Incyte Corp. (NASDAQ:INCY) on Tuesday reported better-than-expected second-quarter results and raised its full-year sales guidance.

The biopharmaceutical company reported adjusted earnings of $3.09 per share, beating the analyst consensus estimate of $2.12. Revenue rose 38% year over year to $1.67 billion, topping the consensus estimate of $1.46 billion.

"Our second quarter was marked by broad-based sales growth, continued pipeline progress and strategic business development," Chief Executive Officer Bill Meury said.

Incyte raised its 2026 total net sales guidance to a range of $5.13 billion to $5.26 billion, up from its previous forecast of $4.77 billion to $4.94 billion. However, the updated outlook remains below the analyst consensus estimate of $5.712 billion.

Incyte shares fell 1.7% to trade at $127.75 on Wednesday.

These analysts made changes to their price targets on Incyte following earnings announcement.

• HC Wainwright & Co. analyst Mitchell S. Kapoor maintained the stock with a Buy and raised the price target from $140 to $150.
• Barclays analyst Etzer Darout maintained the stock with an Overweight rating and raised the price target from $134 to $139.
• BMO Capital analyst Evan Seigerman maintained the stock with a Market Perform and raised the price target from $112 to $130.
• Guggenheim maintained the stock with a Buy and boosted the price target from $136 to $150

Considering buying INCY stock? Here’s what analysts think:

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