Incyte (NASDAQ:INCY) Given New $117.00 Price Target at Royal Bank Of Canada

Incyte (NASDAQ:INCY) had its price objective increased by Royal Bank Of Canada from $114.00 to $117.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a sector perform rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently issued reports on INCY. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a report on Friday, September 11th. HC Wainwright reissued a “buy” rating on shares of Incyte in a research note on Tuesday. Guggenheim upped their price target on shares of Incyte from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen downgraded shares of Incyte from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Finally, Piper Sandler raised their price target on shares of Incyte from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Twelve analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $132.90.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $120.39 on Friday. Incyte has a 1 year low of $89.25 and a 1 year high of $132.60. The firm has a market capitalization of $24.40 billion, a price-to-earnings ratio of 55.09, a price-to-earnings-growth ratio of 4.83 and a beta of 0.74. The business’s 50 day moving average price is $120.49 and its 200-day moving average price is $108.14.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported ($3.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.93) by $0.33. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Incyte had a net margin of 6.71% and a return on equity of 7.92%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 EPS. On average, sell-side analysts expect that Incyte will post 1.97 earnings per share for the current year.

Insider Activity at Incyte

In other news, insider Pablo Cagnoni sold 10,801 shares of Incyte stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the transaction, the insider owned 183,200 shares in the company, valued at $23,002,592. The trade was a 5.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Incyte

A number of institutional investors have recently bought and sold shares of INCY. BlackRock Inc. purchased a new stake in shares of Incyte in the 2nd quarter valued at approximately $2,044,189,000. Wellington Management Group LLP raised its position in shares of Incyte by 9.5% during the 2nd quarter. Wellington Management Group LLP now owns 3,575,521 shares of the biopharmaceutical company’s stock valued at $405,321,000 after buying an additional 309,385 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Incyte by 10.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,975,544 shares of the biopharmaceutical company’s stock valued at $185,873,000 after buying an additional 187,354 shares during the period. Pacer Advisors Inc. lifted its holdings in Incyte by 2.2% in the first quarter. Pacer Advisors Inc. now owns 1,741,061 shares of the biopharmaceutical company’s stock valued at $163,869,000 after acquiring an additional 37,790 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Incyte in the second quarter valued at approximately $182,054,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Key Incyte News

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: Incyte reported third-quarter revenue of $1.56 billion, up 14% year over year and above the $1.46 billion analyst estimate. Adjusted loss of $3.60 per share was narrower than expected, helping support the stock. INCY Q3 Loss Narrower Than Expected, Sales Beat, FY’26 View Raised
• Positive Sentiment: The company raised 2026 total net-sales guidance to $5.21 billion-$5.30 billion, from $5.13 billion-$5.26 billion previously. Opzelura guidance was also increased to $1.10 billion-$1.12 billion, reflecting continued demand. Incyte signals 2026 net sales outlook as Opzelura guidance rises
• Positive Sentiment: Product trends were favorable: Opzelura sales rose 36% to $255 million, while hematology and oncology portfolio sales increased 38% to $235 million. Jakafi and Jakafi XR sales grew 4% to $827 million. Incyte Reports $1.56 Billion Third-Quarter Revenue and Raises 2026 Sales Guidance
• Positive Sentiment: Barclays raised its price target from $139 to $143 and maintained an “overweight” rating, implying substantial upside and reinforcing the bullish reaction. Barclays Incyte analyst recommendation
• Neutral Sentiment: Wells Fargo lowered its target slightly to $127 and kept an “equal weight” rating, while RBC raised its target to $117 but retained a “sector perform” rating. The changes indicate limited conviction among some analysts. Wells Fargo Incyte analyst recommendation
• Negative Sentiment: Incyte posted a GAAP loss largely because of a $1.23 billion in-process research and development charge tied to the Vega Therapeutics acquisition. The unusual charge obscures underlying operating strength and may keep investors focused on acquisition execution. Incyte Posts Q3 Loss on Vega Acquisition Charge

Incyte Company Profile

Incyte Corporation is a biopharmaceutical company that discovers, develops and commercializes medicines for oncology and inflammatory or autoimmune diseases. The company focuses on therapies that target specific biological pathways, including Janus kinase (JAK), fibroblast growth factor receptor (FGFR) and other mechanisms involved in cancer and immune-related conditions.

Its key products include Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain blood cancers and graft-versus-host disease; Opzelura (ruxolitinib cream), a topical treatment for atopic dermatitis and nonsegmental vitiligo; and Pemazyre (pemigatinib), an FGFR inhibitor approved for selected patients with cholangiocarcinoma and certain myeloid or lymphoid neoplasms.