Incyte Corp's stock price fell by 5.02% today, crossing below the 5-day SMA, amid a broader market decline with the Nasdaq-100 down 0.80% and the S&P 500 down 0.11%.
The decline in Incyte's stock comes despite the positive news regarding its tafasitamab trial, which achieved key milestones in treating diffuse large B-cell lymphoma (DLBCL). The trial met its primary endpoint, indicating significant potential efficacy, and Incyte plans to file a supplemental Biologics License Application for tafasitamab in the first half of 2026. However, analyst William Blair notes that the competitive landscape may limit the drug's market potential due to several competing therapies currently in Phase 3 trials.
This situation highlights the challenges Incyte faces in capitalizing on its promising trial results, as the stock's performance is affected by broader market trends and competitive pressures in the oncology space.
Wall Street analysts forecast INCY stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for INCY is 100.31 USD with a low forecast of 73.00 USD and a high forecast of 125.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
Wall Street analysts forecast INCY stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for INCY is 100.31 USD with a low forecast of 73.00 USD and a high forecast of 125.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Buy
9 Hold
1 Sell
Moderate Buy
Current: 101.180
Low
73.00
Averages
100.31
High
125.00
Current: 101.180
Low
73.00
Averages
100.31
High
125.00
Wells Fargo
Overweight -> Equal Weight
downgrade
$107
2026-01-20
Reason
Wells Fargo
Price Target
$107
AI Analysis
2026-01-20
downgrade
Overweight -> Equal Weight
Reason
Wells Fargo downgraded Incyte to Equal Weight from Overweight with a $107 price target.
Wells Fargo
Overweight -> Equal Weight
downgrade
$116 -> $107
2026-01-20
Reason
Wells Fargo
Price Target
$116 -> $107
2026-01-20
downgrade
Overweight -> Equal Weight
Reason
Wells Fargo downgraded Incyte to Equal Weight from Overweight with a price target of $107, down from $116. The firm says its upgrade thesis has largely played out. Given few material catalysts in the near-term, the stock is likely to be range bound from here, the analyst tells investors in a research note.
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Goldman Sachs
Neutral
maintain
$80 -> $90
2026-01-08
Reason
Goldman Sachs
Price Target
$80 -> $90
2026-01-08
maintain
Neutral
Reason
Goldman Sachs raised the firm's price target on Incyte to $90 from $80 and keeps a Neutral rating on the shares. After strong sector performance in 2025 driven by market dynamics, easing policy risks, and improving fundamentals, momentum is expected to continue in 2026 as these factors and their secondary effects, such as M&A, persist, the analyst tells investors in a research note.
Truist
Srikripa Devarakonda
Hold
maintain
$93 -> $103
2025-12-24
Reason
Truist
Srikripa Devarakonda
Price Target
$93 -> $103
2025-12-24
maintain
Hold
Reason
Truist analyst Srikripa Devarakonda raised the firm's price target on Incyte to $103 from $93 and keeps a Hold rating on the shares. The firm is updating its model to reflect credit to mCALR in ET - Essential Thrombocythemia - and MF - Myelofibrosis - given supporting proof of concept data, recent ET FDA breakthrough therapy designation and anticipated initiation of ET pivotal trial in 2026, the analyst tells investors in a research note.
About INCY
Incyte Corporation is a biopharmaceutical company, which is focused on the discovery, development, and commercialization of therapeutics. The Company operates in two therapeutic areas. One therapeutic area is Hematology/Oncology, which is comprised of Myeloproliferative Neoplasms and Graft-Versus-Host Disease, as well as solid tumors and hematologic malignancies. Its other therapeutic area is Inflammation and Autoimmunity, which includes its Dermatology commercial franchise. Its hematology and oncology franchise are comprised of six products, which are JAKAFI (ruxolitinib), MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), PEMAZYRE (pemigatinib), ICLUSIG (ponatinib), NIKTIMVO (axatilimab-csfr), and ZYNYZ (retifanlimab-dlwr), as well as numerous clinical development programs. The Company's pipeline also includes two first-in-class small molecule antagonist of Mas-related G protein-coupled receptor (MRGPRX2) and INCB000547, an oral MRGPRX4 antagonist.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
