Should You Buy Incyte Corp (INCY) Today? Analysis, Price Targets, and 2026 Outlook.
Conclusion
Hold
Latest Price
101.080
1 Day change
-0.10%
52 Week Range
112.290
Analysis Updated At
2026/01/29
Incyte Corp (INCY) is not a strong buy for a beginner, long-term investor at the moment. While the company has shown strong financial performance in the latest quarter, the lack of significant near-term catalysts, neutral sentiment from hedge funds and insiders, and recent analyst downgrades suggest the stock may remain range-bound in the short term. The technical indicators also do not provide a clear bullish signal, and the options data reflects a balanced sentiment. For a long-term investor, it may be better to wait for a more favorable entry point or clearer growth catalysts.
Technical Analysis
The MACD is negative and expanding, indicating bearish momentum. RSI is neutral at 36.852, and moving averages are converging, suggesting no clear trend. The stock is trading near its support level (S1: 99.896), with resistance at R1: 107.33. Overall, the technical indicators do not suggest a strong buy signal.
Options Data
Bearish
Open Interest Put-Call Ratio
Neutral
Option Volume Put-Call Ratio
The options data shows a balanced sentiment with a put-call ratio of 1.51 in open interest and 1.0 in volume. Implied volatility is high (66.3) with an IV percentile of 98.4, indicating elevated uncertainty.
Technical Summary
Sell
6
Buy
5
Positive Catalysts
Strong financial performance in Q3 2025, with revenue up 20.05% YoY and net income up 298.45% YoY. Promising pipeline developments, including mCALR in ET and MF, with FDA breakthrough therapy designation and anticipated pivotal trials in 2026.
Neutral/Negative Catalysts
Lack of significant near-term catalysts as noted by analysts. Neutral sentiment from hedge funds and insiders, with no significant trading trends.
Financial Performance
In Q3 2025, Incyte reported strong financial growth: Revenue increased by 20.05% YoY to $1.37B, net income surged 298.45% YoY to $424.17M, and EPS rose 290.74% YoY to $2.11. Gross margin improved slightly to 92.75%.
Growth
Profitability
Efficiency
Analyst Ratings and Price Target Trends
Recent analyst ratings are mixed to slightly negative. Wells Fargo downgraded the stock to Equal Weight with a reduced price target of $107, citing a lack of near-term catalysts. Other analysts have raised price targets (e.g., Mizuho to $121, BofA to $118) based on pipeline potential, but these are longer-term growth drivers. The consensus suggests the stock may remain range-bound in the short term.
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 USD and a high forecast of 125 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 USD and a high forecast of 125 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
Averages
100.31
High
125
Current: 101.180
Low
73
Averages
100.31
High
125
Wells Fargo
Overweight -> Equal Weight
downgrade
$107
AI Analysis
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.
Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for INCY
