Incyte (NASDAQ:INCY) reported on Tuesday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Incyte announced earnings per share of $-2.86 on revenue of $568.5M. Analysts polled by anticipated EPS of $0.34 on revenue of $557.41M. That with comparison to EPS of $0.47 on revenue of $497.86M in the same period a year before. Incyte had reported EPS of $0.51 on revenue of $579.39M in the previous quarter. Analysts are expecting EPS of $0.49 and revenue of $590.42M in the upcoming quarter.
Incyte shares are up 15.66% from the beginning of the year , still down 3.64% from its 52 week high of $104.80 set on April 27. They are outperforming the Nasdaq which is down 3.64% year to date.
Incyte follows other major Healthcare sector earnings this month
Incyte's report follows an earnings beat by J&J on April 14, who reported EPS of $2.3 on revenue of $20.69B, compared to forecasts EPS of $2.02 on revenue of $19.73B.
Novartis ADR had beat expectations on April 28 with first quarter EPS of $1.56 on revenue of $12.28B, compared to forecast for EPS of $1.39 on revenue of $12B.
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