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Investing.com - Truist Securities raised its price target on Incyte (NASDAQ:INCY) to $79.00 from $73.00 while maintaining a Hold rating on the stock. According to InvestingPro data, the stock is currently trading near its Fair Value, with analyst targets ranging from $52 to $107.
The price target increase follows Incyte’s second-quarter 2025 earnings report, which exceeded both top and bottom line consensus expectations. Jakafi sales reached $764 million for the quarter, surpassing the consensus estimate of $743 million. The company’s overall revenue growth stands at 17.13% over the last twelve months, with InvestingPro analysis showing strong financial health metrics and a robust balance sheet with more cash than debt.
Incyte also raised its full-year 2025 guidance, increasing projected Jakafi sales by $50 million and lifting its forecast for other oncology products to $500-520 million from the previous range of $415-455 million.
Truist Securities noted that while increased demand for Jakafi exceeded expectations, the looming loss of exclusivity (LOE) for the drug remains a significant concern, leading the firm to maintain its Hold rating.
The analyst acknowledged that strong commercial launches of Niktivmo and Opzelura demonstrate growth and positive momentum, but suggested investors may need to see continued commercial execution and positive data from key programs like mCALR before becoming more optimistic about Incyte’s long-term value.
In other recent news, Incyte Corporation reported its second-quarter earnings for 2025, showing a mixed financial performance. The company revealed product revenues of $1.06 billion, falling short of the forecasted $1.15 billion. Despite this revenue miss, the market reacted positively due to strong product growth and increased guidance for key products. Notably, Niktimvo generated $36 million in revenue, marking a significant 166% quarter-over-quarter increase that surpassed market expectations. In light of these results, TD Cowen raised its price target for Incyte from $86 to $89, maintaining a Buy rating. The firm emphasized the robust performance across Incyte’s product portfolio, with particular attention to the impressive growth of Niktimvo. These developments indicate a positive outlook from analysts despite the revenue shortfall.
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