Incyte price target raised to $80 from $72 at RBC Capital

RBC Capital analyst Brian Abrahams raised the firm’s price target on Incyte (INCY) to $80 from $72 and keeps a Sector Perform rating on the shares. The firm is citing the company’s R&D Day featuring key opinion leaders discussing its pipeline in anticipation of high profile 2025 readouts, which highlighted both the strong mechanistic rationale for many of Incyte’s pipeline programs but also the relatively complex treatment paradigms that the company is operating in, the analyst tells investors in a research note.