Analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Incyte and keeping the price target at $135.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors tied to povorcitinib’s commercial and clinical potential in hidradenitis suppurativa. He highlights feedback from a leading HS specialist who treats a large, mostly moderate-to-severe population and expects to use povorcitinib broadly, including before biologics, especially for patients who want to avoid injections.
Kapoor also underscores robust efficacy and pain relief data, with meaningful HiSCR responses, tunnel control, flare reduction, and a sizable share of patients achieving minimal pain. He views class safety concerns around JAK inhibitors as manageable given dermatologists’ growing comfort and notes that having both 45 mg and 75 mg doses could let physicians tailor the efficacy–tolerability balance, supporting stronger uptake and justifying his $135 price target.
In another report released on March 30, TD Cowen also maintained a Buy rating on the stock with a $123.00 price target.