Key Stats for INCY Stock
- Price Change for INCY stock: -8%
- INCY Share Price as of Feb. 5: $100
- 52-Week High: $112.29
- INCY Stock Price Target: $104.36
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What Happened?
Incyte (INCY) stock fell 8% yesterday after the company reported mixed Q4 2025 results: revenue beat estimates but EPS missed expectations, and guidance disappointed investors.
Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics in the United States, Europe, Canada, and Japan, and offers JAKAFI (ruxolitinib) for the treatment of intermediate- or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease.
It has collaborated with Genesis Therapeutics, Inc., and the company sells its products to specialty and retail pharmacies, hospital pharmacies, and specialty distributors and wholesalers.
The company posted Q4 revenue of $1.51 billion, which was up 28% year on year, but adjusted EPS came in at $1.80, below the $1.92 consensus, and 2026 Opzelura sales guidance was set at $750 million to $790 million, short of the $816 million that was expected.
So investors focused on the misses, and the stock dropped accordingly, because the guidance highlighted concerns over margins and growth in the coming year.
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What the Market Is Telling Us About INCY Stock
The sharp drop in INCY stock shows investors worry about the EPS miss and weak guidance, but revenue grew strongly, so the core business holds up despite the challenges.
INCY reported full-year 2025 revenue of $5.14 billion, up 21%, and net product revenue hit $4.35 billion, up 20%, because the company beat its own product revenue guide.
Management sees 2026 product revenue at $4.77 billion to $4.94 billion, but Opzelura guide fell short, and margins narrowed to 22.3% from 25.6%, so expenses rose faster than sales.
The biotech sector faces patent risks, and Jakafi looms large as it drove much growth, but patents expire soon, and the pipeline needs to deliver, with 14 late-stage trials underway.
However, cash stands at $3.6 billion, so funding is solid, and tailwinds include new launches like Niktimvo, but headwinds are rising costs and competition.
Investors should watch pipeline updates closely because the company has no dividend, but buybacks totaled $500 million in 2025, and efficiency metrics improved, with ROE at 15%. But the capital structure is low, so the balance sheet is strong overall.
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How Much Upside Does INCY Stock Have From Here?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
