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UBS has lowered its price target for Incyte Corporation from $77 to $69 while maintaining a neutral rating. Incyte focuses on developing therapeutic products primarily for cancer and inflammatory disorders, with product sales accounting for 85.6% of its revenue.
Incyte Corporation's executive vice president sold 3,680 shares, reducing their ownership by 5.96%, now holding 58,042 shares valued at approximately $4.62 million. Institutional investors control 96.97% of the stock, with recent hedge fund activity indicating significant interest. UBS Group initiated coverage with a "neutral" rating and a $77 price target, suggesting an 11.30% upside.
Incyte's executive vice president now holds 30,658 shares valued at approximately $2.31 million, reflecting a 16.47% decrease in ownership. Institutional investors control 96.97% of the stock, with recent hedge fund activity including significant increases in positions by Raymond James & Associates and New York State Teachers Retirement System. UBS Group initiated coverage with a "neutral" rating and a $77 price target, suggesting an 11.30% upside.
Incyte Corporation focuses on developing therapeutic products for cancer and inflammatory diseases. Its revenue sources are primarily from product sales, accounting for 85.6%, followed by license income at 14.2%, and a minimal 0.2% from research and collaboration agreements.
Sun Pharma's shares fell over 5% to Rs 1,760.10 after a US Court issued a preliminary injunction blocking the launch of Leqselvi, a treatment for severe alopecia areata, until a favorable court decision or patent expiration. UBS noted that this does not eliminate future opportunities, while JPMorgan suggested the company might appeal or settle with Incyte, with a potential launch delayed until December 2026.
Evommune, a California biotech startup, has secured $115 million in Series C funding to advance its immune drug candidates, EVO756 and EVO301, targeting chronic immune conditions. The funding will support three Phase 2 trials, with results expected by the end of 2026. EVO756, an oral treatment for chronic skin hives, aims to be a first-in-class therapy, while EVO301 targets atopic dermatitis and shows promise in early testing.
Septerna, a GPCR-focused biotech, raised $288 million in its IPO, pricing shares at $18 each, above the initial range. The company aims to advance its lead drug candidate, SEP-786, for hypoparathyroidism, with human testing underway and data expected in 2025. This marks a significant moment in a busy period for biotech IPOs, with Septerna being the 23rd this year.
Incyte Corporation
Companies
| Symbol | INCY |
| Name | Incyte Corporation |
| Currency | USD |
| Sector | Health Care |
| IndustryGroup | Pharmaceuticals, Biotechnology & Life Sciences |
| Industry | Biotechnology |
| Market | NASDAQ Global Select |
| Country | United States |
| State | DE |
| City | Wilmington |
| Zipcode | 19803 |
| Website | http://www.incyte.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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