INCY

IncyteNASDAQ · Biotechnology · Health Care

Previous close

124.75

Change

+3.01 / +2.47%

FinDog View

Neutral

52-Week Range

81.09 – 132.60

P/E (TTM)

15.3

Forward P/E

18.1

Based on consensus earnings for the next 12 months

Market Cap

$25.3B

+1.01%

S&P 500 −2.41% over same period

Volume / Avg Volume

1.3M / 1.4M

0.95× average

Price History

Closing price · USD1M 6M 1Y 5Y

Historical P/E

Close ÷ trailing four-quarter EPS · Period median 17.81M 6M 1Y 5Y

Recent Earnings

Click to read the FinDog analysis

Period	Reported	Revenue	EPS Actual / Est.	Next-Day Move	Analysis
FY2026 Q2 Quarter ended 2026-06	2026-07-28	$1.7B	3.09 / 2.14	−2.18%	Pending
FY2026 Q1 Quarter ended 2026-03	2026-04-28	$1.3B	1.81 / 1.40	+1.39%	Pending
FY2025 Q4 Quarter ended 2025-12	2026-02-10	—	— / —	−1.21%	Pending
FY2025 Q3 Quarter ended 2025-09	2025-10-28	—	— / —	−1.60%	Pending
FY2025 Q2 Quarter ended 2025-06	2025-07-29	—	— / —	+0.23%	Pending
FY2025 Q1 Quarter ended 2025-03	2025-04-29	—	— / —	+3.69%	Pending

Decision Panel

Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market data

Valuation

P/E is at percentile 8 of its 5-year rangeCheap

5-year range 14.8 – 503.9 · Median 30.3

Last 4 quarters: $0 in buybacks + $0 in dividends, 0.00% of market cap combined

P/E (TTM)

15.3

P/B

3.9

P/S

4.2

PEG

1.22

Earnings Reaction

Over the last 6 reports, the stock moved ±1.7% on average on the first trading day after, rising 3 times

Most recent −2.18%

Insider Trading

View all →

Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions

Buy 0 · $0.00MSell 10 · $15.4MNet selling $15.4M

08-19CAGNONI PABLO JPresident, Global Head of R&DSell$1.4M10,801 shares · Avg price 125.56
08-12CAGNONI PABLO JPresident, Global Head of R&DSell$1.3M10,803 shares · Avg price 120.04
08-05Mayes Patrick AEVP & Chief Scientific OfficerSell$0.27M2,207 shares · Avg price 123.99
08-05CAGNONI PABLO JPresident, Global Head of R&DSell$1.3M10,640 shares · Avg price 122.69
08-03Mayes Patrick AEVP & Chief Scientific OfficerSell$0.73M6,055 shares · Avg price 120.43
07-31Mayes Patrick AEVP & Chief Scientific OfficerSell$5.0M41,899 shares · 11 trades · Avg price 119.46
07-31CAGNONI PABLO JPresident, Global Head of R&DSell$1.9M15,888 shares · Avg price 119.70
07-16Issa Mohamed KhairieEVP, Head of U.S. CommercialSell$0.13M1,093 shares · Avg price 115.01

Multi-Quarter Financial Trends

View all quarters →

Last 12 quarters · As reported by the company

Quarter	Revenue ($B)	YoY	Gross Margin	Operating Income ($B)	Net Income ($B)	Free Cash Flow ($B)	EPS
FY2026 Q1	1.27	+20.9%	91.8%	0.30	0.30	0.37	1.47
FY2025 Q4	1.51	+27.8%	92.0%	0.34	0.30	0.54	1.46
FY2025 Q3	1.37	+20.0%	92.8%	0.44	0.42	0.56	2.11
FY2025 Q2	1.22	+16.5%	93.5%	0.53	0.40	0.04	2.04
FY2025 Q1	1.05	+19.5%	93.0%	0.21	0.16	0.27	0.80
FY2024 Q4	1.18	+16.3%	92.5%	0.30	0.20	0.38	0.90
FY2024 Q3	1.14	+23.8%	92.4%	0.15	0.11	0.31	0.54
FY2024 Q2	1.04	+9.3%	92.7%	-0.48	-0.44	-0.58	-2.04
FY2024 Q1	0.88	+8.9%	93.1%	0.09	0.17	0.22	0.75
FY2023 Q4	1.01	+9.3%	93.1%	0.19	0.20	0.15	0.89
FY2023 Q3	0.92	+11.6%	93.5%	0.21	0.17	0.15	0.76
FY2023 Q2	0.95	+4.7%	92.8%	0.19	0.20	0.31	0.90

Peers

Largest by market cap in the sector · Latest quarterView Health Care sector →

Ticker	Company	Market Cap	P/E	Revenue YoY	Gross Margin	1M	View
INCY	Incyte	$25.3B	15.3	+20.9%	91.8%	+1.01%	Neutral
LLY	Lilly (Eli)	$1.07T	39.9	+47.7%	85.8%	−3.83%	Bullish	Compare
JNJ	Johnson & Johnson	$644B	30.6	+6.6%	68.2%	+1.87%	Bullish	Compare
ABBV	AbbVie	$464B	73.7	+10.2%	74.7%	+4.87%	Neutral	Compare
MRK	Merck & Co.	$358B	112.2	+5.1%	73.5%	+6.57%	Neutral	Compare
UNH	UnitedHealth Group	$337B	23.9	+0.4%	88.1%	−5.15%	Neutral	Compare
TMO	Thermo Fisher Scientific	$240B	34.4	+10.5%	—	+10.75%	Bullish	Compare
AMGN	Amgen	$203B	23.3	+9.5%	72.0%	−10.26%	Neutral	Compare
GILD	Gilead Sciences	$183B	—	+10.2%	79.8%	+6.31%	Neutral	Compare

The View in One Line

FY2026 Q1 revenue $1.27 billion, gross margin 91.8% extremely high, but YoY and EPS missing; stock up 2.47% in a single day but only 1.01% for the month, direction unclear.

Updated 2026-09-16

Notable Institutional Holders

Renaissance Technologies$398MReduced −4%
Bridgewater Associates · Ray Dalio$19.1MAdded +29%
Citadel Advisors · Ken Griffin$16.3MAdded +191%

As of 2026-06-30

Key Events

08-31Legal & Regulatory
Incyte Reaches Drug Pricing Agreement with CMS
Incyte signed an agreement with CMS allowing state Medicaid programs to obtain Jakafi and Jakafi XR at prices benchmarked to developed countries, and exempting them from certain future pricing mandates.Source ↗
07-06M&A / Contracts
Incyte completes acquisition of Vega Therapeutics
On July 6, 2026, Incyte announced the completion of its previously disclosed acquisition of Vega Therapeutics, a wholly owned subsidiary of Star Therapeutics.Source ↗
06-22Legal & Regulatory
Incyte Settles Opzelura Rebate Lawsuit with CMS
Incyte settled its lawsuit with CMS over Medicare rebate rules for Opzelura and expects to record a one-time non-cash gain of about $246 million in Q2.Source ↗
06-09Governance
Incyte Annual Meeting Completes Director Elections and Auditor Ratification
At its June 8, 2026 annual meeting, shareholders elected 8 directors, approved executive compensation, and ratified Ernst & Young as auditor for fiscal 2026.Source ↗
06-08M&A / Contracts
Incyte Agrees to Acquire Vega Therapeutics
On June 8, 2026, Incyte announced a definitive agreement to acquire Vega Therapeutics, a wholly owned subsidiary of Star Therapeutics.Source ↗
03-30Management Change
Director Susanne Schaffert to Resign April 15
On March 26, 2026, Susanne Schaffert notified Incyte that she will resign from the board effective April 15, not due to any disagreement with the company.Source ↗
03-26Management Change
Incyte Adjusts Several Executive Titles, Cagnoni Named President
Effective March 25, 2026, Pablo J. Cagnoni became Incyte President and Head of Global R&D, Meury remains CEO; Stein and Issa also had title changes, with compensation unchanged.Source ↗

Key Financial Trends

Quarterly Revenue ($B)1.3

Gross Margin91.8%

Free Cash Flow ($B)0.4