Incyte Corporation (INCY) Fair Value & Analysis
Healthcare · US · Market cap $23.3B
Incyte Corporation
INCY · US
Fair value as of: Jul 13, 2026
From 26 valuation models · updated 25 days ago
Fair value updated Jul 13, 2026, revised from $116.40 to $115.79 (−0.5%) since Jun 24, 2026. Share price +0.3% over the past month.
A strong business, currently priced close to our fair value.
What matters now
- The model range is unusually wide ($90.63 to $388.98). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.
How to read this chart
60‑month range $51.18 – $129.93 · fair‑value band $90.63 – $388.98 · the $118.38 price screens above the $115.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.
Analysis
Incyte Corporation (INCY) currently trades at $118.38, while our model-based Fair Value estimate is $115.79, implying the stock looks roughly 2.2% fairly valued today. We read business quality at 89/100 (high quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Incyte Corporation generated revenue of $5.4B at a net margin of 26.7%. Revenue grew 20.9% year over year. It earns a return on equity of 30.8%. The balance sheet holds a net cash position of $3.0B. Fundamentals as of Jul 13, 2026
Our scenario range runs from $90.63 (bear case) to $388.98 (bull case); at $118.38, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 77% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -2%, INCY screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings ($290.46) versus Dividend Discount ($2.12). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 88 · Market factors (momentum, volatility) 80
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics in the United States, Europe, Canada, and Japan.
Full company description
Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics in the United States, Europe, Canada, and Japan. The company offers JAKAFI for the treatment of myelofibrosis (MF), polycythemia vera, and steroid-refractory acute graft-versus-host disease; ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; MONJUVI/ MINJUVI for the treatment of diffuse large B-cell lymphoma and Follicular Lymphoma; NIKTIMVO for the treatment of chronic graft-versus-host disease. It also provides INCA033989 for the treatment of essential thrombocythemia and MF; INCA035784 for the treatment of anti-mutant calreticulin and myeloproliferative neoplasms (MPNs); INCB160058 for the treatment of MPNs; PEMAZYRE, a selective fibroblast growth factor receptor kinase inhibitor for the treatment of unresectable biliary tract cancer, metastatic cholangiocarcinoma, and myeloid/lymphoid neoplasms; ZYNYZ to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma. The company's clinical stage products include INCB123667 for ovarian cancer; INCB161734 for solid tumors; INCA33890 for cancers; Ruxolitinib cream for atopic dermatitis, hidradenitis suppurativa (HS), and prurigo nodularis; Povorcitinib for HS, nonsegmental vitiligo, prurigo nodularis, and asthma; and INCB00928 for the treatment of fibrodysplasia ossificans progressive. It has collaboration and license agreement with Novartis, Lilly, and Syndax. The company sells its products to specialty and retail pharmacies, hospital pharmacies, and distributors. The company was formerly known as Incyte Genomics Inc and changed its name to Incyte Corporation in March 2003. Incyte Corporation was incorporated in 1991 and is headquartered in Wilmington, Delaware.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Incyte Corporation reported revenue of $5.1B in FY2025 versus $3.0B in FY2021, a compound +14.5%/yr. Reported net income was $1.3B in FY2025, compounding +7.9%/yr from FY2021.
Watch INCY: get an alert when its fair value changes →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- REGN or INCY: Which Is the Better Value Stock Right Now?
- Incyte (INCY) Won EU Approval For Opzelura, Has The Market Already Priced It In?
- Incyte (INCY) Stock Trades Reasonable On Earnings While Returns Look Strong
- European Opzelura Approval in Atopic Dermatitis Could Be A Game Changer For Incyte (INCY)
Peer Group
Biotechnology · 606 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Biotechnology median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vertex Pharmaceuticals Incorporated VRTX | $486.03 | $278.78 | -43% |
| Regeneron Pharmaceuticals, Inc REGN | $664.45 | $594.40 | -11% |
| Samsung Biologics Co 207940 | 1,368,000 KRW | 1,091,384 KRW | -20% |
| Celltrion, Inc 068270 | 175,800 KRW | 76,325 KRW | -57% |
| WuXi Biologics (Cayman) Inc 2269 | HK$39.54 | HK$30.42 | -23% |
| Innovent Biologics, Inc 1801 | HK$86.70 | HK$19.66 | -77% |
| Sino Biopharmaceutical Limited 1177 | HK$5.26 | HK$3.36 | -36% |
| ALTEOGEN Inc 196170 | 276,500 KRW | 44,444 KRW | -84% |
| RemeGen Co 688331 | ¥134.02 | ¥26.99 | -80% |
| Biocon Limited BIOCON | ₹440.70 | ₹57.36 | -87% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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