- Incyte’s R&D expenses in the fourth quarter of 2024 met expectations, reaching $466 million, a 4.8% increase compared to the previous year.
- The company’s cash, cash equivalents, and marketable securities totalled $2.16 billion, a 41% decrease year-over-year, but exceeded the $1.89 billion estimate.
- Adjusted earnings per share (EPS) stood at $1.43, up from $1.06 the previous year, but slightly below the $1.50 estimate.
- Total revenue for the quarter was $1.18 billion, marking a 16% increase year-over-year, surpassing the $1.15 billion estimate.
- Jakafi generated net product revenue of $773.1 million, an 11% increase year-over-year, beating the $746.9 million estimate.
- Iclusig net product revenue was $27.4 million, a slight 0.9% increase from the previous year, but below the $29.1 million estimate.
- Pemazyre net product revenues reached $23.1 million, a 12% rise year-over-year, exceeding the $22.3 million estimate.
- Product royalty revenue amounted to $159.3 million, up 6.5% year-over-year, slightly above the $156.6 million estimate.
- Opzelura revenue saw a significant 48% increase year-over-year, totalling $161.6 million, surpassing the $155.8 million estimate.
- The CEO, Hervé Hoppenot, highlighted 2024 as a pivotal year for Incyte, with a total revenue increase of 15%, driven by the growth of Jakafi and Opzelura.
- Guidance for Jakafi net revenues in 2025 is set between $2.925 billion and $2.975 billion.
- The stock has received 13 buy recommendations, 13 holds, and 1 sell.
Incyte Corp on Smartkarma
Analysts on Smartkarma, like Baptista Research, are closely covering Incyte Corp, a company generating buzz in the investment world. Baptista Research‘s report titled “The Takeover Buzz Around Incyte: What Makes It Irresistible to Big Pharma?” highlights Incyte Pharmaceuticals as a potential takeover target, leading to a surge in its stock price. Investors are excited about the prospect of a major pharmaceutical firm acquiring Incyte due to its innovative pipeline, strong revenue growth, and successful commercial products. In the third quarter of 2024, Incyte reported robust financial results, with a 24% increase in total revenues driven by the popularity of Jakafi and rapid Opzelura sales.
Furthermore, Baptista Research also analyzed Incyte Corp‘s performance in their report titled “Incyte Corporation: Will Their Focus on Oncological Innovations Pay Off? – Major Drivers.” This report emphasizes Incyte’s impressive performance in the third quarter of 2024, showcasing significant growth and advancement in its drug portfolio. Total revenues soared by 24% year-over-year, reaching $1.1 billion, primarily due to the high demand for flagship products like Jakafi and Opzelura. Jakafi, specifically, experienced a revenue increase of 16% to $731 million, driven by increased patient demand across all indications, prompting the company to upgrade its full-year revenue guidance. Analysts are optimistic about Incyte’s focus on oncological innovations and its potential for continued success in the market.
A look at Incyte Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 2 | |
| Resilience | 5 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Incyte Corp shows a promising long-term outlook. With a strong resilience score of 5, the company demonstrates robustness and adaptability in the face of challenges. This indicates that Incyte Corp has the ability to weather uncertainties and market fluctuations effectively. Additionally, the company’s momentum score of 4 suggests a positive trend in its stock performance and business growth, showing potential for continued success and investor interest.
However, despite these positive indicators, certain areas like dividend and growth scored lower, with values of 1 and 2 respectively. This reflects that Incyte Corp may not be as appealing to income-seeking investors due to its lower dividend score, and its growth prospects might not be as compelling compared to other factors. Overall, with a balanced value score of 3 and standout resilience and momentum scores, Incyte Corp‘s position in the market appears solid for long-term investment considerations.
Disclaimer: This article by Smartkarma is general in nature and 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. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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