Marc Frahm, an analyst from TD Cowen, maintained the Buy rating on Incyte (INCY – Research Report). The associated price target was raised to $88.00.
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Marc Frahm has given his Buy rating due to a combination of factors including strong financial performance and optimistic future prospects for Incyte. The company reported impressive results for the fourth quarter, particularly with the success of its drugs Opzelura and Jakafi, which exceeded market expectations. Additionally, Incyte’s guidance for 2025 suggests continued robust performance, especially for Jakafi, while Opzelura’s guidance aligns closely with consensus expectations.
Further supporting this rating is the notable growth in Opzelura’s sales both in the U.S. and internationally. In the U.S., the drug has seen significant patient demand and refill rates, with promising future growth prospects, including potential expansion into pediatric use. Internationally, Opzelura’s sales have been strong in Europe and are expected to continue to grow as the product launches in additional markets. These factors contribute to a positive outlook for Incyte, reinforcing Marc Frahm’s Buy rating.
Based on the recent corporate insider activity of 80 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.