In a report released yesterday, Evan Seigerman from BMO Capital maintained a Sell rating on Incyte, with a price target of $60.00.
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Evan Seigerman has given his Sell rating due to a combination of factors impacting Incyte’s financial outlook. Despite positive earnings in the second quarter of 2025 and strong growth in certain assets like Niktimvo, there are concerns about Incyte’s ability to sustain long-term growth. The company’s modest cash reserves may limit its capacity to pursue external growth opportunities, which is crucial for future expansion.
Furthermore, while Jakafi has shown robust demand in the short term, its long-term revenue prospects remain uncertain as the 2028 loss of exclusivity approaches. The anticipated competition from AbbVie’s Rinvoq could also challenge Incyte’s position in the market, particularly affecting povorcitinib. Additionally, while there is growth potential in Opzelura and other assets, these are not expected to fully compensate for the potential revenue decline from Jakafi. These factors collectively underpin the Sell rating, reflecting a cautious outlook on Incyte’s future performance.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INCY in relation to earlier this year.