Incyte (NASDAQ:INCY) Shares Gap Down After Earnings Miss

Incyte Corporation (NASDAQ:INCY)’s share price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $109.03, but opened at $103.00. Incyte shares last traded at $101.96, with a volume of 585,178 shares changing hands.

The biopharmaceutical company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.35 billion. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The company’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 earnings per share.

Key Headlines Impacting Incyte

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: Revenue and product sales beat estimates — Q4 revenue rose ~28%, driven by Jakafi and Opzelura strength, which supports near‑term cash flow and validates commercial execution. INCY Q4 Earnings Miss Estimates, Revenues Beat on Higher Product Sales
• Positive Sentiment: Management emphasized growth beyond Jakafi and pipeline progress on the earnings call, signaling strategic intent to diversify revenue sources over time. Incyte Earnings Call Highlights Growth Beyond Jakafi
• Neutral Sentiment: Full earnings/earnings call transcripts and slide deck are now public for investor review (details on metrics, guidance assumptions). Incyte Corporation (INCY) Q4 2025 Earnings Call Transcript
• Neutral Sentiment: Coverage and index mentions (Nasdaq Composite commentary) have increased visibility but are unlikely to move fundamentals immediately. Why Incyte (NASDAQ:INCY) Appears in Nasdaq Composite Index Coverage?
• Neutral Sentiment: Reported short‑interest data in the clip is inconsistent/zero and provides no clear signal about short pressure this filing window.
• Negative Sentiment: EPS missed consensus ($1.80 vs. ~$1.96) — investors focus on the profit miss even though revenue was strong, pressuring the multiple. Incyte (INCY) Q4 Earnings Lag Estimates
• Negative Sentiment: Management issued a soft 2026 revenue forecast and lower Opzelura guidance, heightening concern about whether new products can offset Jakafi patent expirations; analysts flagged increased risk to future sales. Incyte weak 2026 revenue forecast heightens Jakafi patent concerns
• Negative Sentiment: Market reaction: multiple outlets report the stock fell after the EPS miss and soft guidance — the headline price action reflects disappointment that growth drivers may not fully offset Jakafi risks. Incyte falls as Q4 results, 2026 revenue guidance disappoint

Wall Street Analysts Forecast Growth

INCY has been the subject of several research reports. Barclays boosted their price target on shares of Incyte from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Piper Sandler boosted their target price on Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a report on Thursday, January 22nd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $90.00 price objective on shares of Incyte in a research note on Thursday, January 8th. Finally, Mizuho set a $121.00 target price on shares of Incyte and gave the stock an “outperform” rating in a research note on Monday, December 8th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $103.29.

Insiders Place Their Bets

In other news, EVP Steven H. Stein sold 20,105 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the completion of the sale, the executive vice president owned 63,129 shares in the company, valued at approximately $6,471,353.79. The trade was a 24.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael James Morrissey sold 4,323 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $97.26, for a total transaction of $420,454.98. Following the completion of the transaction, the executive vice president directly owned 27,507 shares in the company, valued at $2,675,330.82. This trade represents a 13.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 95,225 shares of company stock worth $9,519,745 in the last three months. 17.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Incyte

A number of institutional investors and hedge funds have recently bought and sold shares of INCY. Cibc World Market Inc. acquired a new position in Incyte in the fourth quarter valued at $1,279,000. Sivia Capital Partners LLC increased its position in shares of Incyte by 1.9% during the fourth quarter. Sivia Capital Partners LLC now owns 14,118 shares of the biopharmaceutical company’s stock worth $1,394,000 after purchasing an additional 258 shares in the last quarter. Sound Shore Management Inc. CT lifted its holdings in shares of Incyte by 9.4% in the 4th quarter. Sound Shore Management Inc. CT now owns 929,832 shares of the biopharmaceutical company’s stock valued at $91,840,000 after purchasing an additional 79,976 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Incyte by 61.4% in the 4th quarter. CIBC Asset Management Inc now owns 40,478 shares of the biopharmaceutical company’s stock valued at $3,998,000 after purchasing an additional 15,397 shares during the period. Finally, Natixis Advisors LLC boosted its position in shares of Incyte by 31.8% in the 4th quarter. Natixis Advisors LLC now owns 44,730 shares of the biopharmaceutical company’s stock valued at $4,418,000 after purchasing an additional 10,795 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Down 8.2%

The stock has a market cap of $19.64 billion, a PE ratio of 16.76, a P/E/G ratio of 0.65 and a beta of 0.82. The business has a 50 day moving average of $101.80 and a 200-day moving average of $93.78. The company has a current ratio of 3.20, a quick ratio of 3.13 and a debt-to-equity ratio of 0.01.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.