Biopharmaceutical company Incyte Corporation (NASDAQ:INCY) will be reporting earnings tomorrow before the bell. Here’s what to expect.
Incyte beat analysts’ revenue expectations by 5.2% last quarter, reporting revenues of $1.14 billion, up 23.8% year on year. It was a strong quarter for the company, with a miss of analysts’ EPS estimates.
Is Incyte a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Incyte’s revenue to grow 12.9% year on year to $1.14 billion, improving from the 9.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.55 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Incyte has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Incyte’s peers in the biotechnology segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Regeneron delivered year-on-year revenue growth of 10.3%, beating analysts’ expectations by 1%, and AbbVie reported revenues up 5.6%, topping estimates by 1.9%. Regeneron traded up 7.7% following the results while AbbVie was also up 8.3%.
Read our full analysis of Regeneron’s results here and AbbVie’s results here.
Investors in the biotechnology segment have had steady hands going into earnings, with share prices flat over the last month. Incyte is up 7.5% during the same time and is heading into earnings with an average analyst price target of $79.92 (compared to the current share price of $77.79).
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