Incyte price target raised to $64 from $58 at BMO Capital

BMO Capital analyst Evan Seigerman raised the firm’s price target on Incyte to $64 from $58 and keeps a Market Perform rating on the shares. The company reported an “in-line” quarter in its base business, though its investment story for growth beyond Jakafi is slowly starting to take shape, the analyst tells investors in a research note. While Incyte did not provide official guidance on Opzelura, the tone on the earnings call was “constructive”, the firm added.