(INCY) Incyte - Overview
JAKAFI, MONJUVI, PEMAZYRE, ICLUSIG, OPZELURA
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 34.2% |
| Relative Tail Risk | -9.05% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.99 |
| Alpha | 27.65 |
| Character TTM | |
|---|---|
| Beta | 0.567 |
| Beta Downside | 0.571 |
| Drawdowns 3y | |
|---|---|
| Max DD | 40.21% |
| CAGR/Max DD | 0.14 |
Description: INCY Incyte January 04, 2026
Incyte Corporation (NASDAQ: INCY) is a U.S.-based biopharmaceutical firm that discovers, develops, and commercializes specialty therapeutics across the United States, Europe, Canada, and Japan. Its marketed portfolio includes JAKAFI (ruxolitinib) for myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI/MINJUVI (tafasitamab) for relapsed/refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib) for biliary-tract cancers and cholangiocarcinoma; ICLUSIG (ponatinib) for chronic myeloid leukemia and Ph+ ALL; ZYNYZ (retifanlimab) for Merkel cell carcinoma; NIKTIMVO (axatilimab) for chronic GVHD; and OPZELURA (ruxolitinib) cream for atopic dermatitis.
Incyte’s clinical pipeline spans multiple modalities, such as INCB123667 (CDK2 inhibitor) for ovarian cancer, INCB161734 (KRAS G12D inhibitor) targeting KRAS-mutant solid tumors, and INCA33890 (TGF-βR2×PD-1 bispecific) for solid-tumor immunotherapy. Early-stage assets include topical ruxolitinib for hidradenitis suppurativa, Povorcitinib for several inflammatory skin disorders, and anti-CD122 for vitiligo, reflecting a strategic focus on immune-mediated diseases. The company also partners with Genesis Therapeutics to accelerate next-generation drug discovery.
Financially, Incyte generated $2.5 billion in total revenue for FY 2023, with JAKAFI and ICLUSIG accounting for roughly 55 % of sales; R&D spend remained steady at $820 million, underscoring its commitment to pipeline expansion. The global JAK-inhibitor market is projected to grow at an 8 % CAGR through 2028, providing a favorable backdrop for its ruxolitinib franchise, while the broader biotech sector benefits from robust cash-flow generation and high-margin specialty drug pricing. For a deeper dive into INCY’s valuation and risk profile, consider reviewing the detailed analysis on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 7.5
| Net Income: 1.19b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.19 > 0.02 and ΔFCF/TA 18.57 > 1.0 |
| NWC/Revenue: 61.02% < 20% (prev 32.07%; Δ 28.95% < -1%) |
| CFO/TA 0.20 > 3% & CFO 1.25b > Net Income 1.19b |
| Net Debt (-2.41b) to EBITDA (1.68b): -1.43 < 3 |
| Current Ratio: 3.19 > 1.5 & < 3 |
| Outstanding Shares: last quarter (201.4m) vs 12m ago 2.85% < -2% |
| Gross Margin: 91.91% > 18% (prev 0.91%; Δ 9100 % > 0.5%) |
| Asset Turnover: 84.87% > 50% (prev 81.31%; Δ 3.55% > 0%) |
| Interest Coverage Ratio: 702.2 > 6 (EBITDA TTM 1.68b / Interest Expense TTM 2.27m) |
Altman Z'' 4.84
| A: 0.46 (Total Current Assets 4.28b - Total Current Liabilities 1.34b) / Total Assets 6.33b |
| B: -0.01 (Retained Earnings -85.5m / Total Assets 6.33b) |
| C: 0.28 (EBIT TTM 1.59b / Avg Total Assets 5.67b) |
| D: -0.04 (Book Value of Equity -70.8m / Total Liabilities 1.68b) |
| Altman-Z'' Score: 4.84 = AA |
Beneish M -3.10
| DSRI: 1.00 (Receivables 895.9m/758.5m, Revenue 4.81b/4.08b) |
| GMI: 0.99 (GM 91.91% / 91.21%) |
| AQI: 0.69 (AQ_t 0.19 / AQ_t-1 0.28) |
| SGI: 1.18 (Revenue 4.81b / 4.08b) |
| TATA: -0.01 (NI 1.19b - CFO 1.25b) / TA 6.33b) |
| Beneish M-Score: -3.10 (Cap -4..+1) = AA |
What is the price of INCY shares?
Over the past week, the price has changed by -3.33%, over one month by +1.90%, over three months by +10.40% and over the past year by +38.32%.
Is INCY a buy, sell or hold?
- StrongBuy: 8
- Buy: 3
- Hold: 15
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the INCY price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 102.3 | 1.1% |
| Analysts Target Price | 102.3 | 1.1% |
| ValueRay Target Price | 106.9 | 5.6% |
INCY Fundamental Data Overview January 27, 2026
P/E Forward = 13.4409
P/S = 4.1601
P/B = 4.3049
P/EG = 0.1326
Revenue TTM = 4.81b USD
EBIT TTM = 1.59b USD
EBITDA TTM = 1.68b USD
Long Term Debt = 33.5m USD (from longTermDebt, last fiscal year)
Short Term Debt = 10.4m USD (from shortTermDebt, last quarter)
Debt = 41.3m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -2.41b USD (from netDebt column, last quarter)
Enterprise Value = 17.13b USD (20.02b + Debt 41.3m - CCE 2.93b)
Interest Coverage Ratio = 702.2 (Ebit TTM 1.59b / Interest Expense TTM 2.27m)
EV/FCF = 14.31x (Enterprise Value 17.13b / FCF TTM 1.20b)
FCF Yield = 6.99% (FCF TTM 1.20b / Enterprise Value 17.13b)
FCF Margin = 24.87% (FCF TTM 1.20b / Revenue TTM 4.81b)
Net Margin = 24.69% (Net Income TTM 1.19b / Revenue TTM 4.81b)
Gross Margin = 91.91% ((Revenue TTM 4.81b - Cost of Revenue TTM 389.4m) / Revenue TTM)
Gross Margin QoQ = 92.75% (prev 92.13%)
Tobins Q-Ratio = 2.71 (Enterprise Value 17.13b / Total Assets 6.33b)
Interest Expense / Debt = 1.43% (Interest Expense 592.0k / Debt 41.3m)
Taxrate = 12.05% (58.1m / 482.3m)
NOPAT = 1.40b (EBIT 1.59b * (1 - 12.05%))
Current Ratio = 3.19 (Total Current Assets 4.28b / Total Current Liabilities 1.34b)
Debt / Equity = 0.01 (Debt 41.3m / totalStockholderEquity, last quarter 4.65b)
Debt / EBITDA = -1.43 (Net Debt -2.41b / EBITDA 1.68b)
Debt / FCF = -2.02 (Net Debt -2.41b / FCF TTM 1.20b)
Total Stockholder Equity = 3.98b (last 4 quarters mean from totalStockholderEquity)
RoA = 20.96% (Net Income 1.19b / Total Assets 6.33b)
RoE = 29.83% (Net Income TTM 1.19b / Total Stockholder Equity 3.98b)
RoCE = 39.59% (EBIT 1.59b / Capital Employed (Equity 3.98b + L.T.Debt 33.5m))
RoIC = 35.11% (NOPAT 1.40b / Invested Capital 3.98b)
WACC = 8.00% (E(20.02b)/V(20.06b) * Re(8.01%) + D(41.3m)/V(20.06b) * Rd(1.43%) * (1-Tc(0.12)))
Discount Rate = 8.01% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -5.62%
[DCF Debug] Terminal Value 72.00% ; FCFF base≈724.9m ; Y1≈515.3m ; Y5≈275.6m
Fair Price DCF = 39.10 (EV 5.26b - Net Debt -2.41b = Equity 7.68b / Shares 196.3m; r=8.00% [WACC]; 5y FCF grow -33.99% → 2.90% )
[DCF Warning] FCF declining rapidly (-33.99%), DCF may be unreliable
EPS Correlation: 6.40 | EPS CAGR: -6.53% | SUE: -4.0 | # QB: 0
Revenue Correlation: 87.69 | Revenue CAGR: 13.03% | SUE: 2.47 | # QB: 5
EPS next Quarter (2026-03-31): EPS=1.55 | Chg30d=-0.059 | Revisions Net=-1 | Analysts=7
EPS next Year (2026-12-31): EPS=7.68 | Chg30d=-0.022 | Revisions Net=+1 | Growth EPS=+13.7% | Growth Revenue=+11.1%