Piper Sandler analyst Allison Bratzel raised the firm’s price target on Incyte (INCY) to $102 from $82 and keeps an Overweight rating on the shares. The firm notes the company shared strong Q3 results, with Jakafi posting a $20M beat and Opzelura beating consensus by $11M, with non-GAAP EPS of $2.26 representing 63c upside from consensus. Given continued commercial momentum, coupled with key leadership changes, strategic partnerships, and pipeline prioritizations, Piper thinks the risk/reward remains favorable at current levels and remains a buyer.
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