Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Incyte exhibited a robust performance in its third quarter of 2024, marking a notable year of growth and advancement in its drug portfolio.</li><li>Total revenues surged by 24% year-over-year, reaching $1.1 billion, led by the increased demand for flagship products Jakafi and Opzelura, which contributed significantly to the net product revenues growing by 23%.</li><li>Notably, Jakafi's revenue saw a 16% increase to $731 million due to increased patient demand across all indications, prompting the company to upgrade its full-year revenue guidance.</li></ul>

Incyte exhibited a robust performance in its third quarter of 2024, marking a notable year of growth and advancement in its drug portfolio.Total revenues surged by 24% year-over-year, reaching $1.1 billion, led by the increased demand for flagship products Jakafi and Opzelura, which contributed significantly to the net product revenues growing by 23%.Notably, Jakafi's revenue saw a 16% increase to $731 million due to increased patient demand across all indications, prompting the company to upgrade its full-year revenue guidance.

Incyte Corporation: Will Their Focus on Oncological Innovations Pay Off? - Major Drivers

<ul><li>Incyte Corporation reported its financial performance for the second quarter of 2024 with several notable highlights and strategic decisions that significantly influence its investment profile.</li><li>The company's total revenue grew by 9% year-over-year, reaching over $1 billion, primarily driven by robust sales of Jakafi and Opzelura.</li><li>Jakafi, particularly, showed a consistent demand increase of 9%, although net product revenues were slightly muted due to higher channel inventory levels in the previous year.</li></ul>

Incyte Corporation reported its financial performance for the second quarter of 2024 with several notable highlights and strategic decisions that significantly influence its investment profile.The company's total revenue grew by 9% year-over-year, reaching over $1 billion, primarily driven by robust sales of Jakafi and Opzelura.Jakafi, particularly, showed a consistent demand increase of 9%, although net product revenues were slightly muted due to higher channel inventory levels in the previous year.

Incyte Corporation: A Story Of Robust Pipeline Development and Strategic Acquisitions! - Major Drivers

<ul><li>Incyte Corp's first quarter 2024 earnings pointed towards the company's steady performance during the quarter and provided an update on its ongoing projects.</li><li>The company's total revenue grew by 9% in Q1 as compared to the same period last year, with growth driven largely by the drugs Jakafi and Opzelura.</li><li>In particular, Jakafi's net product revenue was $572 million, not fully reflecting its demand growth due to an increase in total patients, particularly those with PV and GVHD. Similarly, Opzelura's net product revenues in the first quarter were $86 million, indicating a 52% growth when compared to the same period last year.</li></ul>

Incyte Corp's first quarter 2024 earnings pointed towards the company's steady performance during the quarter and provided an update on its ongoing projects.The company's total revenue grew by 9% in Q1 as compared to the same period last year, with growth driven largely by the drugs Jakafi and Opzelura.In particular, Jakafi's net product revenue was $572 million, not fully reflecting its demand growth due to an increase in total patients, particularly those with PV and GVHD. Similarly, Opzelura's net product revenues in the first quarter were $86 million, indicating a 52% growth when compared to the same period last year.

Incyte Corporation: Can It Capitalize On The Potential For Expansion Into Dermatology? - Major Drivers

<ul><li>Incyte Corporation's 2023 earnings have been marked by the firm's strong performance following a 14% increase in product and royalty revenues compared to 2022, reaching $3.7 billion.</li><li>A significant milestone was achieved in the fourth quarter when total product and royalty revenue reached $1 billion for the first time.</li><li>This growth has primarily been driven by the continued growth of Jakafi and the successful launch of Opzelura.</li></ul>

Incyte Corporation's 2023 earnings have been marked by the firm's strong performance following a 14% increase in product and royalty revenues compared to 2022, reaching $3.7 billion.A significant milestone was achieved in the fourth quarter when total product and royalty revenue reached $1 billion for the first time.This growth has primarily been driven by the continued growth of Jakafi and the successful launch of Opzelura.

Incyte Corporation: Significant Clinical Progress in Pipeline Programs & Other Major Developments - Financial Forecasts

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/eisai-co-ltd" target="_blank" data-smartkarma-citation="entities:21001:1" rel="noopener">Eisai Co Ltd (4523 JP)</a> shares corrected more than 60% from highs over the disappointment from Alzheimer’s disease drug Leqembi. During H1FY24, Leqembi reported revenue of just ¥400M ($3M).</li>
<li>With approximately 40% revenue contribution, anti-cancer drug Lenvima is the top selling drug of Eisai. In the U.S., Lenvima patent protection will start to expire in US in October 2025.</li>
<li>In December, Eisai has submitted a marketing authorization application in Japan for tasurgratinib for biliary tract cancer. If approved, tasurgratinob will be a late entrant in a crowded market.</li>
</ul>



Eisai Co Ltd (4523 JP) shares corrected more than 60% from highs over the disappointment from Alzheimer’s disease drug Leqembi. During H1FY24, Leqembi reported revenue of just ¥400M ($3M).
With approximately 40% revenue contribution, anti-cancer drug Lenvima is the top selling drug of Eisai. In the U.S., Lenvima patent protection will start to expire in US in October 2025.
In December, Eisai has submitted a marketing authorization application in Japan for tasurgratinib for biliary tract cancer. If approved, tasurgratinob will be a late entrant in a crowded market.


Eisai Co Ltd (4523 JP): Why Performance Reversal Is Not Expected in Near-Term

United States

Incyte Corp is a biopharmaceutical company. The Company discovers, develops and commercializes proprietary small molecule drugs, primarily used in oncology.

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Incyte Corp (INCY US)

Incyte Corporation: Will Their Focus on Oncological Innovations Pay Off? - Major Drivers

Incyte exhibited a robust performance in its third quarter of 2024, marking a notable year of growth and advancement in its drug portfolio. Total...

Baptista Research

Incyte Corporation: A Story Of Robust Pipeline Development and Strategic Acquisitions! - Major Drivers

Incyte Corporation reported its financial performance for the second quarter of 2024 with several notable highlights and strategic decisions that...

Baptista Research

Incyte Corporation: Can It Capitalize On The Potential For Expansion Into Dermatology? - Major Drivers

Incyte Corp's first quarter 2024 earnings pointed towards the company's steady performance during the quarter and provided an update on its...

Baptista Research

Incyte Corporation: Significant Clinical Progress in Pipeline Programs & Other Major Developments - Financial Forecasts

Incyte Corporation's 2023 earnings have been marked by the firm's strong performance following a 14% increase in product and royalty revenues...

Baptista Research

Eisai Co Ltd (4523 JP): Why Performance Reversal Is Not Expected in Near-Term

Eisai shares are on downtrend due to disappointment with Alzheimer's drug. Top-selling drug Lenvima faces patent expiration in 2025. Eisai seeks...

Tina Banerjee

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Incyte Corporation: Will Their Focus on Oncological Innovations Pay Off? - Major Drivers

Incyte exhibited a robust performance in its third quarter of 2024, marking a notable year of growth and advancement in its drug portfolio. Total...

Baptista Research

Incyte Corporation: A Story Of Robust Pipeline Development and Strategic Acquisitions! - Major Drivers

Incyte Corporation reported its financial performance for the second quarter of 2024 with several notable highlights and strategic decisions that...

Baptista Research

Incyte Corporation: Can It Capitalize On The Potential For Expansion Into Dermatology? - Major Drivers

Incyte Corp's first quarter 2024 earnings pointed towards the company's steady performance during the quarter and provided an update on its...

Baptista Research

Incyte Corporation: Significant Clinical Progress in Pipeline Programs & Other Major Developments - Financial Forecasts

Incyte Corporation's 2023 earnings have been marked by the firm's strong performance following a 14% increase in product and royalty revenues...

Baptista Research

Eisai Co Ltd (4523 JP): Why Performance Reversal Is Not Expected in Near-Term

​Eisai shares are on downtrend due to disappointment with Alzheimer's drug. Top-selling drug Lenvima faces patent expiration in 2025. Eisai seeks...

Tina Banerjee

Eisai shares are on downtrend due to disappointment with Alzheimer's drug. Top-selling drug Lenvima faces patent expiration in 2025. Eisai seeks...