Q2 2024 EPS Estimates for Incyte Co. (NASDAQ:INCY) Cut by Analyst

Incyte Co. (NASDAQ:INCY) – Research analysts at William Blair decreased their Q2 2024 earnings estimates for Incyte in a research note issued on Tuesday, April 30th. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will earn $0.83 per share for the quarter, down from their previous forecast of $0.98. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Incyte’s current full-year earnings is $3.81 per share. William Blair also issued estimates for Incyte’s Q3 2024 earnings at $0.90 EPS, Q4 2024 earnings at $0.90 EPS, Q2 2025 earnings at $1.06 EPS and Q4 2025 earnings at $1.19 EPS.

INCY has been the topic of several other research reports. TD Cowen reduced their price objective on shares of Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday. BMO Capital Markets cut their price target on shares of Incyte from $56.00 to $52.00 and set a “market perform” rating on the stock in a research note on Wednesday. Oppenheimer cut their price target on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Stifel Nicolaus increased their price target on shares of Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $65.00 price target on shares of Incyte in a research note on Monday, March 25th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Incyte currently has a consensus rating of “Moderate Buy” and an average price target of $74.93.

Incyte Stock Performance

Shares of INCY opened at $53.76 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.47. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.24 and a beta of 0.69. The company’s 50 day simple moving average is $56.23 and its 200 day simple moving average is $57.58. Incyte has a 1 year low of $50.27 and a 1 year high of $67.72.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data 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 firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Incyte had a net margin of 19.78% and a return on equity of 12.83%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS.

Institutional Investors Weigh In On Incyte

Large investors have recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. acquired a new stake in Incyte during the 4th quarter valued at $25,000. Larson Financial Group LLC grew its holdings in Incyte by 4,220.0% during the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 422 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Incyte during the 1st quarter worth $28,000. Riverview Trust Co acquired a new position in Incyte during the 1st quarter worth $29,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Incyte during the 4th quarter worth $31,000. 96.97% of the stock is owned by institutional investors and hedge funds.

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.