Incyte Analysts Raise Their Forecasts After Upbeat Q2 Results

Incyte Corp. (NASDAQ: INCY ) on Tuesday reported better-than-expected second-quarter results and raised its full-year sales guidance.

The biopharmaceutical company reported adjusted earnings of $3.09 per share, beating the analyst consensus estimate of $2.12.

Revenue rose 38% year over year to $1.67 billion, topping the consensus estimate of $1.46 billion. "Our second quarter was marked by broad-based sales growth, continued pipeline progress and strategic business development," Chief Executive Officer Bill Meury said.

Incyte raised its 2026 total net sales guidance to a range of $5.13 billion to $5.26 billion, up from its previous forecast of $4.77 billion to $4.94 billion.

However, the updated outlook remains below the analyst consensus estimate of $5.712 billion.

Incyte shares fell 1.7% to trade at $127.75 on Wednesday.

These analysts made changes to their price targets on Incyte following earnings announcement.

HC Wainwright & Co. analyst Mitchell S.

Kapoor maintained the stock with a Buy and raised the price target from $140 to $150.

Barclays analyst Etzer Darout maintained the stock with an Overweight rating and raised the price target from $134 to $139.

BMO Capital analyst Evan Seigerman maintained the stock with a Market Perform and raised the price target from $112 to $130.

Guggenheim maintained the stock with a Buy and boosted the price target from $136 to $150 Considering buying INCY stock? Here’s what analysts think: Photo via Shutterstock