Incyte Corporation (INCY) saw its stock price plummet by 5.26% in pre-market trading on Monday, following the release of its fourth-quarter 2024 earnings results. The biotechnology company reported adjusted earnings per share (EPS) of $1.43, missing analysts' expectations of $1.56.
The earnings miss appears to be the primary factor driving the stock's decline. Despite reporting revenue of $1.18 billion, which beat estimates of $1.14 billion, investors seem to have been displeased by the lower-than-expected profitability. The company cited higher manufacturing costs and royalty expenses as contributing factors to the earnings shortfall.
Additionally, while Incyte's lead product Jakafi and dermatology drug Opzelura continued to perform well, with year-over-year sales growth, concerns over maintaining momentum and managing rising operating expenses may have weighed on investor sentiment. The company's ability to sustain growth and control costs will likely be crucial in the upcoming quarters.
精彩评论