Analyst Evan Seigerman from BMO Capital maintained a Sell rating on Incyte and keeping the price target at $75.00.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Evan Seigerman has given his Sell rating due to a combination of factors impacting Incyte’s financial outlook. Despite promising early data from Incyte’s mutCALR antibody program, the company’s revenue from Opzelura is expected to face challenges due to lower tube usage. Additionally, while assets such as povorcitinib and axatilimab show potential, they are not anticipated to compensate for the loss of exclusivity (LOE) that will affect Jakafi.
Furthermore, Jakafi’s growth is slowing down, even with its expanded indications in polycythemia vera (PV) and graft-versus-host disease (GVHD). Incyte’s capital allocation strategy also limits its business development capabilities, forcing the company to rely heavily on its existing pipeline. These factors collectively contribute to a less favorable outlook for Incyte’s stock, justifying the Sell rating.
According to TipRanks, Seigerman is a 5-star analyst with an average return of 9.8% and a 51.75% success rate. Seigerman covers the Healthcare sector, focusing on stocks such as Bristol-Myers Squibb, Novo Nordisk, and Pfizer.