Incyte Presents New Data from Its Oncology Portfolio During the European Society of Medical Oncology Congress 2026

TD Cowen reaffirmed a Buy rating on Incyte with a $140 price target, suggesting a 20.1% upside from the Oct 20 close. Jakafi sales grew 8% YoY to $2.59B in 2023, with peak U.S. sales projected to exceed $3B. Incyte's pipeline, including Opzelura, is expected to drive future revenue growth.

Incyte (INCY) will present new oncology data at ESMO 2026, including updates on KRAS G12D and TGFβR2×PD-1 programs. The data will inform ongoing Phase 3 studies, according to the company. An investor webcast is scheduled for October 26 to discuss the data and portfolio updates.

H.C. Wainwright reiterated a Buy rating and $152 price target for Incyte (INCY) after Verastem's KRAS G12D inhibitor data. INCB161734, Incyte's drug, showed 41% response rate in pancreatic cancer trials. INCY trades at P/E 14.5, PEG 0.18, with a $23B valuation. Multiple firms updated price targets recently.

HC Wainwright & Co. reiterated a Buy rating on Incyte (INCY) with a $152 price target, suggesting a 36.5% upside from the Oct 12 close. The firm cited strong pipeline potential, particularly for drug INCB161734, with a 69% response rate in untreated patients and projected annual sales of $700 million in the U.S. G12D pancreatic cancer market.

Syndax Pharma's shares fell 17% pre-market after abandoning its IPF drug axatilimab, which failed a phase 2 trial. The drug, partnered with Incyte, is approved for cGVHD as Niktimvo. Incyte's shares also dipped slightly. Syndax reported $152M in 2025 revenue, with $115M in the first half of 2026.

Incyte (INCY) completed a Phase 1 study on oral povorcitinib and topical ruxolitinib cream, assessing drug movement and safety. The study, updated in October 2026, may support future trials and pipeline expansion in dermatology and immunology, though near-term revenue impact is uncertain.