Incyte price target lowered to $88 from $92 at TD Cowen

TD Cowen analyst Marc Frahm lowered the firm’s price target on Incyte to $88 from $92 and keeps an Outperform rating on the shares. The firm said they reported solid Opzelura demand growth which led to a modest beat. They believe Jakafi guidance may prove conservative in light of a potential tailwind to volumes from Medicare Part D changes in 2024-25.