INCY Stock Analysis: Incyte | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 23.371m USD | 12M Return: 30.1% | US45337C1027 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 202M
EPS Trend: 58.6%
Qual. Beats: 1
Rev. Trend: 98.9%
Qual. Beats: 8
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Incyte Corporation (NASDAQ: INCY) is a U.S.-based biopharmaceutical company founded in 1991 and headquartered in Wilmington, Delaware. Originally named Incyte Genomics Inc., the company rebranded in March 2003 and now operates in the United States, Europe, Canada, and Japan. It is classified within the biotechnology sub-industry of the Health Care sector and has a large-cap market capitalization.
Incytes commercial portfolio centers on JAKAFI (ruxolitinib), marketed for myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease. Additional marketed products include ICLUSIG for chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia, MONJUVI/MINJUVI for diffuse large B-cell lymphoma and follicular lymphoma, NIKTIMVO for chronic graft-versus-host disease, PEMAZYRE for biliary tract cancer and related malignancies, and ZYNYZ for metastatic or recurrent locally advanced Merkel cell carcinoma.
The companys clinical-stage assets target a range of conditions, including ovarian cancer, solid tumors, atopic dermatitis, hidradenitis suppurativa, vitiligo, asthma, and fibrodysplasia ossificans progressiva. Key development programs include ruxolitinib cream, povorcitinib, and multiple INCB/INCA compounds aimed at myeloproliferative neoplasms and other cancers. Incyte maintains collaboration and license agreements with Novartis, Lilly, and Syndax, and distributes its products through specialty and retail pharmacies, hospital pharmacies, and wholesalers.
Biopharmaceutical companies such as Incyte typically operate a high-risk, R&D-driven business model, generating revenue from a limited number of approved therapeutics while investing significantly in clinical-stage pipelines to sustain long-term growth. Specialty drug manufacturers often focus on rare or underserved diseases, where regulatory exclusivity and targeted treatment populations support premium pricing.
- Jakafi revenue pressured by myelofibrosis competition
- Opzelura cream growth drives dermatology segment expansion
- Povorcitinib phase 3 data in vitiligo and HS approaching
| Net Income: 1.61b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.24 > 0.02 and ΔFCF/TA 8.15 > 1.0 |
| NWC/Revenue: 82.59% < 20% (prev 51.58%; Δ 31.01% < -1%) |
| CFO/TA 0.25 > 3% & CFO 1.98b > Net Income 1.61b |
| Net Debt (-4.50b) to EBITDA (2.07b): -2.17 < 3 |
| Current Ratio: 4.66 > 1.5 & < 3 |
| Outstanding Shares: last quarter (208.2m) vs 12m ago 4.77% < -2% |
| Gross Margin: 92.62% > 18% (prev 92.88%; Δ -0.26% > 0.5%) |
| Asset Turnover: 84.99% > 50% (prev 78.76%; Δ 6.23% > 0%) |
| Interest Coverage Ratio: 847.5 > 6 (EBIT TTM 1.97b / Interest Expense TTM 2.32m) |
| A: 0.61 (Total Current Assets 6.12b - Total Current Liabilities 1.31b) / Total Assets 7.87b |
| B: 0.14 (Retained Earnings 1.10b / Total Assets 7.87b) |
| C: 0.29 (EBIT TTM 1.97b / Avg Total Assets 6.85b) |
| D: 4.15 (Book Value of Equity 6.34b / Total Liabilities 1.53b) |
| Altman-Z'' = 10.75 = AAA |
| DSRI: 1.05 (Receivables 1.13b/842.9m, Revenue 5.82b/4.58b) |
| GMI: 1.00 (GM 92.88% / 92.62%) |
| AQI: 0.56 (AQ_t 0.13 / AQ_t-1 0.23) |
| SGI: 1.27 (Revenue 5.82b / 4.58b) |
| TATA: -0.05 (NI 1.61b - CFO 1.98b) / TA 7.87b) |
| Beneish M = -3.05 (Cap -4..+1) = AA |
As of October 08, 2026, the stock is trading at USD 113.44 with a total of 1,274,487 shares traded. Over the past week, the price has changed by -6.52%, over one month by -8.81%, over three months by -3.91% and over the past year by +30.14%.
Current recommended Stop Loss: 109.40 (which is 3.6% or 1.2 ATR below the current price).
Incyte has received a consensus analysts rating of 3.71. Therefore, it is recommended to hold INCY.
- StrongBuy: 10
- Buy: 2
- Hold: 15
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 128.4 | 13.2% |
P/E Trailing = 14.6879
P/E Forward = 14.7059
P/S = 4.016
P/B = 4.0527
P/EG = 10.8221
Revenue TTM = 5.82b USD
EBIT TTM = 1.97b USD
EBITDA TTM = 2.07b USD
Long Term Debt = 28.4m USD (estimated: total debt 38.3m - short term 9.85m)
Short Term Debt = 9.85m USD (from shortTermDebt, last quarter)
Debt = 38.3m USD (from shortLongTermDebtTotal, last quarter) (leases 38.3m already included)
Net Debt = -4.50b USD (calculated: Debt 38.3m - CCE 4.54b)
Enterprise Value = 18.9b USD (23.4b + Debt 38.3m - CCE 4.54b)
Interest Coverage Ratio = 847.5 (Ebit TTM 1.97b / Interest Expense TTM 2.32m)
EV/FCF = 9.83x (Enterprise Value 18.9b / FCF TTM 1.92b)
FCF Yield = 10.18% (FCF TTM 1.92b / Enterprise Value 18.9b)
FCF Margin = 33.00% (FCF TTM 1.92b / Revenue TTM 5.82b)
Net Margin = 27.71% (Net Income TTM 1.61b / Revenue TTM 5.82b)
Gross Margin = 92.62% ((Revenue TTM 5.82b - Cost of Revenue TTM 429.6m) / Revenue TTM)
Gross Margin QoQ = 93.73% (prev 91.79%)
Tobins Q-Ratio = 2.40 (Enterprise Value 18.9b / Total Assets 7.87b)
Interest Expense / Debt = 6.07% (Interest Expense 2.32m / Debt 38.3m)
Taxrate = 18.04% (355.0m / 1.97b)
NOPAT = 1.61b (EBIT 1.97b * (1 - 18.04%))
Current Ratio = 4.66 (Total Current Assets 6.12b / Total Current Liabilities 1.31b)
Debt / Equity = 0.01 (Debt 38.3m / totalStockholderEquity, last quarter 6.34b)
Debt / EBITDA = -2.17 (Net Debt -4.50b / EBITDA 2.07b)
Debt / FCF = -2.34 (Net Debt -4.50b / FCF TTM 1.92b)
Total Stockholder Equity = 5.43b (last 4 quarters mean from totalStockholderEquity)
RoA = 23.55% (Net Income 1.61b / Total Assets 7.87b)
RoE = 29.70% (Net Income TTM 1.61b / Total Stockholder Equity 5.43b)
RoCE = 36.09% (EBIT 1.97b / Capital Employed (Equity 5.43b + L.T.Debt 28.4m))
RoIC = 25.71% (NOPAT 1.61b / Invested Capital 6.28b)
WACC = 6.60% (E(23.4b)/V(23.4b) * Re(6.60%) + D(38.3m)/V(23.4b) * Rd(6.07%) * (1-Tc(0.18)))
Discount Rate = 6.60% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -35.15 | Cagr: -3.81%
[DCF] Terminal Value 77.97% ; FCFF base≈1.53b ; Y1≈1.75b ; Y5≈2.58b
[DCF] Fair Price = 213.9 (EV 38.9b - Net Debt -4.50b = Equity 43.4b / Shares 202.7m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 58.55 | EPS CAGR: 67.89% | SUE: 0.93 | # QB: 1
Revenue Correlation: 98.90 | Revenue CAGR: 18.74% | SUE: 4.0 | # QB: 8
EPS current Quarter (2026-09-30): EPS=-3.55 | Chg30d=-2.25% | Revisions=-73% | Analysts=17
EPS current Year (2026-12-31): EPS=3.37 | Chg30d=-3.20% | Revisions=-79% | GrowthEPS=-50.5% | GrowthRev=+15.5%
EPS next Year (2027-12-31): EPS=8.78 | Chg30d=-1.76% | Revisions=-50% | GrowthEPS=+160.8% | GrowthRev=+5.4%
[Analyst] Revisions Ratio: -79% (up=2, down=28)