INCY

Incyte Corporation INCY is scheduled to report third-quarter 2026 earnings on Oct. 29, before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter's revenues is pegged at $1.48 billion, while the same for the bottom line is pinned at a loss of $3.50 per share. Let us look at how things are likely to have shaped up for INCY in the to-be-reported quarter. Incyte primarily derives product revenues from the sales of its lead drug, Jakafi (ruxolitinib), in the United States, as well as from the sales of other marketed drugs. Its momentum is likely to have continued on the back of strong Jakafi sales, a first-in-class, selective JAK1/JAK2 inhibitor, across all approved indications (polycythemia vera, myelofibrosis and refractory acute graft-versus-host disease [GvHD]). The Zacks Consensus Estimate for Jakafi's third-quarter sales is pegged at $827 million. Incyte also earns product royalty revenues from Novartis NVS for the commercialization of Jakafi in ex-U.S. markets. While Incyte markets Jakafi in the United States, Novartis markets the same drug as Jakavi outside the United States. INCY is expected to have received higher royalties from NVS in the to-be-reported quarter due to potentially higher Jakavi sales. Year to date, Incyte shares have gained 18.4% compared with the industry's 6.7% growth. Image Source: Zacks Investment Research Incyte also receives royalties from the sales of Tabrecta (capmatinib), which is approved for treating adult patients with metastatic non-small cell lung cancer. Novartis has exclusive worldwide development and commercialization rights to Tabrecta. In the to-be-reported quarter, Opzelura (ruxolitinib cream) sales are expected to have been driven by continued growth in patient starts and refills in the United States for its two approved indications: atopic dermatitis and vitiligo. The European Union (EU) approval of Opzelura for moderate atopic dermatitis is expected to support Incyte's sales growth in the coming quarters by expanding the drug's addressable market beyond its existing European vitiligo indication. The CMS settlement is expected to support Opzelura's net sales in the second half of 2026, with Incyte estimating a combined $40-$50 million benefit in the third and fourth quarters from improved gross-to-net performance. The Zacks Consensus Estimate for Opzelura's third-quarter sales is pegged at $230 million. While Jakafi's sales and royalties are the key catalysts for Incyte's revenue growth, sales of other drugs like Minjuvi, Pemazyre and Iclusig, and Olumiant's royalties from Eli Lilly LLY are also likely to have contributed to Incyte's top line. INCY has a collaboration agreement with LLY for Olumiant. The drug is a once-daily oral JAK inhibitor discovered by Incyte and licensed to LLY. It is approved for several types of autoimmune diseases. Incyte acquired exclusive global rights to Monjuvi/Minjuvi (tafasitamab), initially approved for the treatment of relapsed or refractory diffuse large B-cell lymphoma, from MorphoSys in 2024. Last year, the FDA approved Monjuvi for relapsed or refractory follicular lymphoma, expanding its label and boosting sales. Minjuvi also secured approvals for this indication in the EU and Japan in 2025. The Zacks Consensus Estimate for Iclusig, Minjuvi/Monjuvi and Pemazyre's third-quarter sales is pegged at $35.2 million, $55 million and $23.5 million, respectively. Incremental sales from Zynyz are also expected to have contributed to Incyte's revenues in the to-be-reported quarter. Incyte and partner Syndax launched Niktimvo (axatilimab-csfr) in the United States in early 2025 after FDA approval for chronic graft-versus-host disease (cGvHD) patients who have failed at least two prior systemic therapies. Niktimvo is Incyte's second approved treatment for cGvHD (third-line). The Zacks Consensus Estimate for Niktimvo's third-quarter sales is pegged at $64 million. Incyte granted Mirum Pharmaceuticals worldwide rights to Atebrioz (zilurgisertib) in April 2026. Following its FDA approval for fibrodysplasia ossificans progressiva, the drug is expected to launch this month. Incyte is eligible for milestone payments and royalties on global sales. Investors will look for updates on the launch and potential revenue contribution during the upcoming earnings call. Higher research and development (R&D) expenses, as well as increased selling, general and administrative (SG&A) costs, are likely to have escalated operating expenses in the third quarter of 2026. Incyte Corporation price-consensus-chart | Incyte Corporation Quote Incyte has a mixed history of earnings surprises. The company beat earnings estimates in three of the trailing four quarters and missed in the remaining one, delivering an average surprise of 28.65%. In the last reported quarter, INCY posted an earnings surprise of 54.50%. Our proven model does not conclusively predict an earnings beat for INCY this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. INCY's Earnings ESP: Incyte's Earnings ESP is -11.02% as the Most Accurate Estimate stands at a loss of $3.89, higher than the Zacks Consensus Estimate for a loss of $3.50. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. INCY's Zacks Rank: INCY has a Zacks Rank #4 (Sell) at present. Here is a stock worth considering from the healthcare space, as our model shows that this has the right combination of elements to beat on earnings this reporting cycle. Halozyme Therapeutics HALO has an Earnings ESP of +2.78% and currently flaunts a Zacks Rank #1 at present. You can see the complete list of today's Zacks #1 Rank stocks here. HALO shares have gained 85.1% year to date. The company's earnings beat estimates in three of the trailing four quarters and missed in the remaining one, delivering a negative average surprise of 19.12%. Halozyme is scheduled to report third-quarter results on Nov. 5. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Incyte Corporation (INCY) : Free Stock Analysis Report Novartis AG (NVS) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

The market expects Incyte (INCY) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This specialty drugmaker is expected to post quarterly loss of $3.50 per share in its upcoming report, which represents a year-over-year change of -254.9%. Revenues are expected to be $1.48 billion, up 8.5% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 0.28% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Incyte, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -11.02%. On the other hand, the stock currently carries a Zacks Rank of #5. So, this combination makes it difficult to conclusively predict that Incyte will beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Incyte would post earnings of $2 per share when it actually produced earnings of $3.09, delivering a surprise of +54.50%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Incyte doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Incyte Corporation (INCY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

With a market cap of $23 billion, Incyte Corporation (INCY) is a Delaware–based biopharmaceutical company focused on discovering, developing, and commercializing targeted therapies, primarily in oncology and inflammatory diseases. The company specializes in small-molecule drugs that modulate specific biological pathways, particularly those involved in cancer and immune system disorders. The company is set to unveil its fiscal Q3 2026 results on Thursday, Oct. 29, before the market opens. Ahead of this event, analysts expect INCY to report a loss of $3.87 per share, down 290.6% from a profit of $2.03 per share in the year-ago quarter. It has surpassed Wall Street's bottom-line estimates in three of the past four quarters while missing on another occasion. - Novo Nordisk's CEO Was Asked Why His Stock Keeps Falling on Good News: 'The Stock Market Is Always Right, but With a Bit of a Time Difference' - Dear UnitedHealth Stock Fans, Mark Your Calendars for October 13 - How Google Stock Investors Should View the Long-Awaited Gemini 4 Argon Launch - Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! For fiscal 2026, analysts forecast the specialty drugmaker to post EPS of $2.40, a 57% fall from $5.58 in fiscal 2025. Earnings are likely to rebound in FY2027, rising 217.5% year over year to $7.62. INCY stock has climbed 32.1% over the past 52 weeks, outperforming the broader S&P 500 Index's ($SPX) 15% gain and the State Street Health Care Select Sector SPDR ETF's (XLV) 16.4% return over the same period. Incyte has benefited from strong commercial growth, with revenue climbing 26.9% over the past year and averaging 22.8% annual growth over the last two years. Beyond top-line gains, the company has improved its cash-generating capacity, expanding its free cash flow margin by 12.6 percentage points over the past five years. Rising returns on invested capital have further strengthened its growth profile, helping INCY outpace the broader market. On Sept. 25, Incyte and Mirum Pharmaceuticals, Inc. (MIRM) announced that the FDA has approved Atebrioz (zilurgisertib), a once-daily oral treatment designed to reduce abnormal bone formation in patients aged 12 and older with fibrodysplasia ossificans progressiva (FOP), a rare disease that progressively restricts movement. The approval was supported by clinical trial data showing a reduction in new bone lesion volume compared with placebo. Developed by Incyte and licensed to Mirum for commercialization, the treatment is expected to launch in the U.S. this month. Analysts' consensus rating on INCY stock is cautiously optimistic, with a "Moderate Buy" rating overall. Out of 28 analysts covering the stock, opinions include 12 "Strong Buy" and 16 "Holds." Its mean price target of $130.56 implies an upswing potential of 15.8% from the current market prices. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

The end of the earnings season is always a good time to take a step back and see who shined (and who didn't). Let's take a look at how biotechnology stocks fared in Q2, starting with Incyte (NASDAQ:INCY). The biotechnology industry is defined by its high-risk, high-reward business model, as companies invest heavily in research and development to create innovative therapies and treatments. Breakthroughs can lead to transformative, patent-protected revenue streams. Companies in this space are also increasingly relying on AI and data to maximize the speed and efficiency of drug discovery. On the other hand the lengthy and expensive process of clinical trials and regulatory approval makes profitability uncertain and timelines unpredictable. The 14 biotechnology stocks we track reported a very strong Q2. As a group, revenues beat analysts' consensus estimates by 8.9%. Luckily, biotechnology stocks have performed well with share prices up 28.1% on average since the latest earnings results. Founded in 1991 and evolving from a genomics research firm to a commercial-stage drug developer, Incyte (NASDAQ:INCY) is a biopharmaceutical company that discovers, develops, and commercializes proprietary therapeutics for cancer and inflammatory diseases. Incyte reported revenues of $1.67 billion, up 37.7% year on year. This print exceeded analysts' expectations by 11.3%. Overall, it was a satisfactory quarter for the company with a beat of analysts' EPS estimates but full-year revenue guidance missing analysts' expectations. "Our second quarter was marked by broad-based sales growth, continued pipeline progress and strategic business development," said Bill Meury, Chief Executive Officer, Incyte. Interestingly, the stock is up 2.1% since reporting and currently trades at $121.33. Is now the time to buy Incyte? Access our full analysis of the earnings results here, it's free. Founded by scientists who wanted to build a company where science could thrive, Regeneron Pharmaceuticals (NASDAQ:REGN) develops and commercializes medicines for serious diseases, with key products treating eye conditions, allergic diseases, cancer, and other disorders. Regeneron reported revenues of $4.29 billion, up 16.7% year on year, outperforming analysts' expectations by 12.4%. The business had an incredible quarter with a beat of analysts' EPS estimates. The market seems happy with the results as the stock is up 8.8% since reporting. It currently trades at $756.50. Is now the time to buy Regeneron? Access our full analysis of the earnings results here, it's free. Founded in 1991 as one of the pioneers in translating genetic discoveries into clinical applications, Myriad Genetics (NASDAQ:MYGN) develops genetic tests that assess disease risk, guide treatment decisions, and provide insights across oncology, women's health, and mental health. Myriad Genetics reported revenues of $190.7 million, down 10.5% year on year, falling short of analysts' expectations by 8.2%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts' expectations and a significant miss of analysts' EPS estimates. Myriad Genetics delivered the weakest performance against analyst estimates and weakest full-year guidance update of the whole group. As expected, the stock is down 20.5% since the results and currently trades at $4.27. Read our full analysis of Myriad Genetics's results here. Founded in 1980 during the early days of the biotechnology revolution, Amgen (NASDAQ:AMGN) is a biotechnology company that discovers, develops, and manufactures innovative medicines to treat serious illnesses like cancer, osteoporosis, and autoimmune diseases. Amgen reported revenues of $10.05 billion, up 9.5% year on year. This print topped analysts' expectations by 6.9%. Overall, it was an exceptional quarter as it also put up full-year revenue guidance exceeding analysts' expectations. The stock is up 8.2% since reporting and currently trades at $421.81. Read our full, actionable report on Amgen here, it's free. Rising to global prominence during the COVID-19 pandemic with one of the first effective vaccines, Moderna (NASDAQ:MRNA) develops messenger RNA (mRNA) medicines that direct the body's cells to produce proteins with therapeutic or preventive benefits for various diseases. Moderna reported revenues of $145 million, up 2.1% year on year. This result surpassed analysts' expectations by 35.8%. It was an exceptional quarter as it also produced a beat of analysts' EPS estimates. Moderna delivered the biggest analyst estimate beat in the group. The stock is up 230% since reporting and currently trades at $191.37. Read our full, actionable report on Moderna here, it's free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market's biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market's primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market's dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

It has been about a month since the last earnings report for Acadia Pharmaceuticals (ACAD). Shares have added about 0.5% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Acadia due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Acadia reported second-quarter 2026 earnings of 18 cents per share, which surpassed the Zacks Consensus Estimate of 6 cents. The company had reported earnings of 16 cents per share in the year-ago quarter. Revenues of $308 million beat the Zacks Consensus Estimate of $294 million, reflecting a 16% year-over-year increase. Growth was supported by higher marketed product sales. Acadia’s revenues comprise net product sales from its two marketed drugs, Daybue and Nuplazid. Reported revenues increased from $264.6 million in the second quarter of 2025 to $308 million in the reported quarter. The company’s quarterly performance benefited from continued demand for both products. Daybue growth was supported by the uptake of the recently launched Daybue STIX formulation, while Nuplazid benefited from volume growth and increased new-patient prescriptions. Reported net product sales of Nuplazid were $183.2 million in the second quarter of 2026, up 9% from $168.5 million in the year-ago period. The drug is approved in the United States for treating hallucinations and delusions associated with Parkinson’s disease psychosis. Nuplazid sales beat the Zacks Consensus Estimate of $181.5 million. Management stated that Nuplazid’s growth was primarily volume-driven. New-patient prescriptions increased 20% year over year and reached their highest quarterly level since the first quarter of 2018. Acadia also continued to expand engagement with priority health care providers through its enlarged field force. Daybue reported net product sales of $124.8 million, up 30% from $96.1 million in the second quarter of 2025. Daybue is approved in the United States for treating Rett syndrome in adult and pediatric patients two years of age and older. The reported figure beat the Zacks Consensus Estimate of $111.3 million. Growth was driven largely by volume and strong uptake of Daybue STIX. Approximately 40% of U.S. Daybue patients were receiving STIX by the end of the quarter. The company also recorded a quarterly high in the number of patients returning to Daybue treatment. Acadia stated that around 60% of total referrals during the quarter came from treatment-naive patients, while 40% represented returning patients. For STIX specifically, 55% of patients switched from the oral solution, while the remaining 45% were new or returning patients. Research and development (R&D) expenses were $82 million in the second quarter of 2026, up 5% from $78 million in the year-ago period. Selling, general and administrative (SG&A) expenses increased 20% year over year to $160 million from $134 million. The increase reflected investments in expanding the Nuplazid and Daybue field forces and higher marketing spending to support both brands. Acadia had cash, cash equivalents and investment securities worth $956 million as of June 30, 2026, compared with $851 million as of March 31, 2026. Following the strong quarterly performance, Acadia raised its total revenue guidance for 2026 to a range of $1.24 billion to $1.30 billion. The previous guidance range was $1.22 billion to $1.28 billion. The company increased its Daybue global net product sales forecast to $480-$510 million from the prior range of $460-$490 million. The revised outlook reflects strong U.S. demand, uptake of STIX and expected contributions from international markets. Nuplazid net product sales guidance was maintained at $760-$790 million. Management expects the expanded field force to have a greater impact on Nuplazid’s performance later in the year as sales representatives deepen engagement with targeted physicians. Acadia now expects R&D expense in the range of $355-$380 million, down from the previous range of $385-$410 million. SG&A expenses continue to be expected between $660 million and $700 million. In the past month, investors have witnessed a upward trend in estimates review. The consensus estimate has shifted 59.62% due to these changes. At this time, Acadia has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Acadia has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Acadia belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Incyte (INCY), has gained 7.5% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. Incyte reported revenues of $1.67 billion in the last reported quarter, representing a year-over-year change of +37.7%. EPS of $3.09 for the same period compares with $1.57 a year ago. For the current quarter, Incyte is expected to post a loss of $3.31 per share, indicating a change of -246.5% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days. Incyte has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

A month has gone by since the last earnings report for uniQure (QURE). Shares have added about 17.5% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is uniQure due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for uniQure N.V. before we dive into how investors and analysts have reacted as of late. QURE Q2 Earnings Miss Estimates on Higher Costs, Revenues Rise Y/Y uniQure incurred a second-quarter 2026 loss of $1.22 per share, wider than the Zacks Consensus Estimate of a loss of 81 cents. The loss widened 76.8% year over year, primarily due to higher non-operating and other expenses. Revenues rose 11% year over year to $5.8 million, driven primarily by higher license revenues. However, the metric missed the Zacks Consensus Estimate of $7 million. The company did not record any product sales during the quarter. Its revenue base continues to depend substantially on licensing arrangements, including economics associated with Hemgenix under its collaboration with CSL Behring. QURE’s Quarter in Detail Research and development (R&D) expenses declined 4% year over year to $34 million, primarily due to a $3.2 million reduction in other R&D expenses, partially offset by a $1.8 million increase in direct R&D spending. Selling, general and administrative expenses increased 28.6% year over year to $17.4 million. The increase primarily reflected higher employee-related costs to support the potential commercial launch of AMT-130, along with increased intellectual property and information technology costs, partially offset by lower professional fees. Other expenses surged 264.3% to $8 million, mainly due to a $6 million rise in costs associated with supplying Hemgenix to CSL Behring. uniQure ended the quarter with cash, cash equivalents and investments totaling $810.3 million compared with $586.6 million as of March 31, 2026. Management expects its current cash resources to fund operations into 2030. QURE’s Key Pipeline Updates uniQure continues to make significant regulatory progress with AMT-130, its investigational gene therapy for Huntington's disease. Following a Type B meeting in June 2026, the FDA agreed that a biologics license application (BLA) seeking accelerated approval based on the existing three-year phase I/II clinical data is reasonable, while requesting alignment on the confirmatory study design before submission. The company remains on track to submit the BLA in the third quarter of 2026 and plans to initiate the confirmatory study thereafter. In September 2026, uniQure expects to present updated data from its ongoing phase I/II studies on AMT-130 for the treatment of Huntington's disease, including four-year follow-up results from the first two patient cohorts. The company is advancing regulatory plans in the United Kingdom, with a regulatory submission scheduled for the third quarter of 2026. Apart from AMT-130, QURE’s pipeline comprises a few other candidates that are currently in development.  The company is evaluating AMT-260 for the treatment of refractory mesial temporal lobe epilepsy in the phase I/IIa study. The other candidate in the pipeline is AMT-191 for the treatment of Fabry disease. In June, the company announced encouraging preliminary six-month data from its phase I/IIa study, which demonstrated meaningful reductions in disabling seizures in half of the patients enrolled in the first low-dose cohort. uniQure expects to complete enrollment in the second dose cohort in the third quarter of 2026, with updated clinical data anticipated in the first half of 2027. In the past month, investors have witnessed a upward trend in estimates revision. The consensus estimate has shifted 6.37% due to these changes. At this time, uniQure has a poor Growth Score of F, a grade with the same score on the momentum front. Following the exact same course, the stock has a grade of F on the value side, putting it in the lowest quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, uniQure has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. uniQure belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Incyte (INCY), has gained 3.9% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. Incyte reported revenues of $1.67 billion in the last reported quarter, representing a year-over-year change of +37.7%. EPS of $3.09 for the same period compares with $1.57 a year ago. Incyte is expected to post a loss of $3.31 per share for the current quarter, representing a year-over-year change of -246.5%. Over the last 30 days, the Zacks Consensus Estimate has changed -90.4%. Incyte has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report uniQure N.V. (QURE) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

It has been about a month since the last earnings report for Incyte (INCY). Shares have added about 0.8% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Incyte due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for Incyte Corporation before we dive into how investors and analysts have reacted as of late. INCY Q2 Earnings & Revenues Beat on Higher Sales, '26 View Raised Incyte Corporation reported second-quarter 2026 adjusted earnings of $3.09 per share, which beat the Zacks Consensus Estimate of $2.00, primarily due to higher product sales. The company had reported adjusted earnings of $1.57 per share in the year-ago quarter. Total revenues in the second quarter were $1.67 billion, which grew 38% year over year, driven primarily by the sustained performance of its lead drug, Jakafi (ruxolitinib), and increased sales of Opzelura (ruxolitinib) cream on strong launch and demand. The top line beat the Zacks Consensus Estimate of $1.46 billion. All percentages mentioned below are on a reported basis. INCY's Q2 Results in Detail Revenues from the sale of Jakafi, a first-in-class JAK1/JAK2 inhibitor approved for polycythemia vera, myelofibrosis and refractory acute graft-versus-host disease (GVHD), amounted to $816.7 million, up 7% from the year-ago quarter, owing to a 9% increase in paid demand and growth across all indications. Jakafi's sales beat the Zacks Consensus Estimate of $798 million. Opzelura (ruxolitinib) cream, approved for atopic dermatitis and vitiligo, generated $449.7 million in sales, which rose 173% year over year, beating the Zacks Consensus Estimate of $277.8 million. The massive uptick was driven by a one-time, non-cash benefit of $246 million associated with the reversal of previously established accrual balances through March 31, 2026, for Opzelura, as well as by increased patient demand in both approved indications. The newly approved medicine Zynyz (retifanlimab-dlwr) generated sales of $49.9 million, which significantly increased from the year-ago quarter and beat the Zacks Consensus Estimate of $43.8 million. The company obtained accelerated approval for Zynyz to treat metastatic or recurrent locally advanced Merkel cell carcinoma. Net product revenues of Iclusig were $34.4 million, up 5% year over year. The figure missed the Zacks Consensus Estimate of $35.5 million. Pemazyre generated $23.4 million in sales, reflecting a year-over-year increase of 6%. The figure surpassed the Zacks Consensus Estimate of $22.4 million. Minjuvi's revenues totaled $53.7 million, up 72% year over year. The figure beat the Zacks Consensus Estimate of $50.6 million. Incyte gained exclusive global rights for tafasitamab from MorphoSys AG, which is marketed as Monjuvi in the United States and as Minjuvi in the ex-U.S. markets in 2024. Incyte and partner Syndax Pharmaceuticals obtained FDA approval for axatilimab-csfr, an anti-CSF-1R antibody, for the treatment of GVHD after the failure of at least two prior lines of systemic therapy in adult and pediatric patients weighing at least 40 kg. The candidate was approved under the brand name Niktimvo. The drug is Incyte’s second approved treatment for chronic GVHD (third-line) and was launched in the United States during the first quarter of 2025. The drug recorded $60.3 million in sales in the second quarter of 2026, up 67% on a year-over-year basis, driven by strong uptake, but missed the Zacks Consensus Estimate of $63.8 million. Shares of Incyte have rallied 20.3% year to date compared with the industry’s 2% growth. Jakafi is marketed by Incyte in the United States and by Novartis as Jakavi in ex-U.S. markets. Jakavi royalty revenues from Novartis for commercialization in ex-U.S. markets rose 13% to $124.2 million. Jakavi royalties beat the Zacks Consensus Estimate of $117 million. Incyte also receives royalties from the sales of Tabrecta (capmatinib) for the treatment of adult patients with metastatic non-small-cell lung cancer. Its partner, Novartis, has exclusive worldwide development and commercialization rights for Tabrecta. Royalty revenues from the drug’s sales amounted to $6.7 million, up 1% year over year. The reported figure missed the Zacks Consensus Estimate of $7.1 million. Olumiant’s (baricitinib) product royalty revenues from Eli Lilly totaled $38.5 million, up 15% year over year. The figure beat the Zacks Consensus Estimate of $36.9 million. Incyte has a collaboration agreement with Eli Lilly for Olumiant. The drug is a once-daily oral JAK inhibitor discovered by Incyte and licensed to LLY. It is approved for several types of autoimmune diseases. Adjusted research and development (R&D) expenses totaled $478.8 million, up 5% year over year. This increase was primarily due to continued investment in late-stage development assets. Adjusted selling, general and administrative (SG&A) expenses were $323.6 million, up 6% from the prior-year quarter’s number, primarily due to increased consumer marketing and pre-launch activities. INCY’s cash, cash equivalents and marketable securities amounted to $4.5 billion as of June 30, 2026, compared with $4 billion recorded as of March 31, 2026. INCY Raises 2026 Guidance While Incyte continues to expect Jakafi revenues in the range of $3.22-$3.27 billion in 2026, it now expects Opzelura net product revenues to be in the range of $1.05-$1.1 billion, up from the previously guided range of $750-$790 million. Net product revenues for 2026 are now expected to be in the range of $5.13-$5.26 billion, up from the previously guided range of $4.77-$4.94 billion. Total adjusted R&D expenses and SG&A expenses for 2026 are now expected in the range of $4.625-$4.695 billion compared with the previous guidance of $3.205-$3.375 billion. In the past month, investors have witnessed a downward trend in estimates revision. The consensus estimate has shifted -298.32% due to these changes. At this time, Incyte has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a score of B on the value side, putting it in the second quintile for value investors. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Incyte has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Incyte Corporation (INCY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Mirum Pharmaceuticals MIRM reported a loss of 80 cents per share (excluding certain one-time expenses) for the second quarter of 2026, wider than the Zacks Consensus Estimate of a loss of 77 cents. The company had reported a loss of 12 cents per share in the year-ago quarter. Revenues in the second quarter totaled $176.2 million, up 37.9% year over year. The figure also beat the Zacks Consensus Estimate of $165 million. The top line was driven by strong growth of its marketed products, Livmarli (maralixibat) and bile acid medicines, Cholbam and Ctexli (chenodiol). Livmarli is approved for treating cholestatic pruritus in patients with Alagille syndrome worldwide. The drug is also approved for treating certain patients with progressive familial intrahepatic cholestasis in the United States and Europe. The FDA has also approved a new tablet formulation of Livmarli for the treatment of cholestatic pruritus in patients with Alagille syndrome and progressive familial intrahepatic cholestasis. The oral tablet was launched in the United States in June 2025, which is likely to offer convenience for older patients. Mirum acquired Travere Therapeutics’ bile acid products in August 2023, which added the latter’s Cholbam capsules and Ctexli tablets to its portfolio of commercialized drugs. Shares of Mirum have rallied 34% so far this year compared with the industry’s rise of 3.4%. Image Source: Zacks Investment Research Livmarli’s net product sales were $128.7 million in the second quarter, reflecting an increase of 46% year over year. Livmarli sales in the United States were $92 million, reflecting strong demand across all indications. In ex-U.S. markets, Livmarli sales were $37 million. Net product sales of bile acid products, comprising Cholbam and Ctexli tablets, were $47.5 million in the quarter, reflecting an increase of 20% year over year. The company did not record any license and other revenues in the reported quarter. Research and development expenses increased almost 96.3% year over year to $90.5 million. Selling, general and administrative expenses totaled $81.5 million, up almost 28.8% from the year-ago quarter’s level. As of June 30, 2026, Mirum had cash, cash equivalents and investments worth $561.3 million compared with $420.6 million as of March 31, 2026. In view of the strong performance of its marketed products, Mirum raised its revenue guidance for 2026. The company now expects worldwide net product sales of $680-$700 million in 2026 compared with the previous expectation of $660-$680 million. In March 2026, Mirum completed enrollment in the phase III EXPAND study evaluating Livmarli for treating additional rare cholestatic conditions. Top-line data from the same is expected in the fourth quarter of 2026. Mirum’s lead pipeline candidate, volixibat, is currently being evaluated in two phase IIb studies for treating patients with primary biliary cholangitis or PBC (the VANTAGE study) and primary sclerosing cholangitis or PSC (the VISTAS study). The company recently had a pre-new drug application (NDA) meeting with the FDA for volixibat in cholestatic pruritus due to PSC. Mirum is now planning additional discussions with the FDA before a potential NDA submission for volixibat in PSC in the first half of 2027. The FDA has granted Breakthrough Therapy designation and Orphan Drug designation to volixibat for the treatment of cholestatic pruritus due to PSC. Meanwhile, the company expects to report top-line data from the VANTAGE study in the first quarter of 2027. Mirum recently completed the acquisition of privately held biotech Bluejay Therapeutics. Through this deal, it added brelovitug — a fully human monoclonal antibody being developed to treat chronic hepatitis delta virus (“HDV”) — to its pipeline. Top-line data from the phase III AZURE-1 and AZURE-4 studies evaluating brelovitug in HDV are expected in the third and fourth quarters of 2026, respectively. Mirum recently in-licensed exclusive worldwide rights to zilurgisertib, a once-daily oral ALK2 inhibitor from Incyte INCY. The candidate is being developed for treating fibrodysplasia ossificans progressiva (FOP). In June 2026, Mirum and Incyte announced positive phase II results from Cohort 1 of the PROGRESS study evaluating zilurgisertib in adolescents and adults aged 12 years and older with FOP. Cohort 1 results showed meaningful reductions in total heterotopic ossification (HO) lesion volume, new HO lesions and flare activity in adolescents and adults with FOP. These results were shared in a late-breaking presentation at ENDO 2026, the Endocrine Society’s annual meeting. The FDA has accepted the new drug application seeking approval for zilurgisertib in FOP under Priority Review with a target action date of Sept. 26, 2026. Upon potential approval, Mirum expects to launch zilurgisertib in the fourth quarter of 2026. Also, a marketing application for zilurgisertib in FOP has been submitted in Europe. Mirum Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Mirum Pharmaceuticals, Inc. Quote Mirum currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the biotech sector are Repligen RGEN and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Over the past 60 days, estimates for Repligen’s 2026 earnings per share have risen from $1.99 to $2.06, while estimates for 2027 have increased from $2.57 to $2.62 during the same time. RGEN shares have declined 3.4% year to date. Repligen’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 16.80%. Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $2.97 to $3.02, while estimates for 2027 have increased from $4.81 to $5.31 during the same time. LQDA shares have surged 158.4% year to date. Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Mirum Pharmaceuticals, Inc. (MIRM) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report Repligen Corporation (RGEN) : Free Stock Analysis Report Liquidia Corporation (LQDA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. Incyte stock has delivered a strong run over the last three years, yet the broader valuation checks suggest it may no longer stand out as a clear bargain at current levels. Incyte has returned 87.8% over the past three years, which puts fresh focus on whether recent gains already reflect much of the good news. Recent approvals for Opzelura in atopic dermatitis and new partnership activity can support confidence in future revenue, while execution risk around expanding treatments and partnerships may still affect how much of that potential is ultimately reflected in cash flows. On Simply Wall St's broader valuation framework, Incyte scores 2 out of 6, which leans more toward expensive than cheap on these checks. The issue now is whether Incyte's strong share price performance has moved the stock closer to being fully valued, or if there is still room for further upside based on fundamentals. Incyte delivered 58.1% returns over the last year. See how this stacks up to the rest of the Biotechs industry. The P/E ratio is a useful way to look at Incyte because it ties the share price directly to the earnings that support it. On this measure, Incyte trades at about 15.0x earnings. That compares with an industry average P/E of roughly 17.1x for biotechs and a peer group average around 23.2x. The stock therefore sits below both the broader biotech group and its closer peers on this simple earnings yardstick. The fair P/E multiple from the broader framework is about 14.8x, which is very close to where Incyte is currently priced. Despite the recent Opzelura approval in the EU and stronger recent earnings headlines, the market multiple still sits in line with what this framework suggests for the business when growth, margins, size and risk are considered together. In other words, the latest news and share price move have not pushed the P/E into an obvious bargain or bubble zone on these checks. Overall, Incyte appears roughly fairly valued on its P/E ratio based on these benchmarks. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives aim to connect Incyte's current valuation puzzle with clear scenarios by spelling out what assumptions on future growth, margins and earnings would need to hold for the stock to be worth materially more or less than today. Each narrative links its number to a concrete view of how Incyte's growth, profitability and risk profile could evolve, which you can revisit as new information becomes available on the Community page. Community views on Incyte sit far apart, with one side focused on the hematology pipeline upside and the other on Jakafi dependence and execution risk. Bull case: 15% undervalued Read the full Bull Case to see why Incyte could be undervalued Bear case: roughly fairly valued Read the full Bear Case to see why Incyte could be overvalued Do you think there's more to the story for Incyte? Head over to our Community to see what others are saying! For now, Incyte looks roughly in line with what its P/E suggests rather than clearly undervalued or overvalued. The stock no longer screens as an obvious bargain on the broader valuation checks, even if some investors still see upside in the pipeline and partnerships. The real swing factor from here is whether Incyte can turn its current portfolio and new treatments into durable earnings that justify any further re rating of the multiple, despite concerns around concentration in Jakafi. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include INCY. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Incyte Corporation INCY reported second-quarter 2026 adjusted earnings of $3.09 per share, which beat the Zacks Consensus Estimate of $2.00, primarily due to higher product sales. The company had reported adjusted earnings of $1.57 per share in the year-ago quarter. Total revenues in the second quarter were $1.67 billion, which grew 38% year over year, driven primarily by the sustained performance of its lead drug, Jakafi (ruxolitinib), and increased sales of Opzelura (ruxolitinib) cream on strong launch and demand. The top line beat the Zacks Consensus Estimate of $1.46 billion. All percentages mentioned below are on a reported basis. Revenues from the sale of Jakafi, a first-in-class JAK1/JAK2 inhibitor approved for polycythemia vera, myelofibrosis and refractory acute graft-versus-host disease (GVHD), came in at $816.7 million, up 7% from the year-ago quarter, owing to a 9% increase in paid demand and growth across all indications. Jakafi's sales beat the Zacks Consensus Estimate of $798 million. Opzelura (ruxolitinib) cream, approved for atopic dermatitis and vitiligo, generated $449.7 million in sales, which rose 173% year over year, beating the Zacks Consensus Estimate of $277.8 million. The massive uptick was driven by a one-time, non-cash benefit of $246 million associated with the reversal of previously established accrual balances through March 31, 2026, for Opzelura, as well as by increased patient demand in both approved indications. The newly approved medicine Zynyz (retifanlimab-dlwr) generated sales of $49.9 million, which significantly increased from the year-ago quarter and beat the Zacks Consensus Estimate of $43.8 million. The company obtained accelerated approval for Zynyz to treat metastatic or recurrent locally advanced Merkel cell carcinoma. Net product revenues of Iclusig were $34.4 million, up 5% year over year. The figure missed the Zacks Consensus Estimate of $35.5 million. Pemazyre generated $23.4 million in sales, reflecting a year-over-year increase of 6%. The figure surpassed the Zacks Consensus Estimate of $22.4 million. Minjuvi's revenues totaled $53.7 million, up 72% year over year. The figure beat the Zacks Consensus Estimate of $50.6 million. Incyte gained exclusive global rights for tafasitamab from MorphoSys AG, which is marketed as Monjuvi in the United States and as Minjuvi in the ex-U.S. markets in 2024. Incyte and partner Syndax Pharmaceuticals obtained FDA approval for axatilimab-csfr, an anti-CSF-1R antibody, for the treatment of GVHD after the failure of at least two prior lines of systemic therapy in adult and pediatric patients weighing at least 40 kg. The candidate was approved under the brand name Niktimvo. The drug is Incyte’s second approved treatment for chronic GVHD (third-line) and was launched in the United States during the first quarter of 2025. The drug recorded $60.3 million in sales in the second quarter of 2026, up 67% on a year-over-year basis, driven by strong uptake, but missed the Zacks Consensus Estimate of $63.8 million. Shares of Incyte have rallied 20.3% year to date compared with the industry’s 2% growth. Image Source: Zacks Investment Research Jakafi is marketed by Incyte in the United States and by Novartis NVS as Jakavi in ex-U.S. markets. Jakavi royalty revenues from Novartis for commercialization in ex-U.S. markets rose 13% to $124.2 million. Jakavi royalties beat the Zacks Consensus Estimate of $117 million. Incyte also receives royalties from the sales of Tabrecta (capmatinib) for the treatment of adult patients with metastatic non-small-cell lung cancer. Its partner, Novartis, has exclusive worldwide development and commercialization rights for Tabrecta. Royalty revenues from the drug’s sales amounted to $6.7 million, up 1% year over year. The reported figure missed the Zacks Consensus Estimate of $7.1 million. Olumiant’s (baricitinib) product royalty revenues from Eli Lilly LLY totaled $38.5 million, up 15% year over year. The figure beat the Zacks Consensus Estimate of $36.9 million. Incyte has a collaboration agreement with Eli Lilly for Olumiant. The drug is a once-daily oral JAK inhibitor discovered by Incyte and licensed to LLY. It is approved for several types of autoimmune diseases. Adjusted research and development (R&D) expenses totaled $478.8 million, up 5% year over year. This increase was primarily due to continued investment in late-stage development assets. Adjusted selling, general and administrative (SG&A) expenses were $323.6 million, up 6% from the prior-year quarter’s number, primarily due to increased consumer marketing and pre-launch activities. INCY’s cash, cash equivalents and marketable securities amounted to $4.5 billion as of June 30, 2026, compared with the $4 billion recorded as of March 31, 2026. Incyte Corporation price-consensus-eps-surprise-chart | Incyte Corporation Quote While Incyte continues to expect Jakafi revenues in the range of $3.22-$3.27 billion in 2026, it now expects Opzelura net product revenues to be in the range of $1.05-$1.1 billion, up from the previously guided range of $750-$790 million. Net product revenues for 2026 are now expected to be in the range of $5.13-$5.26 billion, up from the previously guided range of $4.77-$4.94 billion. Total adjusted R&D expenses and SG&A expenses for 2026 are now expected in the range of$4.625 - $4.695 billion compared with the previous guidance of $3.205-$3.375 billion. Incyte currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the biotech sector is Neurocrine Biosciences NBIX,carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Over the past 60 days, estimates for Neurocrine Biosciences’ 2026 earnings per share have decreased from $9.15 to $9.09. Over the same period, EPS estimates for 2027 have increased from $10.23 to $10.81. NBIX shares have gained 24.4% year to date. Neurocrine Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 9.08%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Incyte Corporation (INCY) : Free Stock Analysis Report Novartis AG (NVS) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report Neurocrine Biosciences, Inc. (NBIX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Incyte Corporation? Here are five stocks we like better. Strong Q2 performance: Incyte reported $1.49 billion in net product sales, up 40% year over year, though results included a $246 million one-time OPZELURA-related benefit. Excluding that benefit, sales rose 17%, prompting the company to raise its 2026 revenue outlook to $5.13 billion–$5.26 billion. Growth broadens beyond Jakafi: Jakafi sales increased 7% to $817 million, while the business excluding Jakafi grew 127% to $671 million. OPZELURA, Niktimvo, MONJUVI and ZYNYZ all posted significant gains, with higher 2026 guidance for OPZELURA and the hematology-oncology portfolio. Pipeline expansion comes with higher costs: Incyte acquired Vega Therapeutics and its phase III von Willebrand disease candidate latarcibart, while advancing several pivotal programs and discontinuing a non-differentiated JAK2 program. The transaction and development investments lifted 2026 operating-expense guidance to $4.915 billion–$4.995 billion. Can Incyte Deliver on 447% EPS Forecasts and Pipeline Hype? Incyte (NASDAQ:INCY) reported second-quarter 2026 net product sales of $1.49 billion, up 40% from a year earlier, supported by demand growth across its marketed portfolio and a one-time non-cash benefit tied to the resolution of a CMS matter involving OPZELURA. Excluding the $246 million one-time benefit, total net sales increased 17% year over year, Chief Executive Officer Bill Meury said on the company’s earnings call. Meury said every marketed product recorded year-over-year growth in both U.S. and international markets. → Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit 5 top healthcare stocks for earnings growth in 2024 The company raised its full-year 2026 total net sales outlook to a range of $5.13 billion to $5.26 billion. It also increased OPZELURA sales guidance and narrowed and raised its outlook for the hematology and oncology portfolio. Jakafi second-quarter sales were $817 million, up 7% from the prior-year period. Prescription demand increased 9% across myelofibrosis, polycythemia vera and graft-versus-host disease, with polycythemia vera serving as the largest growth driver, Meury said. → This Tiny AI Supplier Could Be More Important Than the Chipmakers Argenx's 28% Surge & Promising Product Propel Investor Confidence Incyte recently launched Jakafi XR, an extended-release version of the product. Jakafi XR generated $10 million in second-quarter sales, primarily from initial inventory build. The company expects full-year XR sales of approximately $40 million to $50 million, included within its broader Jakafi guidance. Mohamed Issa, executive vice president and head of U.S. Commercial, said payer reimbursement has begun and several major insurers have placed Jakafi XR on formulary. Incyte is targeting 50% to 70% formulary coverage by year-end and expects the extended-release product to represent roughly 3% to 5% of demand by December. → 2 Stocks Built to Thrive If Inflation Refuses to Fade Sales from Incyte’s business excluding Jakafi totaled $671 million, up 127% year over year. Excluding the one-time OPZELURA benefit, the segment grew 44%. Meury said the company remains on track toward its objective of generating $3 billion to $4 billion in net sales from the core business excluding Jakafi by 2030. OPZELURA contributed $450 million in second-quarter sales, including $204 million in net product sales and the $246 million non-cash benefit associated with the CMS settlement and the reversal of previously accrued balances related to Medicaid rebate litigation. U.S. OPZELURA sales excluding the one-time benefit rose 22% to $161 million. Prescription volume increased 26%, compared with 21% growth for the overall market, according to Meury. The company said OPZELURA captured 46% of branded topical new prescription volume. The CMS resolution improved the product’s average selling price and gross-to-net profile, Meury said. He said the gross-to-net rate moved from the low 60% range to the high 50% range. Incyte now expects $1.05 billion to $1.10 billion in full-year OPZELURA sales, including an estimated $300 million to $310 million impact from the settlement. International OPZELURA sales rose 34% to $43 million. The company expects a final European Commission decision for OPZELURA in moderate atopic dermatitis during the third quarter after receiving a positive opinion from the Committee for Medicinal Products for Human Use in June. Hematology and oncology sales increased 69% to $222 million. Niktimvo generated $60 million in sales, up 67%, with more than 300 new patients initiating therapy during the quarter and more than 1,200 patients treated. Incyte said it holds approximately one-third of the third-line-and-beyond market. MONJUVI sales increased 72% to $54 million, driven primarily by uptake in follicular lymphoma in international markets, including Japan following a recent approval and launch. ZYNYZ sales rose fourfold to $50 million, with the company reporting more than a 40% share in first-line squamous cell carcinoma of the anal canal in the U.S. 12 months after launch. Incyte narrowed and raised its 2026 hematology and oncology sales forecast to $860 million to $890 million. The company said it has advanced 13 of 15 planned pivotal studies, with the remaining two expected to begin by year-end. Regulatory reviews are ongoing for povorcitinib in hidradenitis suppurativa and tafasitamab in newly diagnosed diffuse large B-cell lymphoma, with potential approvals and launches beginning later in 2026 and extending into 2027. Incyte also acquired Vega Therapeutics, adding latarcibart, a phase III treatment candidate for von Willebrand disease. Pablo Cagnoni, Incyte’s president and global head of research and development, said data from the VIVID-3 study showed an 81% median reduction in annualized bleeding rate across patients with different von Willebrand disease subtypes and bleeding types. Top-line data from the phase III VIVID-6 trial are expected by early 2029. Meanwhile, Incyte discontinued development of its 058 program targeting JAK2 V617F in myeloproliferative neoplasms. Cagnoni said the company concluded that the molecule did not demonstrate the profile needed to be a differentiated therapy, though Incyte continues to view JAK2 V617F as an important target and is prioritizing next-generation programs. The company plans to present expanded early-stage data for its KRAS G12D inhibitor, INCB161734, its TGF-beta receptor 2 by PD-1 bispecific antibody, and its CDK2 inhibitor at the European Society for Medical Oncology Congress in October. GAAP operating expenses were $976 million in the quarter, up 42% from a year earlier. Incyte said the comparison reflected a lower prior-year expense base following a $242 million Novartis settlement in the second quarter of 2025. Excluding that favorable adjustment, operating expenses rose 5%. GAAP research and development expense increased 4% to $517 million, while selling, general and administrative expense rose 6% to $352 million, driven in part by pre-launch activities for povorcitinib. The company ended the quarter with $4.5 billion in cash and cash equivalents, including the impact of the Vega acquisition completed in July. Incyte raised its 2026 GAAP R&D and SG&A expense outlook to $4.915 billion to $4.995 billion. The revised forecast includes approximately $1.27 billion related to the Vega transaction’s upfront in-process research and development payment and transaction costs, as well as roughly $50 million for continued phase III development of latarcibart. 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. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Incyte Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.