1 Growth Stock Under $100 to Buy Before It Soars

Core Insights - Incyte reported a strong quarter, exceeding Wall Street's revenue and earnings expectations, driven by its flagship drug Jakafi and a growing oncology pipeline [1][3] - The company is valued at $18.2 billion and has seen its stock price increase by 31.9% year-to-date, outperforming the broader market [1] Financial Performance - Incyte's total revenue for the third quarter reached $1.37 billion, reflecting a 20% year-over-year growth, attributed to increased demand for its therapies and a robust hematology and oncology portfolio [3] - Adjusted earnings surged by 111.2% to $2.26 per share, indicating significant profitability improvements despite rising costs [3] Product Performance - Jakafi generated $791 million in revenue, a 7% increase from the previous year, driven by strong patient demand and market dominance in myeloproliferative neoplasms [4] - Opzelura, a topical ruxolitinib cream, experienced a 35% revenue increase to $188 million, benefiting from its acceptance in treating atopic dermatitis and vitiligo [4] - The hematology-oncology portfolio, including Niktimvo, contributed $171 million to total revenue, with Niktimvo alone generating $46 million shortly after its launch [5] Financial Position - At the end of the quarter, Incyte maintained a solid financial position with $2.9 billion in cash, cash equivalents, and marketable securities [5]