Incyte (NASDAQ:INCY) Releases Earnings Results, Misses Estimates By $0.16 EPS

Incyte (NASDAQ:INCY) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.16), FiscalAI reports. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. The business’s revenue for the quarter was up 27.8% on a year-over-year basis.

Here are the key takeaways from Incyte’s conference call:

• Incyte reported strong 2025 results with total revenue of $5.14B and core business ex-Jakafi up 53%, and set 2026 revenue guidance of $4.77B–$4.94B (≈10%–13% growth).
• The pipeline materially matured in 2025 and will be catalyst-rich in 2026 — management expects 14 pivotal trials across 7 assets by year-end and multiple potential approvals/launches in late‑2026/early‑2027.
• Opzelura showed rapid commercial growth (FY sales up ~33%, pediatric AD launch annualizing ≈$30M, international vitiligo doubled to $130M), but development in prurigo nodularis is paused after mixed phase‑3 results requiring a potential additional trial.
• Hematology/oncology momentum is driving results — H&O sales rose 83% in 2025 led by Niktimvo and Monjuvi, with 2026 H&O guidance of $800M–$880M and an sBLA planned for Monjuvi in frontline DLBCL.

Incyte Price Performance

Shares of NASDAQ INCY opened at $100.05 on Wednesday. The company has a quick ratio of 3.13, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. Incyte has a fifty-two week low of $53.56 and a fifty-two week high of $112.29. The business has a 50 day moving average price of $101.80 and a two-hundred day moving average price of $93.78. The firm has a market cap of $19.64 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 0.65 and a beta of 0.82.

More Incyte News

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: H.C. Wainwright reiterated a Buy rating with a $135 price target, citing long-term revenue durability and an underappreciated pipeline, which supports upside potential if pipeline assets progress. Incyte: Long-Term Revenue Durability and Underappreciated Pipeline Support Buy Rating and $135 Target
• Neutral Sentiment: Top-line strength: Q4 revenue of ~$1.51B beat consensus (~$1.35B) and rose ~28% YoY, driven by Jakafi and Opzelura product sales — a positive operating signal even as EPS missed. Earnings Release / Slides
• Neutral Sentiment: Company commentary and the earnings call highlighted pipeline progress and strategic focus beyond Jakafi, which could mitigate long-term risk if clinical readouts are favorable. Earnings Call Highlights
• Negative Sentiment: EPS miss: Q4 EPS $1.80 vs. consensus ~$1.96, which, together with a softer 2026 revenue forecast, pressured sentiment and valuations. Zacks: INCY Q4 Earnings Miss
• Negative Sentiment: Guidance and Jakafi risk: Management’s weak 2026 revenue outlook and commentary that Opzelura may underperform heightens concerns about replacing revenue when Jakafi faces patent expiry/generic competition. This is the main driver of today’s selloff. Reuters: Weak 2026 Forecast
• Neutral Sentiment: Market/coverage notes and transcripts are available (Seeking Alpha, Yahoo) for investors wanting the full call and management commentary to model 2026 scenarios. Earnings Call Transcript Press Release
• Neutral Sentiment: Short-interest data reported appears anomalous (zeros) and is unlikely to explain intra-day moves; focus remains on guidance and product dynamics.

Insiders Place Their Bets

In related news, insider Thomas Tray sold 2,774 shares of Incyte stock in a transaction on Friday, December 19th. The shares were sold at an average price of $100.00, for a total value of $277,400.00. Following the completion of the sale, the insider owned 22,973 shares in the company, valued at approximately $2,297,300. The trade was a 10.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven H. Stein sold 20,105 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the completion of the sale, the executive vice president directly owned 63,129 shares in the company, valued at $6,471,353.79. This represents a 24.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 95,225 shares of company stock valued at $9,519,745. Corporate insiders own 17.80% of the company’s stock.

Institutional Investors Weigh In On Incyte

A number of institutional investors have recently modified their holdings of INCY. Vise Technologies Inc. acquired a new position in Incyte in the fourth quarter worth about $295,000. Cibc World Market Inc. bought a new position in Incyte during the 4th quarter worth approximately $1,279,000. CIBC Private Wealth Group LLC grew its position in shares of Incyte by 153.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 726 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 440 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Incyte in the 3rd quarter valued at approximately $1,921,000. Finally, Captrust Financial Advisors increased its holdings in shares of Incyte by 35.7% in the 3rd quarter. Captrust Financial Advisors now owns 46,768 shares of the biopharmaceutical company’s stock valued at $3,966,000 after acquiring an additional 12,301 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on INCY shares. Stifel Nicolaus set a $119.00 price objective on shares of Incyte in a research note on Monday, January 5th. Zacks Research cut shares of Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $107.00 price target (down from $116.00) on shares of Incyte in a report on Tuesday, January 20th. Mizuho set a $121.00 price objective on Incyte and gave the stock an “outperform” rating in a research note on Monday, December 8th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Incyte in a research report on Tuesday, January 13th. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $103.29.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.