Incyte price target raised to $76 from $73 at Stifel

Stifel analyst Stephen Willey raised the firm’s price target on Incyte to $76 from $73 and keeps a Hold rating on the shares. The company reported an “optically strong quarter,” with inventory-facilitated Jakafi sales and slightly-above-consensus Opzelura print, the analyst tells investors. In the near term, greater traction is needed in its Opzelura sales to re-rate the stock over the near term, Stifel says.