INCY - Incyte's Increase In Jakafi's Sales Guidance Implies 29% Upside In The Valuation

• Incyte Corporation runs a biopharmaceutical business with several commercialized products.
• The company does not only envisage that Jakafi may bring close to $3 billion in peak sales. Monjuvi is also expected to report $500-$750 million in sales.
• Notice that Pemazyre experienced 312% sales growth, and Jakafi showed 9% sales growth. The company is also experiencing significant revenue growth thanks to royalties from Jakafi and other two products.
• With capital expenditures close to $217 million, the FCF would increase from around $481 million in 2022 to more than $831 million in 2031. Market estimates include 2023 sales of more than $1 billion.
• If we also include more agreements with other companies in new jurisdictions, I believe that the implied share price could be as large as $100.

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