Incyte price target raised to $97 from $92 at Citi

Citi raised the firm’s price target on Incyte (INCY) to $97 from $92 and keeps a Buy rating on the shares. Incyte reported Q3 results, delivering topline revenue beats due to sustained growth for key franchise drivers in Jakafi and Opzelura, the analyst tells investors in a research note. The firm sees the fundamental story in Incyte as bolstered by the consistent commercial execution, decreased concerns over competitors to Jakafi, and plentiful shots on goal in the pipeline.