Incyte price target raised to $65 from $63 at RBC Capital

RBC Capital raised the firm’s price target on Incyte to $65 from $63 and keeps a Sector Perform rating on the shares after its Q4 results. The company’s Opzelura looks to be gaining momentum, especially within the vitiligo population and EU, though in-line Jakafi sales were buoyed by inventory and the below-consensus 2024 guide likely underscores potential for some competitive inroads this year and beyond, the analyst tells investors in a research note.