Incyte Corp (INCY) released its first quarter results on Wednesday, May 5, 2021. The company reported net earnings of $0.24 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 107 percent compared to the same period a year ago.
The company was incorporated in 1991 and is headquartered in Wilmington, Delaware. Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor for the treatment of adults; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
Incyte's revenue increased 21 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 96.06% for the first quarter compared to the same period in the previous year, and operating margins increased to 21.17% over the same period. Net earnings for past trailing twelve months were $478.48 million, up 227% from the prior year.
Moving on to the balance sheet, Incyte's cash levels dropped 17% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 15.93% this past year. The current ratio for Incyte now stands at 3.95. The company increased shares outstanding by 1.53%.
Shares of INCY are currently trading around $81.28. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 37.52 and price to book ratio of 6.61.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Thursday, May 6, 2021.