526.75, a P/E/G ratio of 0.54 and a beta of 0.71. Incyte has a 1-year low of $50.35 and a 1-year high of $83.95.

Insider Activity

In other news, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,375 shares of company stock valued at $1,737,578 in the last ninety days. Insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup upped their target price on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, January 14th. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their price target on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, UBS Group initiated coverage on shares of Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.