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Incyte Corporation's stock reached a significant milestone, hitting a 52-week high of 108.81 USD. This achievement marks a notable point for the company, reflecting a robust performance over the past year. The stock has seen a remarkable 1-year change, appreciating by 35.01%. This upward trajectory underscores investor confidence and the company's strong market position. The 52-week high serves as a testament to Incyte's growth and resilience in a competitive industry landscape.
In other recent news, Incyte Corporation has secured an exclusive option to acquire Prelude Therapeutics' mutant selective JAK2V617F JH2 inhibitor program. This agreement includes a $35 million upfront payment and a $25 million strategic equity investment, with Incyte purchasing 6.25 million shares of Prelude's non-voting common stock at $4.00 per share. If Incyte exercises its option, Prelude could receive an additional $100 million, with potential milestone payments reaching up to $775 million. Incyte's strong third-quarter performance has prompted TD Cowen to raise its price target on the company to $101, maintaining a Buy rating. Oppenheimer also increased its price target to $84, following Incyte's total revenues of $1,366 million, surpassing both its own and consensus estimates. Additionally, Guggenheim upgraded Incyte from Neutral to Buy, with a price target of $125, ahead of the company's presentations at the 2025 American Society of Hematology Annual Meeting. These developments reflect Incyte's ongoing strategic moves and promising performance in the oncology sector.
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