Incyte price target lowered to $84 from $91 at Truist

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.