Incyte Analysts Raise Their Forecasts After Upbeat Q2 Results - Incyte (NASDAQ:INCY)

Incyte Corp.

(NASDAQ:INCY) on Tuesday reported better-than-expected second-quarter results and raised its full-year sales guidance.

The biopharmaceutical company reported adjusted earnings of $3.09 per share, beating the analyst consensus estimate of $2.12.

Revenue rose 38% year over year to $1.67 billion, topping the consensus estimate of $1.46 billion.

"Our second quarter was marked by broad-based sales growth, continued pipeline progress and strategic business development," Chief Executive Officer Bill Meury said.