Incyte (NASDAQ:INCY) Announces Quarterly Earnings Results

Incyte (NASDAQ:INCY) released its quarterly earnings results on Monday. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate 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 %

Shares of NASDAQ:INCY opened at $74.13 on Monday. The firm has a market cap of $14.28 billion, a P/E ratio of 529.54, a PEG ratio of 0.53 and a beta of 0.70. Incyte has a 52-week low of $50.35 and a 52-week high of $83.95. The business’s 50 day simple moving average is $71.79 and its two-hundred day simple moving average is $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.

Insider Transactions at Incyte

In other Incyte news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,695 shares of company stock valued at $1,444,356 over the last ninety days. 17.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INCY. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of Incyte in a research report on Thursday, January 23rd. Morgan Stanley boosted 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. UBS Group began coverage on Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price for the company. Citigroup lifted their target price on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Incyte presently has an average 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.