Truist analyst Srikripa Devarakonda lowered the firm’s price target on Incyte to $84 from $91 after its Q4 earnings miss but keeps a Buy rating on the shares. As the company’s base business continues to grow, Incyte remains a dominant player in Myeloproliferative Neoplasms, or MPNs, while its dermatology portfolio is likely undervalued at current levels, the analyst tells investors in a research note.
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