INCY shares surge 5.5% after-hours as Q4 earnings beat expected and Piper Sandler raises price target to $110.

Incyte surged 5.50% in after-hours trading following a combination of positive catalysts. The stock’s rise aligns with Piper Sandler’s raised price target to $110 (from $102) and an Overweight rating, reflecting heightened confidence in the company’s prospects. Additionally, expectations of a Q4 earnings beat were reinforced by strong Jakafi sales, new indications for Monjuvi, and robust performance of Zynyz, which recently secured regulatory backing in Europe. Analysts highlighted Incyte’s potential to exceed the Zacks Consensus Estimate of $1.94 per share, driven by revenue growth from key products and expanded market access. These factors collectively fueled investor optimism ahead of the February 10 earnings report, directly supporting the after-hours rally.