Symbols / INCY Stock $96.50 -0.25% Incyte Corporation

Healthcare • Biotechnology • United States • NMS
INCY (Stock) Chart
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About

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics in the United States, Europe, Canada, and Japan. The company offers JAKAFI for the treatment of myelofibrosis (MF), polycythemia vera, and steroid-refractory acute graft-versus-host disease; ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; MONJUVI/ MINJUVI for the treatment of diffuse large B-cell lymphoma and Follicular Lymphoma; NIKTIMVO for the treatment of chronic graft-versus-host disease. It also provides INCA033989 for the treatment of essential thrombocythemia and MF; INCA035784 for the treatment of anti-mutant calreticulin and myeloproliferative neoplasms (MPNs); INCB160058 for the treatment of MPNs; PEMAZYRE, a selective fibroblast growth factor receptor kinase inhibitor for the treatment of unresectable biliary tract cancer, metastatic cholangiocarcinoma, and myeloid/lymphoid neoplasms; ZYNYZ to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma. The company's clinical stage products include INCB123667 for ovarian cancer; INCB161734 for solid tumors; INCA33890 for cancers; Ruxolitinib cream for atopic dermatitis, hidradenitis suppurativa (HS), and prurigo nodularis; Povorcitinib for HS, nonsegmental vitiligo, prurigo nodularis, and asthma; and INCB00928 for the treatment of fibrodysplasia ossificans progressive. It has collaboration and license agreement with Novartis, Lilly, and Syndax. The company sells its products to specialty and retail pharmacies, hospital pharmacies, and distributors. The company was formerly known as Incyte Genomics Inc and changed its name to Incyte Corporation in March 2003. Incyte Corporation was incorporated in 1991 and is headquartered in Wilmington, Delaware.

Stock Fundamentals
Scroll to Statements
Market Cap 19.20B Enterprise Value 15.73B Income 1.29B Sales 5.14B Book/sh 26.04 Cash/sh 17.99
Dividend Yield — Payout 0.00% Employees 2844 IPO — P/E 15.05 Forward P/E 11.06
PEG 0.35 P/S 3.74 P/B 3.71 P/C — EV/EBITDA 10.92 EV/Sales 3.06
Quick Ratio 3.04 Current Ratio 3.32 Debt/Eq 1.06 LT Debt/Eq — EPS (ttm) 6.41 EPS next Y 8.73
EPS Growth 43.60% Revenue Growth 27.80% Earnings 2026-04-28 ROA 13.57% ROE 29.87% ROIC —
Gross Margin 52.88% Oper. Margin 25.57% Profit Margin 25.03% Shs Outstand 199.01M Shs Float 166.62M Short Float 8.06%
Short Ratio 7.13 Short Interest — 52W High 112.29 52W Low 57.29 Beta 0.86 Avg Volume 1.66M
Volume 23.29K Target Price $107.36 Recom Buy Prev Close $96.74 Price $96.50 Change -0.25%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$107.36
Mean price target
2. Current target
$96.50
Latest analyst target
3. DCF / Fair value
$55.13
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$96.50
Low
$71.00
High
$135.00
Mean
$107.36

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-15 reit HC Wainwright & Co. Buy → Buy $135
2026-03-30 reit HC Wainwright & Co. Buy → Buy $135
2026-03-25 main UBS Neutral → Neutral $94
2026-03-25 reit HC Wainwright & Co. Buy → Buy $135
2026-03-16 down Jefferies Buy → Hold $94
2026-03-09 reit HC Wainwright & Co. Buy → Buy $135
2026-03-05 main Evercore ISI Group In-Line → In-Line $110
2026-02-18 main Barclays Overweight → Overweight $117
2026-02-11 main RBC Capital Sector Perform → Sector Perform $92
2026-02-11 main Stifel Buy → Buy $120
2026-02-11 main Wells Fargo Equal-Weight → Equal-Weight $101
2026-02-11 reit HC Wainwright & Co. Buy → Buy $135
2026-02-06 main Piper Sandler Overweight → Overweight $110
2026-02-05 init HC Wainwright & Co. — → Buy $135
2026-02-04 main Barclays Overweight → Overweight $116
2026-01-20 down Wells Fargo Overweight → Equal-Weight $107
2026-01-13 main TD Cowen Buy → Buy $128
2026-01-06 main Morgan Stanley Equal-Weight → Equal-Weight $94
2025-12-08 main Morgan Stanley Equal-Weight → Equal-Weight $92
2025-12-08 main Wells Fargo Overweight → Overweight $116
News
RSS: Latest INCY news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-17 CAGNONI PABLO J President — 18,667 $96.50 $1,801,366
2026-04-17 CAGNONI PABLO J President — 18,667 $64.25 $1,296,046
2026-04-15 CAGNONI PABLO J Officer — 27,892 $0.00 $0
2026-04-15 MEURY WILLIAM Chief Executive Officer — 125,000 — —
2026-04-15 STEIN STEVEN H. Officer — 39,049 $0.00 $0
2026-03-31 BAKER BROS ADVISORS L.P. Beneficial Owner of more than 10% of a Class of Security — 842 $0.00 $0
2026-03-31 HARRIGAN EDMUND P. M.D. Director — 269 $94.12 $25,318
2026-03-31 CLANCY PAUL J. Director — 265 $94.12 $24,942
2026-03-17 CAGNONI PABLO J Officer — 18,667 $94.24 $1,759,178
2026-03-17 CAGNONI PABLO J Officer — 18,667 $61.18 $1,177,355
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
5,141.24
+21.22%
4,241.22
+14.76%
3,695.65
+8.87%
3,394.64
Operating Revenue
5,141.24
+21.22%
4,241.22
+14.76%
3,695.65
+8.87%
3,394.64
Cost Of Revenue
372.10
+19.22%
312.10
+22.40%
254.99
+23.18%
207.00
Reconciled Cost Of Revenue
372.10
+19.22%
312.10
+22.40%
254.99
+23.18%
207.00
Gross Profit
4,769.14
+21.38%
3,929.12
+14.20%
3,440.66
+7.94%
3,187.64
Operating Expense
3,426.35
-10.49%
3,827.82
+37.43%
2,785.30
+7.29%
2,596.01
Research And Development
2,050.15
-21.36%
2,606.85
+60.17%
1,627.59
+2.63%
1,585.94
Selling General And Administration
1,376.20
+12.62%
1,222.00
+5.74%
1,155.66
+15.32%
1,002.10
General And Administrative Expense
1,376.20
+12.62%
1,222.00
+5.23%
1,161.30
+15.89%
1,002.10
Salaries And Wages
515.30
+13.98%
452.10
+17.06%
386.20
+12.83%
342.30
Other Gand A
860.90
+11.82%
769.90
-0.67%
775.10
+17.47%
659.80
Other Operating Expenses
—
-1.02
-150.12%
2.04
-74.35%
7.97
Total Expenses
3,798.45
-8.25%
4,139.92
+36.17%
3,040.29
+8.47%
2,803.01
Operating Income
1,342.79
+1225.64%
101.29
-84.54%
655.36
+10.77%
591.63
Total Operating Income As Reported
1,514.86
+2368.56%
61.37
-90.11%
620.52
+7.09%
579.44
EBITDA
1,760.16
+331.25%
408.16
-55.61%
919.43
+53.33%
599.64
Normalized EBITDA
1,566.75
+371.72%
332.14
-63.52%
910.37
+30.17%
699.38
Reconciled Depreciation
93.29
+4.52%
89.25
+7.97%
82.66
+21.82%
67.86
EBIT
1,666.88
+422.68%
318.91
-61.89%
836.77
+57.35%
531.78
Total Unusual Items
193.41
+154.42%
76.02
+739.09%
9.06
+109.08%
-99.74
Total Unusual Items Excluding Goodwill
193.41
+154.42%
76.02
+739.09%
9.06
+109.08%
-99.74
Special Income Charges
172.10
+530.23%
-40.00
-14.84%
-34.83
-186.71%
-12.15
Other Special Charges
-242.25
—
—
—
Restructuring And Mergern Acquisition
-6.13
-115.32%
40.00
+36.99%
29.20
+140.37%
12.15
Write Off
76.28
0.00
-100.00%
5.63
—
Net Income
1,286.65
+3844.96%
32.62
-94.54%
597.60
+75.42%
340.66
Pretax Income
1,664.45
+425.68%
316.63
-62.04%
834.22
+57.66%
529.12
Net Non Operating Interest Income Expense
103.17
-18.40%
126.43
-18.88%
155.86
+312.50%
37.78
Interest Expense Non Operating
2.43
+6.49%
2.28
-10.62%
2.55
-4.31%
2.67
Net Interest Income
103.17
-18.40%
126.43
-18.88%
155.86
+312.50%
37.78
Interest Expense
2.43
+6.49%
2.28
-10.62%
2.55
-4.31%
2.67
Interest Income Non Operating
105.60
-17.96%
128.71
-18.75%
158.41
+291.62%
40.45
Interest Income
105.60
-17.96%
128.71
-18.75%
158.41
+291.62%
40.45
Other Income Expense
218.53
+146.00%
88.83
+286.32%
22.99
+122.93%
-100.26
Other Non Operating Income Expenses
25.11
+96.03%
12.81
-8.07%
13.93
+2784.78%
-0.52
Gain On Sale Of Security
21.31
-81.63%
116.03
+164.34%
43.89
+150.11%
-87.59
Tax Provision
377.80
+33.02%
284.01
+20.03%
236.62
+25.56%
188.46
Tax Rate For Calcs
0.00
+8.10%
0.00
-25.96%
0.00
-20.33%
0.00
Tax Effect Of Unusual Items
43.91
+175.02%
15.96
+521.25%
2.57
+107.24%
-35.51
Net Income Including Noncontrolling Interests
1,286.65
+3844.96%
32.62
-94.54%
597.60
+75.42%
340.66
Net Income From Continuing Operation Net Minority Interest
1,286.65
+3844.96%
32.62
-94.54%
597.60
+75.42%
340.66
Net Income From Continuing And Discontinued Operation
1,286.65
+3844.96%
32.62
-94.54%
597.60
+75.42%
340.66
Net Income Continuous Operations
1,286.65
+3844.96%
32.62
-94.54%
597.60
+75.42%
340.66
Normalized Income
1,137.14
+4243.74%
-27.44
-104.64%
591.11
+45.99%
404.89
Net Income Common Stockholders
1,286.65
+3844.96%
32.62
-94.54%
597.60
+75.42%
340.66
Diluted EPS
6.41
+4173.33%
0.15
-94.34%
2.65
+74.34%
1.52
Basic EPS
6.59
+4018.75%
0.16
-94.01%
2.67
+74.51%
1.53
Basic Average Shares
195.20
-5.75%
207.11
-7.39%
223.63
+0.73%
222.00
Diluted Average Shares
200.70
-4.67%
210.53
-6.82%
225.93
+0.88%
223.96
Diluted NI Availto Com Stockholders
1,286.65
+3844.96%
32.62
-94.54%
597.60
+75.42%
340.66
Line Item Trend 2023-12-31
Total Assets
6,782.11
Current Assets
4,645.40
Cash Cash Equivalents And Short Term Investments
3,656.04
Cash And Cash Equivalents
3,213.38
Other Short Term Investments
442.67
Receivables
743.56
Accounts Receivable
743.56
Inventory
62.97
Prepaid Assets
—
Other Current Assets
182.83
Total Non Current Assets
2,136.70
Net PPE
777.05
Gross PPE
1,046.98
Accumulated Depreciation
-269.93
Properties
0.00
Land And Improvements
10.93
Buildings And Improvements
584.75
Machinery Furniture Equipment
170.99
Construction In Progress
13.54
Other Properties
266.76
Goodwill And Other Intangible Assets
279.14
Goodwill
155.59
Other Intangible Assets
123.55
Investments And Advances
187.72
Long Term Equity Investment
187.72
Non Current Deferred Assets
631.89
Non Current Deferred Taxes Assets
631.89
Other Non Current Assets
260.92
Total Liabilities Net Minority Interest
1,592.27
Current Liabilities
1,240.38
Payables And Accrued Expenses
686.25
Payables
151.90
Accounts Payable
109.60
Current Accrued Expenses
534.35
Pensionand Other Post Retirement Benefit Plans Current
153.35
Total Tax Payable
42.30
Current Debt And Capital Lease Obligation
9.12
Current Capital Lease Obligation
9.12
Other Current Liabilities
111.75
Total Non Current Liabilities Net Minority Interest
351.89
Long Term Debt And Capital Lease Obligation
29.16
Long Term Capital Lease Obligation
29.16
Other Non Current Liabilities
322.73
Stockholders Equity
5,189.84
Common Stock Equity
5,189.84
Capital Stock
0.22
Common Stock
0.22
Preferred Stock
0.00
Share Issued
224.29
Ordinary Shares Number
224.29
Treasury Shares Number
0.00
Additional Paid In Capital
5,016.12
Retained Earnings
160.38
Gains Losses Not Affecting Retained Earnings
13.11
Other Equity Adjustments
13.11
Total Equity Gross Minority Interest
5,189.84
Total Capitalization
5,189.84
Working Capital
3,405.02
Invested Capital
5,189.84
Total Debt
38.29
Capital Lease Obligations
38.29
Net Tangible Assets
4,910.70
Tangible Book Value
4,910.70
Current Provisions
279.91
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
1,413.50
+321.52%
335.34
-32.46%
496.49
-48.81%
969.94
Cash Flow From Continuing Operating Activities
1,413.50
+321.52%
335.34
-32.46%
496.49
-48.81%
969.94
Net Income From Continuing Operations
1,286.65
+3844.96%
32.62
-94.54%
597.60
+75.42%
340.66
Depreciation Amortization Depletion
93.29
+4.52%
89.25
+7.97%
82.66
+21.82%
67.86
Depreciation And Amortization
93.29
+4.52%
89.25
+7.97%
82.66
+21.82%
67.86
Other Non Cash Items
8.73
-18.81%
10.75
-76.71%
46.15
+56.36%
29.52
Stock Based Compensation
249.35
-6.28%
266.06
+23.24%
215.89
+14.58%
188.42
Asset Impairment Charge
76.28
0.00
-100.00%
5.63
—
Deferred Tax
247.69
+389.51%
-85.55
+46.16%
-158.90
-378.32%
57.09
Deferred Income Tax
247.69
+389.51%
-85.55
+46.16%
-158.90
-378.32%
57.09
Operating Gains Losses
-21.31
+81.63%
-116.03
-164.34%
-43.89
-150.11%
87.59
Gain Loss On Investment Securities
-21.31
+81.63%
-116.03
-164.34%
-43.89
-150.11%
87.59
Unrealized Gain Loss On Investment Securities
—
—
-43.89
-150.11%
87.59
Net Foreign Currency Exchange Gain Loss
—
—
—
17.37
Change In Working Capital
-527.16
-481.33%
138.24
+155.60%
-248.65
-225.07%
198.81
Change In Receivables
-170.77
-53.04%
-111.59
-13.08%
-98.68
-245.28%
-28.58
Changes In Account Receivables
-170.77
-53.04%
-111.59
-13.08%
-98.68
-245.28%
-28.58
Change In Inventory
-58.51
+54.16%
-127.63
+24.99%
-170.15
-152.06%
-67.50
Change In Prepaid Assets
-156.24
-1607.35%
10.37
+124.39%
-42.49
-38.23%
-30.74
Change In Payables And Accrued Expense
-141.64
-138.58%
367.10
+485.77%
62.67
-80.75%
325.63
Change In Accrued Expense
-148.20
-153.13%
278.94
+20.95%
230.61
+4.73%
220.20
Change In Payable
6.56
-92.56%
88.16
+152.49%
-167.94
-259.29%
105.44
Change In Account Payable
6.56
-92.56%
88.16
+152.49%
-167.94
-259.29%
105.44
Investing Cash Flow
-102.61
-165.14%
157.52
+175.85%
-207.68
-164.42%
-78.54
Cash Flow From Continuing Investing Activities
-102.61
-165.14%
157.52
+175.85%
-207.68
-164.42%
-78.54
Capital Expenditure
-83.87
+16.27%
-100.16
-110.93%
-47.49
+38.99%
-77.83
Capital Expenditure Reported
-58.87
+31.76%
-86.26
-165.54%
-32.49
+58.26%
-77.83
Net Investment Purchase And Sale
-18.74
-107.27%
257.68
+260.86%
-160.19
-22493.94%
-0.71
Purchase Of Investment
-303.38
-17.42%
-258.37
+44.56%
-466.02
-483.55%
-79.86
Sale Of Investment
284.64
-44.84%
516.05
+68.74%
305.83
+286.39%
79.15
Net Intangibles Purchase And Sale
-25.00
-79.86%
-13.90
+7.33%
-15.00
0.00
Purchase Of Intangibles
-25.00
-79.86%
-13.90
+7.33%
-15.00
0.00
Financing Cash Flow
101.04
+105.00%
-2,021.55
-9991.08%
-20.03
-2423.05%
-0.79
Cash Flow From Continuing Financing Activities
101.04
+105.00%
-2,021.55
-9991.08%
-20.03
-2423.05%
-0.79
Net Issuance Payments Of Debt
-4.54
-19.64%
-3.80
-13.04%
-3.36
-17.40%
-2.86
Repayment Of Debt
-4.54
-19.64%
-3.80
-13.04%
-3.36
-17.40%
-2.86
Long Term Debt Payments
-4.54
-19.64%
-3.80
-13.04%
-3.36
-17.40%
-2.86
Net Long Term Debt Issuance
-4.54
-19.64%
-3.80
-13.04%
-3.36
-17.40%
-2.86
Net Common Stock Issuance
0.00
+100.00%
-2,004.79
0.00
0.00
Common Stock Payments
0.00
+100.00%
-2,004.79
0.00
0.00
Repurchase Of Capital Stock
0.00
+100.00%
-2,004.79
0.00
0.00
Proceeds From Stock Option Exercised
221.76
+349.81%
49.30
+37.57%
35.84
-41.36%
61.12
Net Other Financing Charges
-116.18
-86.60%
-62.26
-18.57%
-52.51
+11.07%
-59.05
Changes In Cash
1,411.93
+192.36%
-1,528.69
-668.76%
268.78
-69.82%
890.61
Effect Of Exchange Rate Changes
-1.71
-158.47%
2.92
+143.78%
-6.68
-298.99%
3.35
Beginning Cash Position
1,689.45
-47.45%
3,215.22
+8.88%
2,953.12
+43.41%
2,059.16
End Cash Position
3,099.67
+83.47%
1,689.45
-47.45%
3,215.22
+8.88%
2,953.12
Free Cash Flow
1,329.63
+465.38%
235.17
-47.62%
449.00
-49.67%
892.11
Interest Paid Supplemental Data
—
—
—
—
Income Tax Paid Supplemental Data
—
373.06
-1.36%
378.21
+177.60%
136.24
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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