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

Incyte Co. (NASDAQ:INCY) – Investment analysts at William Blair increased their Q1 2024 earnings estimates for shares of Incyte in a note issued to investors on Wednesday, April 17th. William Blair analyst M. Phipps now forecasts 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.

Incyte (NASDAQ:INCY) last released its earnings results 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Incyte had a return on equity of 12.56% and a net margin of 16.17%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS.

A number of other equities analysts have also recently weighed in on the stock. JMP Securities cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Stifel Nicolaus increased their target price on shares of Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. Jefferies Financial Group began coverage on Incyte in a research note on Friday, February 23rd. They set a “buy” rating and a $81.00 price target on the stock. Truist Financial dropped their price objective on Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Finally, BMO Capital Markets lifted their price objective on Incyte from $58.00 to $64.00 and gave the stock a “market perform” rating in a report on Wednesday, February 14th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.07.

Incyte Trading Down 0.9 %

Shares of INCY stock opened at $52.35 on Friday. The business’s fifty day moving average price is $57.46 and its 200 day moving average price is $57.92. The firm has a market capitalization of $11.75 billion, a PE ratio of 19.75, a P/E/G ratio of 1.22 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36. Incyte has a 1-year low of $50.27 and a 1-year high of $75.74.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in INCY. D.A. Davidson & CO. grew its stake in shares of Incyte by 4.8% in the first quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 150 shares in the last quarter. Clear Street Markets LLC raised its stake in shares of Incyte by 93.6% during the first quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 175 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Incyte by 2.8% during the third 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 lifted its position in shares of Incyte by 0.4% during the fourth 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. boosted its stake in shares of Incyte by 1.2% in the third quarter. Vontobel Holding Ltd. now owns 16,684 shares of the biopharmaceutical company’s stock valued at $964,000 after purchasing an additional 195 shares during the period. 96.97% of the stock is owned by hedge funds and other 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.