Incyte Corporation (NASDAQ:INCY) shares plunged 11.26% on Tuesday and here are some significant developments recently:

Incyte has had some problems with its pipeline at some point especially with INCB000262, MRGPRX2 antagonist. This has meant that it has had to put on hold the second phase of its trial for chronic spontaneous uticaria (CSU). In addition, further development of the MRGPRX4 antagonist INCB000547 as a treatment for CP has been ceased because of ineffectiveness.

Nevertheless, company’s stock price seems to fluctuate but also increase, which might indicate that presence at NASDAQ-100 has its positive outcome for Incyte. It has been on the rise within the last six months by 32.87% and the last three months it has appreciated by 19.93%. But has has also had its dips, at one point, the share price closed at $75.87 down by 2.39 % from the previous trading session.

However, Incyte would like to focus on its strategic growth potential. The company is expecting multiple Phase 3 data readings based on different treatment spanning the remainder of 2025 such as ruxolitinib cream and povorcitinib. The company also expects its tafasitimab and retifanlimab to get approvals, which will complement its product lineup.

Currently, Incyte has $1.5 billion in cash and no outstanding debts, putting the company in a good financial state with regards to some likely strategic acquisitions.

Overall, INCY shows a good GF Score with robust profitability and growth, strong financial cushion with undervalued price. In summary overall Incyte does have some issues concerning its pipeline and still remains on the prowl for strategic growth opportunities and a healthy balance sheet.

You can make more informed investment decisions. Visit GuruFocus today and dive deeper into INCY‘ performance with Charts & Guru Insights.

This article first appeared on GuruFocus.