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Incyte Corp INCY

Morningstar Rating
$57.12 +0.57 (1.01%)
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Company Report

Incyte's Established Jakafi Market and Launching Dermatology Drug Opzelura Support Narrow Moat

Incyte has build a solid foundation over the past decade with hematology drug Jakafi, and the approval of the same active ingredient as oral dermatology drug Opzelura is expanding the firm's focus to new therapeutic areas. We think the strategy to find more effective combination therapies in hematology and build a larger oncology and dermatology portfolio is solid, although we're waiting for key data before assuming the firm can grow through Jakafi's patent expiration in 2028.

Price vs Fair Value

INCY is trading at a 35% discount.
Price
$57.48
Fair Value
$27.00
Uncertainty
Medium
1-Star Price
$937.90
5-Star Price
$55.20
Economic Moat
Yyzlp
Capital Allocation
Cfyppdw

Bulls Say, Bears Say

Bulls

Incyte's Jakafi is the first FDA-approved treatment for a rare blood disorder known as myelofibrosis, giving it strong pricing power and market penetration.

Bears

Several competing myelofibrosis therapies are entering the market and could eventually upend Incyte's monopoly on the myelofibrosis market.

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News

Trading Information

Previous Close Price
$56.55
Day Range
$56.5057.35
52-Week Range
$50.2776.04
Bid/Ask
$56.51 / $57.12
Market Cap
$12.82 Bil
Volume/Avg
1.7 Mil / 1.7 Mil

Key Statistics

Price/Earnings (Normalized)
16.21
Price/Sales
3.49
Dividend Yield (Trailing)
Dividend Yield (Forward)
Total Yield

Company Profile

Incyte focuses on the discovery and development of small-molecule drugs. The firm's lead drug, Jakafi, treats two types of rare blood cancer and graft versus host disease and is partnered with Novartis. Incyte's other marketed drugs include rheumatoid arthritis treatment Olumiant (licensed to Lilly), and oncology drugs Iclusig (chronic myeloid leukemia), Pemazyre (cholangiocarcinoma), Tabrecta (lung cancer), and Monjuvi (diffuse large B-cell lymphoma). The firm's first dermatology product, Opzelura, was approved in 2021 for atopic dermatitis and 2022 for vitiligo. Incyte's pipeline includes a broad array of oncology and dermatology programs.
Sector
Healthcare
Industry
Biotechnology
Stock Style Box
Mid Core
Total Number of Employees
2,524

Competitors

Valuation

Metric
INCY
ABBV
RHHBY
Price/Earnings (Normalized)
16.2116.2311.50
Price/Book Value
2.4730.745.72
Price/Sales
3.495.893.00
Price/Cash Flow
17.3215.9711.02
Price/Earnings
INCY
ABBV
RHHBY

Financial Strength

Metric
INCY
ABBV
RHHBY
Quick Ratio
3.550.630.99
Current Ratio
3.750.871.35
Interest Coverage
260.453.5714.93
Quick Ratio
INCY
ABBV
RHHBY

Profitability

Metric
INCY
ABBV
RHHBY
Return on Assets (Normalized)
12.82%14.54%17.03%
Return on Equity (Normalized)
16.79%150.11%53.42%
Return on Invested Capital (Normalized)
14.10%28.30%26.30%
Return on Assets
INCY
ABBV
RHHBY
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