Incyte Showing a Credible Growth Path Beyond Jakafi's 2029 Loss of Exclusivity, Oppenheimer Says

MT Newswires Live10-30 23:58

Incyte (INCY) is demonstrating a credible path to growth beyond Jakafi's 2029 loss of exclusivity, supported by robust commercial performance and sustained pipeline progress, Oppenheimer said in a Thursday research report.

Comprehensive updates across the company's solid-tumor oncology pipelines at ESMO 2026 further de-risks oncology programs, analysts wrote.

Products excluding Jakafi products now make up over 35% of product sales, and the trend is likely to continue with Opzelura momentum and near-term povorcitinib launch, according to the note.

The company's core programs have unique mechanisms that could translate to commercial opportunities, with continued clinical evidence building conviction in development prospects, the investment firm said.

Oppenheimer upgraded the stock to outperform from perform and raised its price target to $144 per share from $120.

Price: 120.40, Change: +3.60, Percent Change: +3.08

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