Incy (NASDAQ:INCY) Surpasses Estimates with 27.8% Q4 Revenue Growth

Incyte Corporation (NASDAQ:INCY) reported Q4 CY2025 revenue of $1.51 billion, 27.8% higher than the prior-year period and $111 million above estimates. Non-GAAP profit of $1.80 per share was 6.1% below analyst consensus. Relative to a 17.9% annualized revenue growth over the past two years and a 14% CAGR over five years, this quarter’s results reflect strong momentum. Sell-side analysts project 7.3% revenue growth over the next 12 months and a 19.1% increase in full-year adjusted EPS to $6.79. Q4 operating margin contracted to 22.3% from 25.6% YoY as expenses outpaced sales, and shares fell 3.8% to $105.50 on the report. Long-term fundamentals remain strong, with a 17.3% average operating margin over five years and a positive EPS trendline. The stock is rated Buy by 2 of 3 analysts with a median price target of $110.