Valued at a market cap of $11.5 billion, Incyte Corporation (INCY) is a biopharmaceutical company that discovers, develops, and commercializes novel medicines to address serious unmet medical needs, particularly in oncology, inflammation, and autoimmunity. The Wilmington, Delaware-based company is expected to announce its fiscal Q1 earnings for 2025 before the market opens on Tuesday, Apr. 29.

Prior to this event, analysts project this biopharmaceutical company to report a profit of $0.75 per share, up 97.4% from $0.38 per share in the year-ago quarter. The company has missed Wall Street's bottom-line estimates in each of the last four quarters. Its earnings of $1.09 per share in the previous quarter fell short of the consensus estimates by 15.5%.

For the full year, analysts expect INCY to report EPS of $4.74, up significantly from $0.08 in fiscal 2024. Its EPS is expected to further grow 27.4% year over year to $6.04 in fiscal 2026. 

INCY has rallied 9.4% over the past 52 weeks, outpacing both the S&P 500 Index's ($SPX) 6.6% gain, and the Health Care Select Sector SPDR Fund’s (XLV) marginal decline over the same time frame.

On Feb. 10, INCY’s shares plunged 7.9% after its mixed Q4 earnings release. On the upside, its revenue increased 16.3% year-over-year to $1.2 billion and exceeded Wall Street’s expectations by 2.6%, thanks to a robust rise in Opzelura sales. However, it delivered adjusted EPS of $1.43, up 34.9% from the year-ago quarter but 15.5% below the consensus estimates. A 29.7% rise in adjusted cost of product revenues and higher selling, general, and administrative (SG&A) expenses weighed on profitability and dampened investor sentiment.

Wall Street analysts are moderately optimistic about INCY’s stock, with a "Moderate Buy" rating overall. Among 24 analysts covering the stock, nine recommend "Strong Buy," 14 advise “Hold,” and one suggests a “Strong Sell” rating. The mean price target for Incyte is $74.15, which indicates a 26.8% potential upside from the current levels.