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ININCY

Incyte Corporation

$INCY·$23B·Biotechnology·Healthcare
$116.86+2.7%YTD+15.8%1Y+65.6%
Mentions · last 7 days
2026-06-24: 15 posts2026-06-25: 3 posts2026-06-26: 28 posts2026-06-27: 7 posts2026-06-28: 14 posts2026-06-29: 13 posts2026-06-30: 5 posts85
Price updated 35m ago·X counts updated 2d ago
ININCY
$INCYIncyte Corporation
$116.86+2.68%85 posts
AI analysisFundamentalsVoices on X
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AI verdict & sentimentAI analysisGenerated by AI from underlying data

Top X posts

Today's AI verdict on what's driving $INCY, plus how loud the X conversation is and which way it's leaning.

AI analysis

TickerTalks’ read on the fundamentals and what’s driving the move.

Proven numbersAcceleratingAI verdict · as of 2026-07-01

The move is getting stronger, with heavier trading behind it.

Incyte at fresh 52-week highs as Opzelura scales and Jakafi patent cliff proves less severe than the market feared.

Incyte is a specialty biotech with two core commercial franchises: Jakafi (ruxolitinib) for myelofibrosis and Opzelura (topical ruxolitinib) for atopic dermatitis / vitiligo. Its stock has quietly broken to fresh 52-week highs as the Opzelura ramp offsets the Jakafi patent cliff narrative.

Where it stands:

  • The operating engine is genuinely accelerating: Q1 revenue grew 21% year-over-year to $1.27B with operating margin at 27% and EPS of $1.52 — Q4 grew 28% with same operating margin, so this is a specialty biotech at scale still growing 20%+ with software-like margins.
  • The Opzelura regulatory updates are the specific catalyst: the recent 52-week high was tied to Opzelura regulatory updates, and Incyte just resolved a Medicaid rebate line-extensions lawsuit with CMS on June 22 — that removes a specific overhang and clarifies the pricing path for the specialty franchise going forward.
  • The valuation is unusually reasonable for a biotech at 20%+ growth: trailing P/E of 15.5x with 29% ROE, 92% gross margin, 6.4% free-cash-flow yield — that's a growth-plus-cash-flow setup at a mid-teens multiple that competes favorably with any specialty biotech in the peer group.

Path if it works: August 4 Q2 earnings confirms Opzelura revenue above $200M plus firm Jakafi-post-LOE (loss of exclusivity) commentary, and the tape extends into the $130+ zone. Risk: any competitive JAK inhibitor share loss, a Jakafi LOE erosion faster than modeled, or a specialty-derm reimbursement setback — those three are what break the current run at 96% of 52-week range.

What to watch: August 4 Q2 earnings — Opzelura revenue above $200M plus firm Jakafi-post-LOE commentary keeps the run; any competitive JAK inhibitor share loss or a specialty-derm reimbursement setback is the invalidator.

On the calendar: 2026-08-04 — Q2 2026 earnings

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What it does

Plain-English summary of the business — what they sell and how they make money.

Biopharma marketing JAKAFI for myelofibrosis and polycythemia vera, PEMAZYRE for FGFR-driven cancers, and a broad oncology and inflammation pipeline.

Industry overviewAI analysisGenerated by AI from underlying data

Where Biotechnology sits in its cycle right now — and what that implies for $INCY.

Biotechnology · Healthcare

GLP-1 pipeline competition is the dominant structural driver — the ADA conference crystallized oral formulations, dual agonists, and differentiated mechanisms competing for a potential $150B obesity market by 2030. QURE's FDA accelerated approval for AMT-130 (Huntington's disease) this week confirms gene therapy regulatory momentum is still flowing capital to non-GLP-1 precision medicine.

Top industry ETF

$IBBiShares Biotechnology ETF
+12.1%YTD
+49.0%1Y

Fundamentals & catalyst

Profitability, valuation, and the next earnings event — at a glance, with rule-of-thumb signals.

Key ratios

P/E
15.5How much investors are paying per dollar of profit the company actually earned in the last 12 months. Lower means the stock looks cheaper relative to earnings.~15–25 is typical for the S&P 500; high-growth names trade 30+; hyper-growth or speculative can be 100+ or negative.
ROIC
20.1%What percentage return the business earns on every dollar of capital (equity + debt) deployed in operations. The cleanest measure of business quality.Above ~15% is high-quality; consistently above 25% suggests a real moat. Below the company's cost of capital is value-destroying.
Op margin
27.1%Operating profit (after sales, marketing, R&D, and overhead but before interest and taxes) as a percentage of revenue. The clearest view of how well the underlying business is run.Mature business above 20% is healthy; software businesses can run 30%+; commodity / retail businesses operate in single digits.
FCF yield
6.4%Free cash flow (operating cash flow minus capex) divided by the company's market cap. The cash-on-cash return you'd get owning the whole business at today's price.Above ~5% is attractive; below ~2% means you're paying up for growth. Capital-light businesses (software) run higher than capital-heavy ones (utilities).
P/S
4.2Same idea as P/E but per dollar of revenue. Useful for companies that aren't profitable yet, where P/E is meaningless.Under ~2 is cheap; software / SaaS often runs 8–15; well above 20 implies the market is pricing in very high future growth.
ROE
29.3%Net income as a percentage of shareholders' equity. Similar to ROIC but counts only the equity side.Above 20% is strong, but can be inflated by leverage — a heavily indebted company can show high ROE with weak underlying ROIC.
Gross margin
92.5%Revenue minus the direct cost of producing what was sold, as a percentage of revenue. The first read on whether the product is structurally profitable.Software / SaaS is typically 70%+; consumer goods 30–50%; commodity / hardware businesses can be under 20%.
D/E
0.0Total debt divided by shareholders' equity. Measures how much the business runs on borrowed money versus owner capital.Under 1 is conservative; 1–2 is typical for mature businesses; over 2 is leveraged and more sensitive to interest rates.

Past earnings

QuarterReportedActualEstimateSurprise
Q1 2026Apr 28, 2026$1.81$1.38+31.2%
Q4 2025Feb 10, 2026$1.80$1.90-5.3%
Q3 2025Oct 28, 2025$2.26$1.66+36.1%
Q2 2025Jul 29, 2025$1.57$1.39+12.9%
Next earningsTue, Aug 4·consensus EPS $1.90

Quarterly trend

QuarterRevenueYoYGrossOpEPSFCF
Q1 FY26$1.3B+20.9%91.8%25.5%$1.52$359.2M
Q4 FY25$1.5B+27.8%92.0%25.5%$1.52$521.4M
Q3 FY25$1.4B+20.0%92.8%31.6%$2.17$544.6M
Q2 FY25$1.2B+16.5%93.5%25.6%$2.09$25.7M

Forward consensus

5-year forecast · up to 14 analysts
FYRevenueRangeEPSRangeAnalysts
FY26$5.6B$5.6B – $5.8B$7.58$6.79 – $7.9813
FY27$6.2B$5.8B – $6.6B$8.91$8.14 – $10.1314
FY28$6.5B$6.5B – $6.5B$9.47$7.65 – $11.7713
FY29$4.6B$4.5B – $4.9B$3.71$3.55 – $3.9912
FY30$4.8B$4.7B – $5.1B$4.15$3.98 – $4.476

Setup & momentum

Volume, range, and moving-average position — the technical setup driving short-term moves.

Right now

Vol vs 30dToday's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.0.8×Today's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.
52w rangeWhere the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.96%Where the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.
vs 50d MALatest close vs the 50-day simple moving average. Positive = short-term trend is up.+13.5%Latest close vs the 50-day simple moving average. Positive = short-term trend is up.
vs 200d MALatest close vs the 200-day simple moving average. Positive = long-term trend is up.+16.4%Latest close vs the 200-day simple moving average. Positive = long-term trend is up.

Float & profile

FloatMid float · 197.9M shFree-float shares — the slice of issued stock actually available to trade. Lower buckets squeeze harder on a catalyst.Traded today0.8% of floatToday's volume as a percent of the free float. Above 5% on a single day is unusually high turnover for the available share count.β0.795-year weekly beta vs the S&P 500. Above 1.5 means the stock typically moves more than the index; below 0.8 moves less.

Insider activity

Recent open-market buys and sells by officers and directors — flagged when multiple insiders cluster.

Recent transactions

SellJun 4Thomas TrayPrincipal Accounting Officer2.6K sh$264KSellMay 26Thomas TrayPrincipal Accounting Officer2.1K sh$200KSellMay 19Paul J ClancyDirector15.0K sh$1.4MSellApr 17Pablo J CagnoniPresident18.7K sh$1.8MSellMar 17Pablo J CagnoniPresident18.7K sh$1.8M
+ 24 other (15 awards · 7 exempts · 2 inkinds) in window

See when $INCY insiders are putting their own money in

  • Real-time open-market buys and sells from Form 4 filings
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SEC filings

Material 8-K, 13D, S-3, and 424B5 events from the last 180 days — the filings that actually move the price.

Recent material filings

8-KShareholder voteJun 98-K — Item 5.07: Shareholder vote
AI summary

Incyte Corporation held its 2026 Annual Meeting of Shareholders on June 8, 2026; eight directors were elected including Julian C. Baker (140.3M for, 33.2M withheld — notable opposition), Jean-Jacques Bienaimé (146.7M for), and others; executive compensation was approved on an advisory basis with 145.9M for and 28.1M against. Julian Baker's high withhold vote and the 28.1M executive compensation opposition signal meaningful investor dissatisfaction at Incyte.

SC 13D/AActivist amendmentMay 11SC 13D/A
AI summary

Baker Bros. Advisors LP filed the 33rd amendment to its Schedule 13D disclosing beneficial ownership of 30,865,077 shares (15.4%) of Incyte Corporation (INCY) as of May 7, 2026. Julian C. Baker, a principal of Baker Bros., separately reports beneficial ownership of 31,223,155 shares, also representing approximately 15.4% on a combined basis. Baker Bros. is a long-term biotech-focused investment manager that has maintained a significant long-term position in Incyte. The 33rd amendment reflects a routine update to the firm's beneficial ownership position in the oncology-focused biopharmaceutical company.

3New insider — initial holdingsMay 63
AI summary

Suketu Upadhyay, Executive Vice President and Chief Financial Officer of Incyte Corporation, filed an initial Form 3 statement of beneficial ownership as required under Section 16(a) of the Exchange Act, with an event date of May 4, 2026. No securities were reported as beneficially owned at the time of filing. This is a routine initial Section 16 compliance filing for a newly appointed senior executive at Incyte, the oncology-focused biopharmaceutical company known for its JAK inhibitor ruxolitinib (Jakafi).

8-KOfficer or director changeMar 308-K — Item 5.02: Officer or director change
8-KOfficer or director changeMar 268-K — Item 5.02: Officer or director change
SC 13D/AActivist amendmentFeb 10SC 13D/A
+ 14 other (3 routine 8-Ks · 3 proxys · 3 13Gs · 2 earnings 8-Ks) in window

Recent news

Latest headlines from major outlets, sourced and timestamped — context for whatever just moved.

INCY Stock Hits 52-Week High on Regulatory Updates for Opzelurazacks.com·3d agoIncyte (INCY) Surges 5.8%: Is This an Indication of Further Gains?zacks.com·3d agoIncyte: New Catalysts Support Another Leg Higherseekingalpha.com·4d agoIncyte Announces Positive CHMP Opinion for Opzelura® (ruxolitinib) Cream for the Treatment of Adults with Moderate Atopic Dermatitisgurufocus.com·7d agoIncyte Announces Positive CHMP Opinion for Opzelura® (ruxolitinib) Cream for the Treatment of Adults with Moderate Atopic Dermatitisbusinesswire.com·7d ago

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