Morgan Stanley Assigns Equal Weight Rating to Incyte with $73 Price Target

Morgan Stanley assumed coverage of Incyte with an Equal Weight rating and a price target of $73. The firm sees a positive outlook for key data updates expected this year for mCALR and JAK2V617Fi in Myelofibrosis, and Phase II data for povorcitinib in asthma in the second half of 2025, which could further prove the potential for povo beyond hidradenitis suppurativa.