Incyte price target lowered to $61 from $69 at UBS

UBS lowered the firm’s price target on Incyte (INCY) to $61 from $69 and keeps a Neutral rating on the shares. The stock has held up since the proposed trade actions headlines started, and the Incyte story is relatively less exposed to policy and regulatory risks weighing on rest of the biopharma sector, the analyst tells investors in a research note. The firm believes there is a lack of meaningful pipeline catalysts, while Opzelura/Jakafi performance appears priced-in.