Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Incyte (NASDAQ:INCY) and the best and worst performers in the immuno-oncology industry.

Over the next few years, immuno-oncology companies, which harness the immune system to fight illnesses such as cancer, faces strong tailwinds from advancements in precision medicine (including the use of AI to improve hit rates) and growing demand for treatments targeting rare diseases. However, headwinds such as rising scrutiny over drug pricing, regulatory unknowns, and competition from larger, more resourced pharmaceutical companies could weigh on growth.

The 4 immuno-oncology stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 3.5%.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 18.2% since the latest earnings results.

Weakest Q4: Incyte (NASDAQ:INCY)

Founded in 1991 and evolving from a genomics research firm to a commercial-stage drug developer, Incyte (NASDAQ:INCY) is a biopharmaceutical company that discovers, develops, and commercializes proprietary therapeutics for cancer and inflammatory diseases.

Incyte reported revenues of $1.18 billion, up 16.3% year on year. This print exceeded analysts’ expectations by 3%. Despite the top-line beat, it was still a slower quarter for the company with a significant miss of analysts’ EPS estimates.

"2024 was an important year for Incyte, with a 15% increase in total revenues, driven by strong growth from both Jakafi and Opzelura, as well as significant progress across our R&D pipeline," said Hervé Hoppenot, Chief Executive Officer, Incyte.

The stock is down 20.5% since reporting and currently trades at $59.

Read our full report on Incyte here, it’s free .

Best Q4: Natera (NASDAQ:NTRA)

Founded in 2003 as Gene Security Network before rebranding in 2012, Natera (NASDAQ:NTRA) develops and commercializes genetic tests for prenatal screening, cancer detection, and organ transplant monitoring using its proprietary cell-free DNA technology.

Natera reported revenues of $476.1 million, up 53% year on year, outperforming analysts’ expectations by 8.6%. The business had a stunning quarter with a solid beat of analysts’ EPS estimates and full-year revenue guidance exceeding analysts’ expectations.

Natera pulled off the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 18.9% since reporting. It currently trades at $127.08.