Wilmington, DE-based Incyte Corporation (INCY - Free Report) is a biopharmaceutical company focused on the discovery, development and commercialization of proprietary therapeutics.
Incyte’s lead drug, Jakafi (ruxolitinib), is a first-in-class JAK1/JAK2 inhibitor, approved for the treatment of patients with polycythemia vera (PV), patients with intermediate or high-risk myelofibrosis (MF), including primary MF, post-PV MF, and post-essential thrombocythemia MF. Incyte continues to gain traction by Jakafi’s performance. Jakafi sales are being driven by patient demand. The company is also working to expand the drug’s label.
While Jakafi sales and royalties are a key component of Incyte’s revenue growth, Iclusig sales and Olumiant royalties are also contributing to the top line. In February 2017, the European Commission approved Olumiant for patients with rheumatoid arthritis.
Incyte’s earnings track record has been mixed so far. Of the last four quarters, the company surpassed expectations in three and missed estimates in one. Overall, Incyte delivered an average positive surprise of 42.9%.
Currently, Incyte has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Our consensus called for a loss of 52 cents, while the company reported a loss of 71 cents.
Revenue: Incyte Pharma posted revenues of $444.2 million which beat our consensus estimate of $326.5 million.
Key Stats: Jakafi sales came in at $302 million, up 27% from a year ago. Iclusig revenues were $19 million, up from $13 million in the year-ago quarter.
Check back later for our full write up on this INCY earnings report later!
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Wilmington, DE-based Incyte Corporation (INCY - Free Report) is a biopharmaceutical company focused on the discovery, development and commercialization of proprietary therapeutics.
Incyte’s lead drug, Jakafi (ruxolitinib), is a first-in-class JAK1/JAK2 inhibitor, approved for the treatment of patients with polycythemia vera (PV), patients with intermediate or high-risk myelofibrosis (MF), including primary MF, post-PV MF, and post-essential thrombocythemia MF. Incyte continues to gain traction by Jakafi’s performance. Jakafi sales are being driven by patient demand. The company is also working to expand the drug’s label.
While Jakafi sales and royalties are a key component of Incyte’s revenue growth, Iclusig sales and Olumiant royalties are also contributing to the top line. In February 2017, the European Commission approved Olumiant for patients with rheumatoid arthritis.
Incyte’s earnings track record has been mixed so far. Of the last four quarters, the company surpassed expectations in three and missed estimates in one. Overall, Incyte delivered an average positive surprise of 42.9%.
Currently, Incyte has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Our consensus called for a loss of 52 cents, while the company reported a loss of 71 cents.
Revenue: Incyte Pharma posted revenues of $444.2 million which beat our consensus estimate of $326.5 million.
Key Stats: Jakafi sales came in at $302 million, up 27% from a year ago. Iclusig revenues were $19 million, up from $13 million in the year-ago quarter.
Check back later for our full write up on this INCY earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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