Incyte's Q2 Earnings: Wider Than Expected Loss, Pipeline Review, Lifts Jakafi Sales Guidance
Portfolio Pulse from Vandana Singh
Incyte Corporation (NASDAQ: INCY) reported Q2 revenue of $1.04 billion, beating expectations, but posted a wider-than-expected EPS loss of $(1.82). Jakafi sales guidance was raised, and Opzelura showed strong growth. The company announced a strategic pipeline review and positive Phase 3 results for retifanlimab. William Blair maintains an Outperform rating with a $89 price target.
July 30, 2024 | 4:57 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Incyte reported Q2 revenue of $1.04 billion, beating expectations, but posted a wider-than-expected EPS loss of $(1.82). Jakafi sales guidance was raised, and Opzelura showed strong growth. The company announced a strategic pipeline review and positive Phase 3 results for retifanlimab. William Blair maintains an Outperform rating with a $89 price target.
Despite beating revenue expectations, Incyte's wider-than-expected EPS loss and the stock's 4.08% decline indicate mixed investor sentiment. However, raised Jakafi sales guidance, strong Opzelura growth, and positive Phase 3 results for retifanlimab are positive indicators. William Blair's maintained Outperform rating and $89 price target suggest long-term confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100