What is the 13F Pro Quality Score for INCY?

13F Pro ranks INCYTE CORP (INCY) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View INCY's current score at https://13fpro.ai/company/INCY (free sign-up required for the full ranking).

Which hedge funds own the most INCY stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of INCY include BAKER BROS. ADVISORS, BlackRock,, DODGE & COX. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/INCY as soon as new 13F filings post.

Where does 13F Pro source INCY data?

All INCYTE CORP fundamentals and ownership data come directly from SEC EDGAR. INCYTE CORP files with the SEC under CIK 879169. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is INCY in?

INCYTE CORP (INCY) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

What drives INCY's revenue?

Per INCYTE CORP's latest 10-Q filed with the SEC on 2026-07-28, the biggest revenue drivers are: Net sales ($1,488.1M, +40% YoY); Product royalty revenues ($174.7M, +16% YoY); Milestone and contract revenues ($11.2M, +124% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/INCY.

What are INCY's largest expenses?

INCYTE CORP's latest 10-Q reports these as the largest expense items: Research and development ($517.0M, +4% YoY); Selling, general and administrative ($351.7M, +6% YoY); Cost of sales ($105.0M, +33% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is INCY research updated on 13F Pro?

INCY's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

INCYTE CORP(INCY)Stock Analysis

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13F Pro Quality Score

77.4/100

Rank #67 of 2,961 stocksTOP 5%

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

79.1/100

Profitability

89.9/100

Balance Sheet

96.8/100

Earnings Quality

62.6/100

Free Cash Flow

82.2/100

Institutional Flow

51.9/100

Revenue Scale

78.8/100

Dilution Risk

25.2/100

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Why INCY Scores 77/100

exact factor attribution · 2026-09-11

INCY's composite is driven by profitability and revenue growth, held back by shareholder dilution. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Profitability

+6.0 pts

90th pct

Revenue growth

+5.8 pts

79th pct

Free cash flow

+4.8 pts

82th pct

Capital efficiency

+4.7 pts

97th pct

Scale

+4.3 pts

79th pct

Earnings growth

+1.7 pts

84th pct

Earnings quality

+1.3 pts

63th pct

Institutional flow

+0.1 pts

52th pct

Shareholder dilution

-1.2 pts

25th pct

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

INCY Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for INCYTE CORP (INCY), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores INCY at 77.4/100 on a 32-signal composite quality model, placing it at rank #67 of 2,961 stocks — the top 5% of the AI-ranked universe. INCY scores in the top quartile across balance sheet strength (96.8), profitability (89.9), free cash flow (82.2). Shareholder dilution risk is elevated at 25.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), INCYTE CORP reports quarterly revenue of $1.3B, net income of $303.3M, an operating margin of 23.7%. Top institutional holders of INCY by reported 13-F value include BAKER BROS. ADVISORS, BlackRock, DODGE & COX, based on the most recent SEC filings. INCY trades on the Nasdaq exchange and files with the SEC under CIK 879169. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate INCY daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for INCYTE CORP directly from SEC EDGAR. INCYTE CORP's 13F Pro composite quality score has ranged between 41 and 82 since 2021, currently 77.4 — an improving long-term trajectory across 67 quarterly and live scoring snapshots.

✦

Fun facts about INCYTE CORP

Quirks, history, and lore behind INCY — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. biopharmaceutical company · mid-cap · listed on Nasdaq · headquartered in Delaware.
2
The Numbers
Annual revenue in the range of $3–4 billion, generated almost entirely from a single blockbuster franchise — a rare feat of therapeutic focus.
3
The History
Founded in the late 1980s and spent its early decades as a classic development-stage biotech before finally striking gold with a first-in-class approval in the 2010s.
4
The Secret
Its signature drug works by blocking JAK enzymes — proteins that drive inflammation — making it a pioneer in a now-crowded class of oral targeted therapies.
5
The Lore
It co-developed its lead compound with Eli Lilly, then bought Lilly out — a bold bet that paid off handsomely when the drug became a top-selling treatment for myelofibrosis and polycythemia vera.
6
The Giveaway
The word Jakafi — a JAK inhibitor approved for rare blood cancers and graft-versus-host disease — is basically this Delaware biotech's entire identity.

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What's Driving INCY's Business? Latest 10-Q Breakdown

✓ 24/24 datapoints verified

AI-extracted from INCYTE CORP's 10-Q filed 2026-07-28 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Q2 revenue jumped 37% YoY to $1,674M driven by JAKAFI growth and a $246M CMS settlement on OPZELURA, with net income nearly doubling to $586M.

Biggest Revenue Drivers

Net sales$1,488.1M+40% YoY

JAKAFI volume increased 9% YoY; OPZELURA included $246.0M CMS litigation settlement benefit; NIKTIMVO, MONJUVI/MINJUVI and ZYNYZ showed strong uptake.

Product royalty revenues$174.7M+16% YoY

JAKAVI royalties increased as Novartis reported higher international sales of ruxolitinib.

Biggest Revenue Drivers

Total revenue: $1,674.0M+37% YoY

Net sales$1,488.1M+40% YoY

JAKAFI volume increased 9% YoY; OPZELURA included $246.0M CMS litigation settlement benefit; NIKTIMVO, MONJUVI/MINJUVI and ZYNYZ showed strong uptake.

Product royalty revenues$174.7M+16% YoY

JAKAVI royalties increased as Novartis reported higher international sales of ruxolitinib.

Milestone and contract revenues$11.2M+124% YoY

Developmental milestones from third-party collaborators and out-licensing arrangements.

Largest Expense Items

Research and development$517.0M+4% YoY

Increased salary and benefits due to headcount expansion; continued investment in late-stage development assets including clinical trials.

Selling, general and administrative$351.7M+6% YoY

Increased salary and benefits reflecting higher headcount to support commercial operations.

Cost of sales$105.0M+33% YoY

Growth in net sales and NIKTIMVO profit share obligations to Syndax under co-commercialization agreement.

Margins: Gross margin improved significantly, benefiting from the $246M CMS litigation settlement that reduced Medicaid rebate liabilities on OPZELURA. Operating margin expanded as operating income grew 32% YoY to $697.9M, with operating leverage from higher volumes on commercial products partially offset by R&D investments.

Watch Items from the Filing

JAKAFI patent exclusivity expires mid/late 2028; revenues expected to decline upon generic entry. JAKAFI represented ~49% of Q2 net sales.
Top six customers (A–F) represent 63% of accounts receivable as of June 30, 2026; concentration risk with specialty pharmacies and wholesalers for product distribution.
CMS litigation settlement removes $246M one-time benefit and improves OPZELURA's future gross margins by eliminating line-extension rebate accruals; go-forward gross-to-net expected to improve.
Multiple ANDA/NDA challenge filings received from generic manufacturers (Apotex, Hikma, Sun, Granules, Dr. Reddy's, Eugia, Alkem, Alembic, MSN) for JAKAFI; settlement agreements signed with five; actions against others pending.
Subsequent event (July 6, 2026): Completed $1.25B acquisition of Vega Therapeutics for latarcibart (von Willebrand disease), with up to $750M in sales milestone payments; recognized as asset acquisition expensed to R&D.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$1.3B

Net Income

Q1 2026

$303.3M

Operating Margin

Q1 2026

23.7%

ROIC

Q1 2026

21.4%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+21.2% YoY

$5.14BFY 2025

FY22 $3.39BFY23 $3.70BFY24 $4.24BFY25 $5.14B

Net Income

+3845.0% YoY

$1.29BFY 2025

FY22 $340.7MFY23 $597.6MFY24 $32.6MFY25 $1.29B

Operating Income

+2368.6% YoY

$1.51BFY 2025

FY22 $579.4MFY23 $620.5MFY24 $61.4MFY25 $1.51B

EPS (Diluted)

+4173.3% YoY

$6.41FY 2025

FY22 $1.52FY23 $2.65FY24 $0.15FY25 $6.41

Total Assets

+27.8% YoY

$6.96BFY 2025

FY22 $5.84BFY23 $6.78BFY24 $5.44BFY25 $6.96B

Op. Cash Flow

+321.5% YoY

$1.41BFY 2025

FY22 $969.9MFY23 $496.5MFY24 $335.3MFY25 $1.41B

Free Cash Flow

—FY 2025

FY22 $892.1MFY23 —FY24 —FY25 —

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$5.14B +21.2%	$4.24B +14.8%	$3.70B +8.9%	$3.39B +13.7%	$2.99B +12.0%	$2.67B
Net Income	$1.29B +3845.0%	$32.6M -94.5%	$597.6M +75.4%	$340.7M -64.1%	$948.6M +420.8%	$-295.7M
Operating Income	$1.51B +2368.6%	$61.4M -90.1%	$620.5M +7.1%	$579.4M -1.1%	$585.8M +322.2%	$-263.7M
EPS (Diluted)	$6.41 +4173.3%	$0.15 -94.3%	$2.65 +74.3%	$1.52 -64.4%	$4.27 +414.0%	$-1.36
Total Assets	$6.96B +27.8%	$5.44B -19.7%	$6.78B +16.1%	$5.84B +18.4%	$4.93B +38.5%	$3.56B
Operating Cash Flow	$1.41B +321.5%	$335.3M -32.5%	$496.5M -48.8%	$969.9M +29.4%	$749.5M +701.5%	$-124.6M
Free Cash Flow	—	—	—	$892.1M +56.9%	$568.5M +282.2%	$-312.0M

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Available Research

13F Pro tracks comprehensive data for INCYTE CORP including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of INCY

BAKER BROS. ADVISORS LP
$3.5B30,762,330 sh
BlackRock, Inc.
$2.0B18,032,718 sh
DODGE & COX
$1.4B11,957,326 sh
VANGUARD CAPITAL MANAGEMENT LLC
$1.2B11,024,289 sh
STATE STREET CORP
$1.1B9,722,336 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$883.2M7,791,091 sh
AQR CAPITAL MANAGEMENT LLC
$603.2M5,320,901 sh
GEODE CAPITAL MANAGEMENT, LLC
$536.5M4,750,735 sh
LSV ASSET MANAGEMENT
$467.5M4,123,759 sh
Invesco Ltd.
$462.6M4,080,461 sh

Fund	Value	Shares
BAKER BROS. ADVISORS LP	$3.5B	30,762,330
BlackRock, Inc.	$2.0B	18,032,718
DODGE & COX	$1.4B	11,957,326
VANGUARD CAPITAL MANAGEMENT LLC	$1.2B	11,024,289
STATE STREET CORP	$1.1B	9,722,336
VANGUARD PORTFOLIO MANAGEMENT LLC	$883.2M	7,791,091
AQR CAPITAL MANAGEMENT LLC	$603.2M	5,320,901
GEODE CAPITAL MANAGEMENT, LLC	$536.5M	4,750,735
LSV ASSET MANAGEMENT	$467.5M	4,123,759
Invesco Ltd.	$462.6M	4,080,461

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Is INCY a good stock to buy?

13F Pro's AI-powered analysis of INCYTE CORP (INCY) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for INCY are available on the INCY stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. INCY is classified as a large company.

Which hedge funds own INCY?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling INCY. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of INCYTE CORP's investment landscape.