Incyte Corp

INCY: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Incyte Earnings: Maintaining Our $88 Fair Value Estimate on Strong Jakafi Demand, Opzelura Expansion

Karen Andersen , Luke Yang

Oct 30, 2024

Narrow-moat Incyte reported robust third-quarter results in line with our expectations. We are maintaining our $88 fair value estimate and continue to think that the market is underappreciating the firm's potential to grow past Jakafi's patent expiration in 2028. Despite the stock's 12% rally today, we view Incyte's shares as moderately undervalued.

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Incyte Corp

Incyte Earnings: Maintaining Our $88 Fair Value Estimate on Strong Jakafi Demand, Opzelura Expansion

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