Bank of America Initiates Incyte With Buy

Bank of America initiated coverage on Incyte Corporation INCY with a Buy rating. The target price for Incyte is set to $126. Incyte shares have gained 118.47 percent over the past 52 weeks, while the S&P 500 index has surged 10.46 percent in the same period. Incyte shares rose 0.20 percent to close at $108.14 yesterday.