Incyte CEO Shake-Up Sparks M&A Buzz As RBC Analyst Highlights Meury’s Track Record: Retail Is All In

RBC Capital Markets said investors may view Incyte’s CEO change as a potential prelude to strategic moves or M&A activity, citing new chief executive Bill Meury’s track record of leading companies into major buyouts.

Incyte shares climbed 4.8% to close at $70.81 on Thursday, extending gains slightly to $71.28 in after-hours trading.

Meury replaces Hervé Hoppenot, who is retiring after 11 years at the helm and will stay on Incyte’s board through the end of the year. 

RBC said Meury’s leadership of Karuna and Anthos, both of which were recently acquired, could reignite M&A chatter around Incyte.

However, the firm cautioned that Incyte’s looming Jakafi patent cliff, which could slash earnings by 76% by the end of the decade, and its commercial-stage profile may limit acquisition appetite. 

RBC maintained a ‘Sector Perform’ rating and a $67 price target on the stock.

Previously, Meury led Karuna through its $14 billion sale to Bristol Myers Squibb and steered Anthos before its acquisition by Novartis. 

He also held senior commercial roles at Allergan, overseeing a $16 billion portfolio.

Julian Baker, current chairman of the board, said Meury brings “decisive and collaborative” leadership and is well-positioned to build on Incyte’s pipeline and commercial strengths.

As part of its ongoing pipeline developments, the U.S. FDA granted an extension to its review of the supplemental new drug application for ruxolitinib cream (Opzelura) for children 2–11 with atopic dermatitis.

The topical JAK inhibitor is a key candidate in Incyte's dermatology franchise and the PDUFA action date is now September 19. 

The FDA requested the extension to receive additional chemistry and manufacturing information.  

Separately, Monjuvi Tafasitamab-cxix (Monjuvi) received FDA approval to treat relapsed or refractory follicular lymphoma when used with rituximab and lenalidomide.

On Stocktwits, retail sentiment was ‘extremely bullish’ amid a 300% surge in 24-hour message volume.

One user suggested that a buyout could be on the horizon, noting that “Bill doesn’t play around.”

Another user commented on the market reaction to the leadership shift, suggesting the stock’s rise reflected investor relief at the departure of the outgoing CEO.

The stock has risen 1.8% so far in 2025.

For updates and corrections, email newsroom[at]stocktwits[dot]com.