On May 22, 2026, Bernstein initiated coverage of Incyte Corporation (NasdaqGS: INCY) with a Market Perform recommendation. The average one-year price target for Incyte is projected at $110.72 per share, indicating a potential upside of 13.67% from its recent closing price of $97.41.
The projected annual revenue for Incyte is $4.91 billion, showing a decrease of 8.45%. Institutional ownership has seen a significant drop, with 835 funds reporting positions, down 494 (37.17%) from the previous quarter. Total institutional shares owned declined by 2.35% to 223,033K shares, with a put/call ratio of 1.21 reflecting a bearish sentiment.
Key institutional shareholders include Baker Bros. Advisors with 30,744K shares (15.39% ownership), and Dodge & Cox with 12,252K shares (6.13% ownership), both of which reported decreases in their holdings in the last quarter.
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