Is Incyte (INCY) Cheap After A 120% Three Year Run?

Incyte has logged a strong multi year share price performance, and the question now is whether the business can back up that move with the cash flows needed to justify today’s valuation. Over the past 3 years, Incyte has returned 120.2%, which puts a lot of weight on whether the underlying cash generation truly supports that kind of share price gain. Fresh oncology trial collaborations and upcoming late stage data readouts may shape expectations for how quickly Incyte can turn its pipeline...