William Blair analyst Matt Phipps has maintained their neutral stance on INCY stock, giving a Hold rating today.
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Matt Phipps has given his Hold rating due to a combination of factors related to Incyte’s current market position and future prospects. The company’s stock has seen a significant rise of 55% over the past six months, outpacing the XBI index, which increased by 40%. This surge reflects high investor expectations, particularly surrounding the mCALR antibody INCA033989. While the clinical development of this asset appears promising, it is uncertain whether upcoming data releases will further boost the stock in the short term.
Incyte’s management has expressed optimism about their pipeline, which includes several programs with potential blockbuster opportunities. However, not all these programs need to succeed for the company to achieve substantial revenue growth. Despite the positive outlook, Phipps maintains a cautious stance, awaiting additional data and Phase III design updates expected in 2026 before reassessing the stock’s potential. Consequently, he has opted to maintain a Hold rating, reflecting a balanced view of the company’s current achievements and future uncertainties.
In another report released today, RBC Capital also maintained a Hold rating on the stock with a $84.00 price target.
Based on the recent corporate insider activity of 105 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.