Incyte's Strong Opzelura Sales Offset by Regulatory Uncertainty, RBC Says

12:14 PM EDT, 10/30/2026 (MT Newswires) -- Incyte's (INCY) Q3 performance was supported by strong Opzelura sales, but regulatory uncertainty remains a key challenge, RBC Capital Markets said in a note Thursday. The analysts said Opzelura generated $255 million in sales, beating the $232 million estimate due to increased new patient starts. Smaller products, including Niktimvo and Zynyz, also performed well, while Jakafi sales were in line at $827 million. Operating expenses were as expected, and the company's increased full-year net sales guidance of $5.21 billion to $5.30 billion is expected to be "easily achievable," the analysts added. Looking ahead, Incyte has a growing solid tumor pipeline and positive prospects for its first-line myelofibrosis data and next-generation mCALR program. However, regulatory uncertainty around mCALR and less certain opportunities in immunology and inflammation remain risks, the analysts said. RBC raised its price target on Incyte to $117 from $114 while keeping its sector perform rating. Price: 120.24, Change: +3.44, Percent Change: +2.94