Incyte (NASDAQ:INCY) Given New $127.00 Price Target at Wells Fargo & Company

Incyte (NASDAQ:INCY) had its price target reduced by Wells Fargo & Company from $128.00 to $127.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the biopharmaceutical company’s stock.

Other analysts have also issued reports about the stock. Wall Street Zen lowered shares of Incyte from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Piper Sandler raised their target price on shares of Incyte from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. HC Wainwright restated a “buy” rating on shares of Incyte in a research report on Tuesday. Weiss Ratings cut Incyte from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Finally, JPMorgan Chase & Co. upped their price target on Incyte from $120.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, September 28th. Twelve research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $132.90.

Incyte Stock Performance

INCY opened at $120.39 on Friday. Incyte has a one year low of $89.25 and a one year high of $132.60. The stock’s fifty day moving average is $120.49 and its 200-day moving average is $108.14. The company has a market capitalization of $24.40 billion, a PE ratio of 55.09, a P/E/G ratio of 4.83 and a beta of 0.74.

Incyte (NASDAQ:INCY) last announced its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($3.60) earnings per share for the quarter, beating the consensus estimate of ($3.93) by $0.33. Incyte had a return on equity of 7.92% and a net margin of 6.71%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the business posted $2.26 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. On average, equities research analysts forecast that Incyte will post 1.97 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Pablo Cagnoni sold 10,801 shares of Incyte stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total value of $1,356,173.56. Following the transaction, the insider owned 183,200 shares of the company’s stock, valued at approximately $23,002,592. This trade represents a 5.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Institutional Trading of Incyte

A number of hedge funds have recently bought and sold shares of the company. Fiduciary Financial Advisors acquired a new stake in shares of Incyte during the second quarter valued at approximately $26,000. Provenance Wealth Advisors LLC acquired a new position in Incyte in the 3rd quarter worth approximately $33,000. Continuum Advisory LLC purchased a new position in Incyte during the 2nd quarter worth approximately $36,000. Latitude Advisors LLC purchased a new position in Incyte during the 3rd quarter worth approximately $39,000. Finally, Quantbot Technologies LP purchased a new position in Incyte during the 2nd quarter worth approximately $52,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte News Roundup

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

About Incyte

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.