TD Cowen Keeps Buy Rating on Incyte (INCY), Cites Roadmap to Triple Non-Jakafi Revenue by 2029

Incyte Corporation (NASDAQ:INCY) is one of the most undervalued quality stocks to buy right now. On January 13, TD Cowen raised its price target for Incyte to $128 from $101 with a Buy rating on the shares. The firm’s optimism follows Incyte’s presentation of a strategic roadmap aimed at potentially tripling its revenue, excluding Jakafi, by 2029. With several Phase 3 trial readouts and initiations scheduled, the firm views 2026 as a pivotal year for both execution and delivery for the company.

Furthermore, on January 8, Goldman Sachs raised the price target on Incyte to $90 from $80 with a Neutral rating. The firm anticipates that the positive momentum from 2025, fueled by favorable market dynamics, stabilizing policy risks, and stronger fundamentals, will persist into 2026. The firm noted that these factors, along with effects like increased M&A, are expected to continue driving the sector forward.

Earlier on December 24, Truist analyst Srikripa Devarakonda raised the firm’s price target on Incyte Corporation (NASDAQ:INCY) to $103 from $93 with a Hold rating. The revision reflected the inclusion of the company’s mutant calreticulin program for essential thrombocythemia and myelofibrosis into the firm’s financial model

Incyte Corporation (NASDAQ:INCY) is a biopharmaceutical company that discovers, develops, and commercializes therapeutics in the US, Europe, Canada, and Japan.

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