INCY was heading down early today, even before the overall market skidded, although it reported seemingly good earnings for the last quarter and announced a much-awaited stock split. Is it possible that some of the fickle momentum guys with very short-term horizons started to blow it out of their portfolios on the following premise:
Although revenues look great on a year-to-year basis, they are only up 7% sequentially ($22,662 versus $21,192). The consensus income number of $0.22 was achieved and exceeded with margin improvement and with the help of "other income", proportionately more than in the previous quarter ($1,271 versus $525) - some of it, no doubt, interest income from all the cash on hand from the secondary.
Larry, R-man ("pseudo-insider"?) and others: What can be expected of the 4th Q?
Revenues, I assume, will remain steady - unless a series of new subscribers materialize, in addition to NV Organon. The consensus numbers for the quarter and for the year will be achieved, with the help of more "other income". $10 million will be contributed to diaDexus, and a 3rd partner may be announced. Possibly some promising developments and/or potential products from the numerous strategic alliances? Other possible events?
Having been a long-term believer, and even more so after the SmithKline/HGSI announcement, I am trying to assess the degree of potential short-term weakness, if any, in order to accumulate further. |
