Incyte (INCY) Price Target Lifted on CALR Antibody Program Optimism

Incyte Corporation (NASDAQ:INCY) ranks among the best biotech stocks to buy. RBC Capital retained its Sector Perform rating on Incyte Corporation (NASDAQ:INCY) and increased its price target from $72 to $81 on September 24. The firm attributed the change in part to growing interest in Incyte’s ‘989 CALR antibody program ahead of expected ASH (American Society of Hematology) updates.

While RBC Capital anticipates that key opinion leaders would want at least 30% spleen volume reduction for myelofibrosis (MF) combination therapy, the firm will be watching for sustained responses and deeper variant allele frequency (VAF) over time for essential thrombocythemia treatment.

Incyte Corporation (NASDAQ:INCY), an American global pharmaceutical company, operates as a market leader in developing treatments for patients suffering from various diseases, including cancer.

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Disclosure: None. This article is originally published at Insider Monkey.