William Blair Issues Optimistic Forecast for Incyte Earnings

Incyte Co. (NASDAQ:INCY) – William Blair increased their FY2025 earnings per share estimates for Incyte in a report released on Tuesday, March 18th. William Blair analyst M. Phipps now anticipates that the biopharmaceutical company will post earnings per share of $4.21 for the year, up from their prior estimate of $4.20. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Incyte’s current full-year earnings is $4.86 per share.

A number of other equities research analysts have also weighed in on INCY. Citigroup lowered their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Truist Financial lowered their price objective on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research note on Tuesday. Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research note on Tuesday. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Finally, StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.13.

Incyte Price Performance

Shares of NASDAQ INCY opened at $60.58 on Wednesday. Incyte has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The business has a 50 day moving average price of $70.78 and a two-hundred day moving average price of $70.13. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $11.72 billion, a PE ratio of 224.38, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%.

Institutional Trading of Incyte

Several hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its stake in Incyte by 0.8% during the 4th quarter. California State Teachers Retirement System now owns 241,033 shares of the biopharmaceutical company’s stock valued at $16,648,000 after acquiring an additional 1,833 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Incyte by 315.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,884 shares of the biopharmaceutical company’s stock valued at $3,307,000 after acquiring an additional 36,351 shares in the last quarter. NorthCrest Asset Manangement LLC raised its stake in Incyte by 22.6% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 7,982 shares of the biopharmaceutical company’s stock valued at $551,000 after acquiring an additional 1,470 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in Incyte during the 4th quarter valued at $3,919,000. Finally, Siemens Fonds Invest GmbH bought a new stake in Incyte during the 4th quarter valued at $401,000. Institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling

In related news, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,827 shares of company stock valued at $3,322,618. 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.