Biopharmaceutical company Incyte Corporation (NASDAQ: INCY) will be reporting results tomorrow morning. Here’s what investors should know.
Incyte beat analysts’ revenue expectations by 3% last quarter, reporting revenues of $1.18 billion, up 16.3% year on year. It was a slower quarter for the company, with a significant 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 12.2% year on year to $988.8 million, improving from the 8.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.06 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 Q1 results, giving us a hint as to what we can expect. AbbVie delivered year-on-year revenue growth of 2.3%, missing analysts’ expectations by 2.5%, and Gilead Sciences reported flat revenue, falling short of estimates by 2.1%. Gilead Sciences traded down 2.7% following the results.
Read our full analysis of AbbVie’s results here and Gilead Sciences’s results here.
The euphoria surrounding Trump’s November win lit a fire under major indices, but potential tariffs have caused the market to do a 180 in 2025. While some of the biotechnology stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5.6% on average over the last month. Incyte is down 1.9% during the same time and is heading into earnings with an average analyst price target of $73.31 (compared to the current share price of $59.39).
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