Bank of America Securities Maintains a Buy on Incyte Corporation (INCY)

Incyte Corporation (NASDAQ:INCY) is one of the most profitable biotech stocks to buy. Bank of America Securities analyst Tazeen Ahmad maintained a Buy rating on Incyte Corporation (NASDAQ:INCY) on October 22, setting a price target of $104. However, J.P. Morgan analyst Jessica Fye reiterated a Hold rating on Incyte Corporation (NASDAQ:INCY) on October 20.

Fye associated the rating with the company’s market position and current clinical developments, stating that while the early data for Incyte Corporation’s (NASDAQ:INCY) KRAS G12D inhibitor in pancreatic cancer is promising, it is still immature.

According to the analyst, elaborate results anticipated in H1 2026 would provide critical insights into its competitive edge. The key focus for its development is the safety profile, which seems acceptable to combine with chemotherapy. However, Fye reasoned that the competition in second-line pancreatic cancer is considered too advanced for Incyte Corporation (NASDAQ:INCY) to set out on a pursuit of monotherapy at the time.

Incyte Corporation (NASDAQ:INCY) is a biopharmaceutical company that discovers, develops, and commercializes proprietary therapeutics, focusing on oncology, hematology, inflammation, and autoimmunity therapeutic areas.

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Disclosure: None. This article is originally published at Insider Monkey.