15 Small-Cap Healthcare Stocks Hedge Funds Are Buying

11. Incyte Corporation (NASDAQ:INCY)

No. of Hedge Fund Holders: 49

Market Capitalization: $11.80 Billion

Analyst Upside: 18.21%

Incyte Corporation (NASDAQ:INCY) is a biopharmaceutical firm focused on the discovery, development, and commercialization of therapeutics. The company operates in two therapeutic areas, including Haematology, and Inflammation and Autoimmunity. In Haematology, Incyte deals with diseases linked to bone marrow and bone marrow transplant, while the Inflammation and Autoimmunity includes its Dermatology commercial franchise.

Incyte Corporation (NASDAQ:INCY) had a good start to 2025 with strong financial performance during Q1. The company’s total revenue reached $1.05 billion, up by 20% from a year ago and beating estimates by $55.28 million. The adjusted earnings came in at $1.16 per share, surpassing the consensus estimate by $0.11. This growth was driven by net revenue increases in Incyte’s leading medications, including Jakafi and Opzelura. Jakafi’s net revenue was reported to be around $709 million, a 24% increase year-over-year. Opzelura’s revenue increased 38% from a year ago, fueled by growth in the U.S. and European markets. In addition, the company also completed the successful launch of Niktimvo, a treatment for adults and children with chronic graft-versus-host disease (cGVHD) weighing at least 40 kg. Niktimvo contributed almost $14 million to net product revenue in Q1. Incyte is planning to improve its pipeline and launch multiple products in 2025, reflecting potential for future growth.