Incyte price target raised to $75 from $74 at RBC Capital

RBC Capital raised the firm’s price target on Incyte (INCY) to $75 from $74 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q4 and 2025 earnings in the Biotech sector. Q4 should should come in generally solid across the firm’s large and mid-cap commercial stage companies, helped by seasonal tailwinds, though 2025 expectations may be seeing more optimism than necessarily warranted with a number of launches already baked into numbers and durability of certain core franchises that could challenge certain setups, the analyst tells investors in a research note. For Incyte, RBC notes that solid demand, limited competitive inroads, and seasonal tailwinds should enable Jakafi to beat Q4 consensus, though in 2025, each respective result within its pipeline will need to show not only favorable efficacy/safety but also differentiation.