Incyte stock price target maintained at $152 by H.C. Wainwright

Investing.com reports that H.C. Wainwright has maintained a Buy rating and $152 price target for Incyte (NASDAQ:INCY) stock. The firm cites competitive opportunities for Incyte's KRAS G12D-selective drug candidate INCB161734. The stock is trading at a low P/E ratio of 14.27 and PEG ratio of 0.18, indicating undervaluation. H.C. Wainwright analyzed FDA documents supporting the approval of Revolution Medicines' Rasonque (daraxonrasib) on October 8.

The review showed a 24% response rate in KRAS G12D pancreatic ductal adenocarcinoma patients compared to 50% in G12V patients, with similar progression-free survival benefits. Incyte's drug INCB161734 has produced responses in 69% of previously untreated patients across chemotherapy combinations. The company's October 26 ESMO update will focus on response durability, disease control, and combination tolerability.

H.C. Wainwright estimates potential sales of approximately $700 million annually, currently not included in the valuation. Incyte's financial health is rated as EXCELLENT by InvestingPro. Analysts have adjusted price targets for Incyte, with UBS at $127 (Neutral) and Stifel at $157 (Buy). H.C. Wainwright's updated target of $152 reflects the FDA approval of Atebrioz for fibrodysplasia ossificans progressiva, expected in October.