Incyte Corp. Stock Down Despite Market Surge

Incyte Corp.'s stock price declined 1.72% to $85.04 on Friday despite a positive day for the market. The S&P 500 Index rose 1.52% to 6,466.91 and the Dow Jones Industrial Average rose 1.89% to 45,631.74. The stock's decline ended a three-day winning streak.

Incyte Corp.'s (INCY) stock price declined by 1.72% to $85.04 on Friday, despite a positive trading session for the broader market. The S&P 500 Index (SPX) rose by 1.52% to 6,466.91, and the Dow Jones Industrial Average (DJIA) increased by 1.89% to 45,631.74. The stock's decline ended a three-day winning streak, with Incyte Corp. closing 2.52% below its 52-week high of $87.24, which was reached on August 18th [1].

The performance of Incyte Corp. was mixed when compared to its competitors. Alnylam Pharmaceuticals Inc. (ALNY) fell by 2.82% to $454.38, Bio-Techne Corp. (TECH) rose by 5.72% to $57.09, and BioMarin Pharmaceutical Inc. (BMRN) increased by 0.88% to $58.58. Trading volume for Incyte Corp. remained 329,510 below its 50-day average volume of 1.8 million shares [1].

Incyte Corp. has shown strong performance over the past year, with its shares outperforming the broader market. The company has gained 35.1% over this period, compared to the S&P 500 Index's 14.3% rise. In 2025, Incyte Corp. stock is expected to rise by 23.7%, surpassing the S&P 500 Index's 9% increase on a year-to-date basis. The company's outperformance is attributed to strong sales of its lead drug, Jakafi, and the successful launch of Opzelura cream. Recent FDA approvals for new treatments, including Zynyz and Niktimvo, have also contributed to its success [2].

Analysts remain bullish on Incyte Corp. stock, with 27 analysts covering the stock, and a consensus rating of "Moderate Buy." This rating is based on 12 "Strong Buy" ratings, 14 "Holds," and one "Strong Sell." The Street-high price target of $110 suggests a 28.7% upside potential from the current levels [2].

References:
[1] https://www.marketwatch.com/data-news/incyte-corp-stock-outperforms-competitors-despite-losses-on-the-day-ceafa0e7-6f8dd7116b75
[2] https://finance.yahoo.com/news/wall-street-analysts-predicting-incyte-125518324.html