Incyte (INCY) Extends Climb, Hits New High on Bullish Coverage

Core Insights - Incyte Corp. (NASDAQ: INCY) has reached a new all-time high, driven by positive investor sentiment following a bullish upgrade from Guggenheim [1][2] - The stock price increased by 8.65% to close at $101.57 after hitting an intra-day high of $101.79 [1] - Guggenheim has set a new price target of $125 for Incyte, indicating a potential upside of 23% from its latest closing price [2] Financial Performance - Incyte Corp. reported a significant increase in net income for Q3, quadrupling to $424 million from $106 million year-on-year [2] - Revenues for the same period rose by 19%, reaching $1.37 billion compared to $1.14 billion in the previous year [2] Future Guidance - For the full-year 2025, Incyte has raised its revenue guidance to between $4.23 billion and $4.32 billion, reflecting increased demand for its products [3] - The company expects revenues from Jakafi, its cancer treatment, to be between $3.05 billion and $3.075 billion, while hematology and oncology products are projected to generate $550 million to $575 million [3]