BofA upgraded Incyte (INCY) to Buy from Neutral with a price target of $90, up from $68, following “another strong quarter.” The firm had been cautious on competitive pressure to Jakafi in myelofibrosis, or MF, but thinks the strong continued demand indicates less risk at this point, adding that it is also encouraged by continued growth for Opzelura with potential to expand into pediatric AD.
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