Incyte (NASDAQ:INCY) Posts Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Incyte (NASDAQ:INCY - Get Free Report) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.19 by ($0.12), Briefing.com reports. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte's revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share.

Incyte Stock Performance

INCY stock traded up $2.01 during trading on Friday, hitting $76.13. The company had a trading volume of 2,260,926 shares, compared to its average volume of 2,335,050. Incyte has a 1-year low of $50.35 and a 1-year high of $76.33. The firm has a 50-day moving average price of $66.04 and a 200-day moving average price of $61.84. The company has a quick ratio of 1.84, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm has a market cap of $14.67 billion, a PE ratio of 543.82, a price-to-earnings-growth ratio of 6.57 and a beta of 0.73.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. William Blair restated an "outperform" rating on shares of Incyte in a report on Monday, September 9th. Morgan Stanley lifted their target price on Incyte from $64.00 to $69.00 and gave the company an "equal weight" rating in a research report on Wednesday. Oppenheimer increased their price target on Incyte from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday. StockNews.com upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a report on Thursday. Finally, Royal Bank of Canada increased their target price on shares of Incyte from $67.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $76.74.

Insider Activity

In other Incyte news, insider Thomas Tray sold 572 shares of the company's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now owns 36,390 shares in the company, valued at $2,269,280.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas Tray sold 572 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares of the company's stock, valued at $1,562,485.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.60% of the company's stock.

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.