Incyte Downgraded - Analyst Notes Intense Competition, Particularly In Larger Markets [Yahoo! Finance]
Incyte Corporation (INCY)
Last incyte corporation earnings: 2/13 07:00 am
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US:NASDAQ Investor Relations:
incyte.com/ir/investor-overview.aspx
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Source: Yahoo! Finance
In second quarter 2024, the drug generated sales of $705.9 million, +3% year-over-year, driven by a 9% increase in paid demand The analyst downgraded the stock from Buy to Hold, with a price target of $74, down from $83 With Jakafi's loss of exclusivity approaching, a key concern is whether Incyte's pipeline in immunology, inflammation (I&I), and oncology can compensate for the revenue decline expected from generic competition. While there is long-term growth potential in the company's pipeline—supported by strong Phase 2 data and opportunities for expansion into new indications or combination therapies—the challenge of mitigating the patent cliff remains significant. Additionally, Incyte faces intense competition, particularly in larger markets where it aims to establish a foothold, such as I&I and solid tumors. Truist emphasizes the significance of the late-stage results for Povorcitinib in hidradenitis suppurativa (HS), expected in the first half of 2025, as a key factor l
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INCY
News
- Incyte Gains 12.7% Year to Date: How Should You Play the Stock? [Yahoo! Finance]Yahoo! Finance
- Multiple Late-Breaking Data Presentations from Incyte’s Dermatology Portfolio will be Featured at the European Academy of Dermatology and Venereology (EADV) 2024 CongressBusiness Wire
- Incyte and Syndax Announce New England Journal of Medicine Publication of Data from Pivotal AGAVE-201 Trial of Niktimvo™ (axatilimab-csfr) in Chronic Graft-Versus-Host Disease [Yahoo! Finance]Yahoo! Finance
- Incyte Co. (NASDAQ: INCY) had its "hold" rating re-affirmed by analysts at Truist Financial Co.. They now have a $74.00 price target on the stock, down previously from $83.00.MarketBeat
- Incyte Co. (NASDAQ: INCY) had its "market perform" rating re-affirmed by analysts at JMP Securities.MarketBeat
INCY
Earnings
- 7/30/24 - Miss
INCY
Sec Filings
- 9/16/24 - Form 4
- 9/16/24 - Form 4
- 9/13/24 - Form 144
- INCY's page on the SEC website