Incyte price target lowered to $91 from $100 at Truist

Truist lowered the firm’s price target on Incyte to $91 from $100 but keeps a Buy rating on the shares. The stock’s current levels reflect investor concerns around rux patent cliff and Opzelura growth, the analyst tells investors in a research note. The firm adds however that the continued Opzelura growth, feedback on vitiligo from key opinion leaders, and the company’s expansion strategy add to its conviction around Incyte’s derm franchise.