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Incyte Corporation (INCY) focuses on the discovery, development, and commercialization of proprietary therapeutics in oncology in the United States and internationally.
It offers JAKAFI for the treatment of myelofibrosis and polycythemia vera cancers.
Its clinical stage products include ruxolitinib cream, which is in Phase II clinical trials for the treatment of alopecia areata; and INCB52793 that is in Phase I/II clinical trials for the treatment of advanced malignancies. The companys clinical stage products also comprise baricitinib, which is in Phase III trials for rheumatoid arthritis, as well as completed Phase II clinical trial for psoriasis and diabetic nephropathy; and in Phase II clinical trial for atopic dermatitis. In addition, it is developing INCB39110, which is in Phase I/II trials in combination with osimertinib for lung cancer, as well as in Phase I/II trials in combination with pembrolizumab for advanced malignancies; and in Phase II clinical trial for graft versus host disease.
Further, the companys clinical stage products include epacadostat that is in Phase II clinical trial for various tumors, and in Phase I/II clinical trial for non-small cell lung cancer, as well as for advanced melanoma.
Additionally, it is developing INCB54329 (BRD) and INCB53914 (PIM), which are in Phase I/II trials for the treatment of advanced malignancies; INCB50465 (PI3Kd) that is in Phase I/II trials for B-cell malignancies and solid tumors; INCB54828 (FGFR) and INCSHR1210 that are in I/II trials for solid tumors; and capmatinib that is in Phase II trial for the treatment of non-small cell lung, glioblastoma, and liver cancer.
The company markets its JAKAFI product through a network of specialty pharmacy providers and wholesalers. It has collaboration agreements with Novartis International Pharmaceutical Ltd.; Eli Lilly and Company; Agenus Inc.; Pfizer Inc.; and Jiangsu Hengrui Medicine Co., Ltd.
Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. Note that the bullish formation is the result of company's JAKAFI's main competitor, a drug under development by Gilead (GILD) failed a Phase 3 study for previously untreated myelofibrosis patients in November. That means Incute's JAKAFI will not have any competition for the next few years. Incyte raised its full-year net sales outlook on JAKAFI to $850 million-$855 million from an earlier outlook of $825 million-$835 million. Higher share prices for INCY are expected.
52-Weeks Trading Range: $55.00 - $122.68
Entry Point: $117.40
Stop Loss: $111.50
Target Price: $129.15
INCY closed at $129.55
