Wall Street analyst price targets, ratings consensus & upside potential · Updated Feb 28, 2026
Last 12 months price action with 12-month analyst target path
As of March 1, 2026, Incyte Corporation (INCY) has a Wall Street consensus price target of $108.90, based on estimates from 44 covering analysts. With the stock currently trading at $101.27, this represents a potential upside of +7.5%. The company has a market capitalization of $20.10B.
Analyst price targets range from a low of $84.00 to a high of $135.00, representing a 47% spread in expectations. The median target of $108.50 aligns closely with the consensus average.
The current analyst consensus rating is Buy, with 24 analysts rating the stock as a Buy or Strong Buy,18 rating it Hold, and 2 rating it Sell or Strong Sell. The positive sentiment balance indicates moderate optimism about the stock prospects.
From a valuation perspective, INCY trades at a trailing P/E of 15.8x and forward P/E of 13.4x. Analysts expect EPS to grow +20.3% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $134.40, with bear and bull scenarios of $-47.41 and $166.73 respectively. Model confidence stands at 59/100, reflecting moderate uncertainty in projections.
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorSee our Bear / Base / Bull DCF models and intrinsic value estimates.
View ValuationSee how INCY stacks up against sector leader Agios Pharmaceuticals, Inc..
Start ComparisonThe consensus price target for INCY is $108.9, close to the current price of $101.27 (7.5% implied move). Based on 44 analyst estimates, the stock appears fairly valued near current levels.
INCY has a consensus rating of "Buy" based on 44 Wall Street analysts. The rating breakdown is predominantly bullish, with 24 Buy/Strong Buy ratings. The consensus 12-month price target of $108.9 implies 7.5% upside from current levels.
With a forward P/E of 13.4024x, INCY trades at a relatively low valuation. The consensus target of $108.9 implies 7.5% appreciation, suggesting the market may be pricing in risks.
The most bullish Wall Street analyst has a price target of $135 for INCY, while the most conservative target is $84. The consensus of $108.9 represents the median expectation. Our quantitative valuation model projects a bull case target of $167 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
INCY is heavily covered by Wall Street, with 44 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 24 have Buy ratings, 18 recommend Hold, and 2 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month INCY stock forecast based on 44 Wall Street analysts shows a consensus price target of $108.9, with estimates ranging from $84 (bear case) to $135 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $134, with bear/bull scenarios of $-47/$167.
Our quantitative valuation model calculates INCY's fair value at $134 (base case), with a bear case of $-47 and bull case of $167. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 59/100.
INCY trades at a forward P/E ratio of 13.4x based on next-twelve-months earnings estimates compared to a trailing P/E of 15.8x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
INCY appears fairly valued according to analysts, with a "Buy" rating and minimal upside to the $108.9 target. Consider your investment thesis and risk tolerance. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
INCY analyst price targets range from $84 to $135, a 47% moderate spread showing some variance in outlooks. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $108.9 consensus represents the middle ground. Our model's $-47-$167 range provides an independent fundamental perspective.