Incyte Corp

INCY: XNAS (USA)

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Incyte Earnings: Strong Opzelura Demand Drives Sales; Well Positioned Against Potential US Tariffs

Rachel Elfman

Apr 29, 2025

Incyte reported first-quarter revenue in line with our expectations, with total revenue of $1.05 billion up 20% year over year. Management slightly increased its guidance by about 1% at the midpoint for its leading hematology drug, Jakafi (for the treatment of myelofibrosis and polycythemia vera). We forecast total company sales in 2025 will reach $4.7 billion, representing nearly 12% growth year over year, and we maintain our fair value estimate of $71 per share.

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Incyte Corp

Incyte Earnings: Strong Opzelura Demand Drives Sales; Well Positioned Against Potential US Tariffs

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