- Incyte Corporation’s (NASDAQ:INCY) Q3 adjusted EPS reached $1.18, compared to $0.23 posted a year ago, beating the consensus of $0.73.
- Sales increased 31% Y/Y to $812.99 million, ahead of the consensus of $738.77 million.
- Related Link: Syndax Pharma, Incyte Ink Licensing Pact For Graft Vs. Host Disease Candidate.
- The Company reported an operating income of $235.4 million, compared to $5.32 million posted a year ago.
- Product and royalty revenues increased 25% Y/Y to $777.98 million, driven by Jakafi, Iclusig, and Pemazyre net product revenues and higher product royalty revenues from Jakavi, Olumiant, and Tabrecta.
- The 202% growth in Olumiant royalty revenues reflects an increase in net product sales due to the use of Olumiant for COVID-19.
- Cash, cash equivalents, and marketable securities totaled $2.3 billion.
- Guidance: Incyte reaffirmed FY21 Jakafi net product revenues at $2.125 billion – $2.170 billion
- Related: Incyte’s Parsaclisib Application Under FDA Review For 3 Types Of Non-Hodgkin Lymphomas.
- Price Action: INCY shares are down 8.39% at $63.50 during the market session on the last check Tuesday.
Barclays Maintains Equal-Weight on Integral Ad Science, Lowers Price Target to $17
Barclays analyst Raimo Lenschow maintains Integral Ad Science (NASDAQ:IAS) with a Equal-Weight and lowers the price target from $20 to $17.
