Key Takeaways
- Shares of Incyte slumped Monday after the drugmaker’s fourth-quarter adjusted profit and 2025 sales forecasts missed analysts’ expectations.
- The company’s sales topped estimates for the fourth quarter as its two biggest drugs, Jakafi and Opzelura, grew year-over-year.
- Despite the strong latest quarter for the two drugs, Incyte’s projections for their 2025 sales in 2025 fell short of estimates.
Incyte (INCY) stock was one of the biggest decliners on the S&P 500 Monday after the drugmaker’s fourth-quarter adjusted profit and projections for 2025 sales of its key medications fell short of analysts’ estimates.
Incyte’s Q4 sales of $1.18 billion rose 16% year-over-year and topped Visible Alpha estimates as sales of its two biggest drugs, Jakafi and Opzelura, grew 11% to $773.1 million and 48% to $161.6 million, respectively.
The company’s adjusted earnings per share (EPS) of $1.43 rose from $1.06 last year but came in 10 cents below expectations.
Sales Outlook for Biggest Drugs Disappoints
Incyte’s outlook for Jakafi and Opzelura sales also came in below expectations. The company expects sales of Jakafi, which prevents overproduction of red blood cells, to bring in between $2.925 billion and $2.975 billion for 2025, with sales of the skin cream Opzelura forecast at between $630 million to $670 million.
Entering Monday, analysts expected 2025 sales of the two drugs to come in at roughly $3.34 billion and $672.2 million, respectively.
Shares of Incyte were down more than 6% Monday afternoon but are still up roughly 20% over the last 12 months.
:max_bytes(150000):strip_icc()/GettyImages-2192875096-b3f1aec6b5974c43bf576307b14d1933.jpg?w=1200&resize=1200,0&ssl=1&description=Incyte+Stock+Sinks+as+Sales+Forecast+for+Key+Drugs+Falls+Short){kind=link}