Royal Bank of Canada has reduced its price target for Incyte (NASDAQ:INCY) to $92.00 from $95.00, maintaining a “sector perform” rating due to softer 2026 product-revenue guidance and concerns over Jakafi patent exposure. Despite beating revenue estimates with $1.51 billion in Q4, Incyte missed EPS expectations at $1.80, leading to a consensus “Hold” rating among analysts with an average price target of $103.94. Insider selling has also occurred, contrasting with significant institutional ownership of approximately 97%.
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Royal Bank Of Canada Cuts Incyte (NASDAQ:INCY) Price Target to $92.00
Royal Bank of Canada has reduced its price target for Incyte (NASDAQ:INCY) to $92.00 from $95.00, maintaining a “sector perform” rating due to softer 2026 product-revenue guidance and concerns over Jakafi patent exposure. Despite beating revenue estimates with $1.51 billion in Q4, Incyte missed EPS expectations at $1.80, leading to a consensus “Hold” rating among analysts with an average price target of $103.94. Insider selling has also occurred, contrasting with significant institutional ownership of approximately 97%.