Incyte upgraded to Conviction Buy from Buy at Goldman Sachs

Goldman Sachs analyst Salveen Richter added Incyte to his firm’s Americas Conviction List and boosted his price target for the shares to $111 from $102. He keeps a Buy rating on the name. At current share levels, Incyte provides “pipeline and M&A optionality in the context of a solid commercial franchise,” Richter tells investors in a research note. He points out the company’s pipeline consists of 21 drugs across the verticals of oncology and inflammation/autoimmunity. https://thefly.com/landingPageNews.php?id=2848644