INCY · a US exchange · USD · Market cap $25.9B · 2,844 employees
Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics in the United States, Europe, Canada, and Japan.
FAIL · Does not pass the screen
127.81 USD
At the last full screen 2026-08-21
Screened 2026-08-21 · the tape above runs as of 23:26 UTC · 4 Sep · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its accumulation label.
Incyte holds its Accumulation at $127.81. The statistical read favours the buyers, held for 2 days.
As held on the ledger · 2026-08-21
Phase
Accumulation
Quantitative state
The statistical read favours the buyers, held for 2 days
Price at the screen
$127.81
Valuation
16.28 trailing · 14.30 forward price to earnings
Values screen
FAIL· score 10.0
Beta
0.77
The Workings
Five Screens, Shown in Full
Does not pass. Accounts receivable
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.58%
Below 33%
Interest-bearing debt is just 0.6% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.69%
Below 33%
Cash held in interest-bearing accounts and securities is 0.7% of assets, under the one-third limit.
Pass
Receivables
59.24%
Below 49%
Money owed to the company is 59.2% of assets, above the 49% limit.
Fail
Revenue purity
2.05%
Below 5%
Only 2.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads AVOID: it trades at roughly a 21% discount to our $155.00 fair value, strong competitive moat, 37.70% revenue growth.
Fair value range in USD, drawn from the 2026-08-21 screen. The gold marker is the market price at the same screen. A 21.3% margin of safety to the base estimate.
Third-party analyst targets: 23 covering, consensus Buy. The average target sits −2% from the screen price.
Reading the gap · Our model sees value the Street hasn't fully caught up to yet.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-08-21 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Strong numbers but the screen says no
Picture a patient in the US relying on a daily pill to manage a rare blood cancer. Incyte supplies that treatment and has built a strong moat with 21% revenue growth, 27% profit margins and 31% ROE. Yet we pass on the shares.
The ethical screen flags a clear fail on accounts receivable. That single issue overrides the attractive 13.4x forward earnings and the 18% gap to our fair value. Analyst targets sit even lower at $111, but the screen is decisive.
Risk sits with any biotech that stretches payment terms in a tightly regulated sector. Analysis, not advice.
The risks · The things to watch: as a biotechnology name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
INCY trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 1.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 50%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (24 analysts) rates it buy, with a mean price target of $127.
2026-08-02Markup · changed$129.93+26.9%Entry 4
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 26.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 50%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (23 analysts) rates it buy, with a mean price target of $110.
2026-07-18Accumulation$102.38+0.0%Entry 3
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 50%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (23 analysts) rates it buy, with a mean price target of $110.
2026-07-03Accumulation$102.38+0.0%Entry 2
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Accumulation$102.38Entry 1
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
