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INCY

Incyte NasdaqGS:INCY Stock Report

Last Price

US$67.66

Market Cap

US$15.0b

7D

1.2%

1Y

-1.5%

Updated

28 Sep, 2022

Data

Company Financials +
INCY fundamental analysis
Snowflake Score
Valuation4/6
Future Growth5/6
Past Performance5/6
Financial Health6/6
Dividends0/6

INCY Stock Overview

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally.

Incyte Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Incyte
Historical stock prices
Current Share PriceUS$67.66
52 Week HighUS$84.86
52 Week LowUS$61.91
Beta0.66
1 Month Change-4.04%
3 Month Change-10.94%
1 Year Change-1.47%
3 Year Change-7.37%
5 Year Change-40.56%
Change since IPO3,508.53%

Recent News & Updates

Sep 15

Incyte drug Pemazyre to treat rare cancer cholangiocarcinoma approved in Australia

Incyte's (NASDAQ:INCY) drug Pemazyre to treat a rare bile duct cancer called cholangiocarcinoma has been approved for use in Australia. The decision to approve for the indication had been made on the basis of overall response rate and duration of response and a continued approval depends on verification and description of benefit in confirmatory trials. The drug has also been approved in the United States, Europe, Great Britain, Canada and Japan. Pemazyre is not yet reimbursed in Australia, it is currently being made available to eligible patients via a co-pay access program. In the primary analysis of 108 patients enrolled in the trial, treatment with the drug resulted in an objective response rate of 37% with 3.7% of patients having a confirmed complete response and 33.3% having a confirmed partial response.

Aug 26

Incyte wins approval of Pemazyre for rare blood cancer

The US FDA has approved Incyte's (NASDAQ:INCY) Pemazyre (pemigatinib) for the treatment of adults with relapsed or refractory myeloid/lymphoid neoplasms (MLNs) with FGFR1 rearrangement. The selective fibroblast growth factor receptor (FGFR) inhibitor was approved based on the phase 2 FIGHT-203 study, a single-arm trial in 28 patients. Results showed that with patients in the chronic phase in the marrow with or without extramedullary disease, the complete response rate ("CR") was 78%. The median time to response of CR was 104 days. Pemazyre gained it first approval in 2020 for previously treated, unresectable locally advanced or metastatic cholangiocarcinoma with a fibroblast growth factor receptor 2 (FGFR2) fusion. Seeking Alpha contributor Walter Zelezniak Jr, who has a buy rating on Incyte (INCY), provides a technical analysis of the stock.

Aug 02

Incyte Q2 results beat on top and bottom lines as net income soars 27%; shares down 6%

Incyte (NASDAQ:INCY) saw its Q2 net income rise ~27% year over year to ~$226.4M as it beat on the top and bottom lines. Non-GAAP basic EPS of $1.02 compared to $0.81 in Q2 2021. Revenue of $911.4M was ~29% year-over-year increase. This was driven by a 13% increase in Jakafi (ruxolitinib) sales to ~$597.7M. Pemazyre (pemigatinib) revenue also increased ~6% to ~$19M. Non-GAAP SG&A expenses rose 54% $235.6M. Incyte ended the quarter with $2.7B in cash and cash equivalents. That compares to $2.3B on Dec. 31, 2022. Check out this technical analysis of Incyte (INCY) from Seeking Alpha contributor Walter Zelezniak Jr., who has a buy rating.

Shareholder Returns

INCYUS BiotechsUS Market
7D1.2%2.9%-2.0%
1Y-1.5%-24.2%-20.3%

Return vs Industry: INCY exceeded the US Biotechs industry which returned -27.4% over the past year.

Return vs Market: INCY exceeded the US Market which returned -22.1% over the past year.

Price Volatility

Is INCY's price volatile compared to industry and market?
INCY volatility
INCY Average Weekly Movement3.5%
Biotechs Industry Average Movement11.1%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: INCY is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: INCY's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19912,094Herve Hoppenothttps://www.incyte.com

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia. Its clinical stage products include ruxolitinib, a steroid-refractory chronic graft-versus-host-diseases (GVHD); itacitinib, which is in Phase II/III clinical trial to treat naïve chronic GVHD; and pemigatinib for treating bladder cancer, cholangiocarcinoma, myeloproliferative syndrome, and tumor agnostic.

Incyte Fundamentals Summary

How do Incyte's earnings and revenue compare to its market cap?
INCY fundamental statistics
Market CapUS$15.05b
Earnings (TTM)US$945.01m
Revenue (TTM)US$3.32b

15.9x

P/E Ratio

4.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
INCY income statement (TTM)
RevenueUS$3.32b
Cost of RevenueUS$1.66b
Gross ProfitUS$1.66b
Other ExpensesUS$716.31m
EarningsUS$945.01m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)4.25
Gross Margin50.03%
Net Profit Margin28.46%
Debt/Equity Ratio0%

How did INCY perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is INCY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for INCY?

Other financial metrics that can be useful for relative valuation.

INCY key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue3.7x
Enterprise Value/EBITDA15.5x
PEG Ratio0.5x

Price to Earnings Ratio vs Peers

How does INCY's PE Ratio compare to its peers?

INCY PE Ratio vs Peers
The above table shows the PE ratio for INCY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average18.3x
HZNP Horizon Therapeutics
19.2x25.6%US$14.7b
UTHR United Therapeutics
15.2x17.6%US$9.6b
EXEL Exelixis
19.1x24.1%US$5.2b
BIIB Biogen
19.5x-4.1%US$40.1b
INCY Incyte
15.9x30.0%US$15.0b

Price-To-Earnings vs Peers: INCY is good value based on its Price-To-Earnings Ratio (15.9x) compared to the peer average (18.3x).


Price to Earnings Ratio vs Industry

How does INCY's PE Ratio compare vs other companies in the US Biotechs Industry?

Price-To-Earnings vs Industry: INCY is expensive based on its Price-To-Earnings Ratio (15.9x) compared to the US Biotechs industry average (13.9x)


Price to Earnings Ratio vs Fair Ratio

What is INCY's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

INCY PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.9x
Fair PE Ratio30x

Price-To-Earnings vs Fair Ratio: INCY is good value based on its Price-To-Earnings Ratio (15.9x) compared to the estimated Fair Price-To-Earnings Ratio (30x).


Share Price vs Fair Value

What is the Fair Price of INCY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: INCY ($67.66) is trading below our estimate of fair value ($317.31)

Significantly Below Fair Value: INCY is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Incyte forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


30.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: INCY's forecast earnings growth (30% per year) is above the savings rate (1.9%).

Earnings vs Market: INCY's earnings (30% per year) are forecast to grow faster than the US market (14.8% per year).

High Growth Earnings: INCY's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: INCY's revenue (12.6% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: INCY's revenue (12.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: INCY's Return on Equity is forecast to be high in 3 years time (27.7%)


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Past Performance

How has Incyte performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


50.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: INCY has a high level of non-cash earnings.

Growing Profit Margin: INCY's current net profit margins (28.5%) are higher than last year (12.4%).


Past Earnings Growth Analysis

Earnings Trend: INCY has become profitable over the past 5 years, growing earnings by 50% per year.

Accelerating Growth: INCY's earnings growth over the past year (179.9%) exceeds its 5-year average (50% per year).

Earnings vs Industry: INCY earnings growth over the past year (179.9%) exceeded the Biotechs industry 29.2%.


Return on Equity

High ROE: INCY's Return on Equity (23.1%) is considered high.


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Financial Health

How is Incyte's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: INCY's short term assets ($3.6B) exceed its short term liabilities ($926.7M).

Long Term Liabilities: INCY's short term assets ($3.6B) exceed its long term liabilities ($307.3M).


Debt to Equity History and Analysis

Debt Level: INCY is debt free.

Reducing Debt: INCY has no debt compared to 5 years ago when its debt to equity ratio was 2.3%.

Debt Coverage: INCY has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: INCY has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Incyte current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Incyte Dividend Yield vs Market
How does Incyte dividend yield compare to the market?
SegmentDividend Yield
Company (Incyte)n/a
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Biotechs)2.7%
Analyst forecast in 3 Years (Incyte)0%

Notable Dividend: Unable to evaluate INCY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate INCY's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if INCY's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if INCY's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as INCY has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

6.5yrs

Average management tenure


CEO

Herve Hoppenot (62 yo)

8.67yrs

Tenure

US$14,444,265

Compensation

Mr. Herve Hoppenot has been the Chairman of the Board at Incyte Corporation since May 2015 and as its Chief Executive Officer and President since January 13, 2014. Mr. Hoppenot served as the Chief Commerci...


CEO Compensation Analysis

Herve Hoppenot's Compensation vs Incyte Earnings
How has Herve Hoppenot's remuneration changed compared to Incyte's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$945m

Mar 31 2022n/an/a

US$933m

Dec 31 2021US$14mUS$1m

US$949m

Sep 30 2021n/an/a

US$535m

Jun 30 2021n/an/a

US$338m

Mar 31 2021n/an/a

US$478m

Dec 31 2020US$16mUS$1m

-US$296m

Sep 30 2020n/an/a

-US$335m

Jun 30 2020n/an/a

-US$191m

Mar 31 2020n/an/a

-US$376m

Dec 31 2019US$15mUS$1m

US$447m

Sep 30 2019n/an/a

US$405m

Jun 30 2019n/an/a

US$306m

Mar 31 2019n/an/a

US$253m

Dec 31 2018US$9mUS$996k

US$109m

Sep 30 2018n/an/a

-US$109m

Jun 30 2018n/an/a

-US$102m

Mar 31 2018n/an/a

-US$167m

Dec 31 2017US$16mUS$967k

-US$313m

Sep 30 2017n/an/a

-US$155m

Jun 30 2017n/an/a

-US$154m

Mar 31 2017n/an/a

-US$107m

Dec 31 2016US$12mUS$938k

US$104m

Sep 30 2016n/an/a

US$151m

Jun 30 2016n/an/a

US$74m

Mar 31 2016n/an/a

US$49m

Dec 31 2015US$6mUS$899k

US$7m

Compensation vs Market: Herve's total compensation ($USD14.44M) is about average for companies of similar size in the US market ($USD13.05M).

Compensation vs Earnings: Herve's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: INCY's management team is seasoned and experienced (6.5 years average tenure).


Board Members

Experienced Board: INCY's board of directors are considered experienced (6.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NasdaqGS:INCY Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
10 Mar 22BuyUS$28,107,770Baker Bros. Advisors LPCompany389,080US$73.31
22 Feb 22BuyUS$35,734,890Baker Bros. Advisors LPCompany525,804US$68.43
14 Feb 22BuyUS$106,952,404Baker Bros. Advisors LPCompany1,598,374US$67.54
17 Dec 21BuyUS$115,558,900Baker Bros. Advisors LPCompany1,595,519US$72.91

Ownership Breakdown

What is the ownership structure of INCY?
Owner TypeNumber of SharesOwnership Percentage
Private Companies31,1400.01%
State or Government79,9520.04%
Individual Insiders1,564,2530.7%
General Public5,713,8672.6%
Hedge Funds36,154,11716.3%
Institutions178,887,30680.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 74.04% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
16.25%
Baker Bros. Advisors LP
36,154,117$2.4b0%14.22%
9.44%
The Vanguard Group, Inc.
20,989,613$1.4b0.49%0.03%
9.02%
Dodge & Cox
20,067,845$1.4b11.12%0.78%
8.57%
BlackRock, Inc.
19,059,378$1.3b5.34%0.03%
4.57%
Wellington Management Group LLP
10,154,451$687.1m8.74%0.12%
4.25%
State Street Global Advisors, Inc.
9,452,876$639.6m2.14%0.04%
3.88%
RBC Global Asset Management Inc.
8,637,339$584.4m17.92%0.44%
2.31%
Renaissance Technologies LLC
5,142,733$348.0m9.47%0.43%
1.68%
Geode Capital Management, LLC
3,732,266$252.5m1.72%0.03%
1.53%
T. Rowe Price Group, Inc.
3,406,182$230.5m-27.41%0.03%
1.44%
First Trust Advisors LP
3,200,655$216.6m251.81%0.25%
1.25%
Bellevue Asset Management AG
2,773,377$187.6m-2.6%2.09%
1.23%
UBS Asset Management
2,745,207$185.7m-47.62%0.04%
0.9%
Armistice Capital LLC
2,000,000$135.3m31.23%3.24%
0.9%
Northern Trust Global Investments
1,997,901$135.2m0.91%0.03%
0.81%
Capital Research and Management Company
1,804,426$122.1m-3.67%0.01%
0.76%
Norges Bank Investment Management
1,679,539$113.6m0%0.02%
0.75%
Invesco Capital Management LLC
1,670,626$113.0m16%0.09%
0.71%
BNY Mellon Asset Management
1,572,843$106.4m15.95%0.02%
0.69%
Stichting Pensioenfonds ABP
1,539,318$104.2m42.04%0.14%
0.68%
D. E. Shaw & Co., L.P.
1,502,756$101.7m-31.08%0.19%
0.67%
Legal & General Investment Management Limited
1,490,236$100.8m8.68%0.03%
0.61%
Manulife Asset Management
1,348,637$91.2m-0.08%0.09%
0.6%
California Public Employees' Retirement System
1,344,262$91.0m-2.82%0.08%
0.55%
ARK Investment Management LLC
1,219,195$82.5m-3.37%0.56%

Company Information

Incyte Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Incyte Corporation
  • Ticker: INCY
  • Exchange: NasdaqGS
  • Founded: 1991
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: US$15.050b
  • Shares outstanding: 222.43m
  • Website: https://www.incyte.com

Number of Employees


Location

  • Incyte Corporation
  • 1801 Augustine Cut-Off
  • Wilmington
  • Delaware
  • 19803
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
INCYNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDNov 1993
ICYDB (Deutsche Boerse AG)YesCommon SharesDEEURNov 1993
0J9PLSE (London Stock Exchange)YesCommon SharesGBUSDNov 1993
ICYETLX (Eurotlx)YesCommon SharesITEURNov 1993
INCY *BMV (Bolsa Mexicana de Valores)YesCommon SharesMXMXNNov 1993
I1NC34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH 2 REPR 1 COMBRBRLJan 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.