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Investing.com - BofA Securities raised its price target on Incyte (NASDAQ:INCY) to $109.00 from $104.00 on Tuesday, while maintaining a Buy rating following the company’s third-quarter results. The stock, which has gained over 47% in the past six months, currently trades near its 52-week high of $92.86, with InvestingPro analysis suggesting the shares remain undervalued.
Incyte reported Jakafi revenue of $791 million for the third quarter, representing a 2% quarter-over-quarter increase and exceeding both BofA’s estimate of $774 million and consensus expectations of $773 million.
The company’s Opzelura product generated $188 million in quarterly revenue, up 6% sequentially, also surpassing analyst projections of $178 million.
Based on these results, Incyte raised its full-year 2025 guidance for Jakafi to $3.05-3.075 billion from the previous range of $3.0-3.05 billion, and increased its hematology/oncology franchise guidance to $550-575 million from $500-520 million.
The company plans to submit bioequivalence data for ruxolitinib XR by year-end, with an expected launch in mid-2026, and anticipates that 15-30% of patients could switch to the extended-release formulation by 2028, providing some protection ahead of loss of exclusivity.
In other recent news, Incyte Corporation reported impressive third-quarter results for 2025, significantly exceeding analyst expectations. The company achieved an earnings per share (EPS) of $2.26, which was well above the anticipated $1.59, reflecting a surprise increase of 42.14%. Incyte’s revenue for the quarter reached $1.37 billion, surpassing forecasts by 9.6%. These results highlight a robust financial performance for the company. The positive earnings report has caught the attention of investors and analysts alike. While no specific analyst upgrades or downgrades were mentioned, the financial outcomes have positioned Incyte favorably in the eyes of market watchers. These developments are part of the recent series of events surrounding the company.
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