Incyte price target raised to $77 from $76 at Morgan Stanley

Morgan Stanley analyst Vikram Purohit raised the firm’s price target on Incyte to $77 from $76 and keeps an Equal Weight rating on the shares. The firm issued its biotechnology Q1 sector preview, stating that broadly for the group it does not "expect many surprises" given recently issued guidance. The firm sees investor focus being mainly on Q2 catalysts in the space.