INCY

AI Research

Jefferies downgrade to Hold → target cut to $94 from $120 on mixed clinical signals

Incyte received a downgrade from Jefferies to Hold with a reduced $94 price target, citing limited near-term catalysts despite EU approval for oncology drug Zynyz. The stock trades at ~$93, suggesting limited upside at current levels, while Jakafi sales remain the primary revenue driver. With 16 analysts maintaining a Buy consensus, there is a divergence between institutional sentiment and recent sell-side caution.