Why Incyte (INCY) Shares Are Plunging Today

What Happened?

Shares of biopharmaceutical company Incyte Corporation (NASDAQ:INCY) fell 8.9% in the morning session after the company reported fourth-quarter results with full-year guidance for key products such as Jakafi and Opzelura, indicating a significant deceleration in growth. Also, earnings fell short of expectations during the quarter, suggesting profit might be under pressure. On the other hand, revenue exceeded expectations, but markets tend to focus more on the long term. Overall, this quarter could have been better.

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What The Market Is Telling Us

Incyte’s shares are not very volatile and have only had 4 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.

Incyte is down 0.2% since the beginning of the year, and at $69.41 per share, it is trading 16.8% below its 52-week high of $83.38 from November 2024. Investors who bought $1,000 worth of Incyte’s shares 5 years ago would now be looking at an investment worth $924.07.

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