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INCY

IncyteB
Nasdaq / Pharmaceuticals, Biotechnology & Life Sciences
Last Price
Quote time unavailable
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Current thesis
Broad-based commercial growth, raised 2026 sales guidance, improving Opzelura economics, a dated second-half clinical calendar, and $4.5 billion of cash and marketable securities support a constructive medium-term setup. The latarcibart acquisition adds a Phase 3 hematology asset, but its clinical validation remains ahead.
Posture
Constructive
Lead driver
Sentiment
What changed
6 setup hits (3d) with net bullish as of 2026-09-07.
What can break
Approximately $1.27 billion of Vega-related IPR&D expense is expected in Q3 2026, with higher ongoing R&D spending for latarcibart.
Momentum
56
Value
68
Sentiment
65
Setup hits (3d)
6 · Net Bullish
AI TargetsBase $128.00 · Bull $145.00 · Bear $102.00Analysis 2026-08-10; returns require an exact persisted reference.
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-08-17 • Vendor: Data Vendor v1
Scores
As of 2026-09-09 • Model: HYBRID_IC_RP
AI Memo
As of 2026-08-10 • Model: RankAlpha Sentiment Codex
Investment thesis
As of 2026-09-09

Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-09-09. Definitions

Supporting evidence
What
Grade B · Constructive
Confidence Medium · Net Bullish
Target $128.91
Why
Momentum56 · Δ7d +11.2
Value68 · Δ7d 0.0
Sentiment65 · Δ7d +6.8
So what
Strength-led posture (Net Bullish). Favor watchlist adds and disciplined entries.

Confirming evidence

  • • 6 setup hits (3d) with net bullish as of 2026-09-07.
  • • Sentiment remains the lead driver in the composite, 7D delta +6.8.

Contradictions & invalidation

  • • Approximately $1.27 billion of Vega-related IPR&D expense is expected in Q3 2026, with higher ongoing R&D spending for latarcibart.
  • • Clinical and regulatory outcomes across the 2026 readout calendar could disappoint or be delayed.
  • • Q2 reported growth was partly driven by a one-time $246 million Opzelura accounting benefit.

Catalyst clock

2026-07-28

Q2 beat-and-raise supports near-term sentiment

Lead driver: Sentiment · See AI snapshot
Momentum
56
9% active weight
Current posture
7d trendImproving
Δ7d
+11.2
Δ21d
-17.0
Value
68
28% active weight
Current posture
7d trendFlat
Δ7d
0.0
Δ21d
+2.4
Sentiment
65
62% active weight
Current posture
7d trendImproving
Δ7d
+6.8
Δ21d
+1.0
Why this grade

Composite grade B. Momentum 55.8 / Value 67.9 / Sentiment 64.6

Scenario snapshot

Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-08-10. Scenario method

B+
Bull case
25%
Probability
Target price
$145.00
Analysis reference price unavailable
Analysis 2026-08-10 · RankAlpha Sentiment Codex
Most likely
B
Base case
55%
Probability
Target price
$128.00
Analysis reference price unavailable
Analysis 2026-08-10 · RankAlpha Sentiment Codex
B-
Bear case
20%
Probability
Target price
$102.00
Analysis reference price unavailable
Analysis 2026-08-10 · RankAlpha Sentiment Codex
Fundamentals (TTM)
As of 2026-08-17
Market Cap
$25.03B
Beta
0.83
Shares Out
202.7M
P/E (TTM)
17.2
P/S (TTM)
4.15
P/FCF (TTM)
16.69
Rev YoY
+37.7%
EPS YoY
+38.0%
Gross Margin
+91.4%
Op Margin
+31.6%
Net Debt
-$3.53B
Current Ratio
4.59
As of 2026-09-09 • Updated nightlySource: Internal modelMethods & Data