William Blair Brokers Lower Earnings Estimates for Incyte

Incyte Co. (NASDAQ:INCY) – Research analysts at William Blair reduced their Q4 2024 earnings per share estimates for Incyte in a report issued on Tuesday, January 21st. William Blair analyst M. Phipps now expects that the biopharmaceutical company will earn $1.07 per share for the quarter, down from their prior forecast 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.

Other research analysts have also issued research reports about the company. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. Royal Bank of Canada boosted their price objective on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, November 14th. JMP Securities restated a “market perform” rating on shares of Incyte in a research note on Tuesday, January 14th. The Goldman Sachs Group boosted their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research assumed coverage on shares of Incyte in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.29.

Incyte Stock Performance

Shares of Incyte stock opened at $72.41 on Wednesday. The stock has a market capitalization of $13.95 billion, a price-to-earnings ratio of 517.25, a PEG ratio of 0.52 and a beta of 0.71. The firm’s fifty day simple moving average is $72.02 and its 200-day simple moving average is $68.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. Incyte has a 12 month low of $50.35 and a 12 month high of $83.95.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Haverford Trust Co grew its position in shares of Incyte by 1.8% in the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after purchasing an additional 135 shares during the period. V Square Quantitative Management LLC boosted its stake in Incyte by 4.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 155 shares during the last quarter. Tectonic Advisors LLC grew its holdings in Incyte by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock valued at $819,000 after buying an additional 190 shares during the period. 180 Wealth Advisors LLC increased its stake in shares of Incyte by 3.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after acquiring an additional 195 shares during the last quarter. Finally, Burney Co. lifted its holdings in shares of Incyte by 7.3% during the 4th quarter. Burney Co. now owns 3,262 shares of the biopharmaceutical company’s stock worth $225,000 after acquiring an additional 223 shares during the period. 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 the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $70.64, for a total value of $45,916.00. Following the sale, the insider now owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of 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 trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,375 shares of company stock valued at $1,737,578. 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.