William Blair Maintains ‘Hold' Rating on Incyte Corporation (INCY), Citing Future Revenue Uncertainties
A research doctor, looking intently at their microscope as they try to decipher the mysteries of immuno-oncology.
Citing uncertainties about the company's revenue outlook, particularly the long-term sustainability of Jakafi, William Blair analyst Matt Phipps maintained a 'Hold' rating on Incyte Corporation (NASDAQ:INCY). M&A speculations rose with the company's appointment of Bill Meury as CEO, who has a background in successful biotech exits. However, analysts remain cautious as the nearing Jakafi patent expiry weighs on sentiment. This expiry is expected to significantly cut the company's earnings. While the long-term outlook of the company remains healthy, as evident from the consensus analysts' estimated price target of $76, uncertainty regarding the company's ongoing R&D activities is contributing to a mixed short-term outlook.
With its operations across the U.S., Europe, Canada, and Japan, Incyte Corporation (NASDAQ:INCY) develops and commercializes therapies for oncology and inflammation. Its product portfolio includes Jakafi, Monjuvi, Pemazyre, and Opzelura. It is among the list of cheap stocks to buy.
While we acknowledge the potential of INCY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the .
READ NEXT: and 10 Best Marketing Stocks to Buy Right Now.
Disclosure: None.
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