Incyte assumed with an Equal Weight at Morgan Stanley

Morgan Stanley assumed coverage of Incyte (INCY) with an Equal Weight rating with a price target of $73, up from $68. The firm sees an improving set-up for shares approaching key data updates expected this year for mCALR and JAK2V617Fi in Myelofibrosis, and Phase II data for povorcitinib in asthma in the second half of 2025 presents an opportunity to further prove out the potential for povo beyond hidradenitis suppurativa, the analyst tells investors in a research note.