15 Best Biotech Stocks to Buy According to Billionaires

8. Incyte Corporation (NASDAQ:INCY)

Number of Billionaires: 13 

Dollar Value of Billionaire Holdings: $2,939,417,214 

Incyte Corporation (NASDAQ:INCY) is a biopharmaceutical company at the forefront of biotechnology, focusing on drug discovery, clinical development, and commercialization of targeted therapies. It specializes in oncology, inflammation, and autoimmunity, investing heavily in research and development to expand its pipeline of innovative treatments. The company’s approved products like Jakafi and Opzelura showcase its commitment to addressing unmet medical needs with novel therapies.

For Q4 2024, Incyte Corporation (NASDAQ:INCY) reported strong financial results, with total revenue reaching $4.2 billion, a 15% increase from 2023. The growth was driven by higher sales of Jakafi, which saw net sales of $2.8 billion, up 8% from the previous year, and Opzelura, which grew by 50% to $508 million. As one of the best biotech stocks in the market, the company’s Q4 revenue was $1.2 billion, reflecting a 16% year-over-year increase. The company also ended the year with $2.2 billion in cash, providing financial flexibility for future investments and strategic initiatives.

Incyte Corporation (NASDAQ:INCY)’s R&D expenses rose to $466 million in Q4, reflecting the company’s ongoing commitment to advancing its pipeline. SG&A expenses also increased due to marketing efforts related to Monjuvi. Additionally, the business is making progress with Opzelura in treating prurigo nodularis, with Phase 3 data expected soon, potentially expanding its market reach.