Analysts’ Estimates and Recommendations for Incyte in July

Wall Street analysts’ estimates

Analysts expect Incyte Corporation (INCY) to report 45.2% growth in YoY (year-over-year) sales to $473.9 million during the second quarter, compared to $326.4 million during the second quarter of 2017. Incyte is expected to report net adjusted income of $56.1 million during the second quarter, compared to a net adjusted loss of $12.5 million during the second quarter of 2017.

Incyte’s earnings per share are expected to reach $0.24 for the second quarter. The growth in revenues during the second quarter is expected to be driven by strong sales of Jakafi. The chart below compares changes in analysts’ recommendations for Incyte stock over the last 12 months.

Analysts’ Estimates and Recommendations for Incyte in July

Analysts’ recommendations

Incyte’s (INCY) stock price has fallen ~46.0% over the last 12 months, and it has fallen ~26.8% year-to-date. Analysts expect INCY stock to rise ~20.8% over the next 12 months. These analysts’ recommendations show a 12-month target price of $83.71 per share compared to its June 5 price of $69.29 per share.

On June 6, 18 analysts tracked Incyte stock. Two of these analysts recommended a “strong buy,” 12 analysts recommended a “buy,” and four analysts recommended a “hold.” There were no “sell” recommendations for INCY stock.

The consensus rating for Incyte Corporation stands at 2.11, which represents a “buy” for momentum investors and long-term investors. The changes in analysts’ recommendations and estimates for target price are based on changing stock price trends, as well as developments and changes in the company’s performance.

The SPDR S&P Biotech ETF (XBI) holds 1.3% of its total portfolio in Incyte (INCY), 1.3% in Amgen (AMGN), 1.4% in Sage Therapeutics (SAGE), and 1.3% in BioMarin (BMRN).