Incyte Corporation (INCY) has announced the acquisition of Escient Pharmaceuticals for $750 million. This strategic move strengthens Incyte’s portfolio in the inflammatory diseases space, particularly with the addition of EP262 and EP547, first-in-class MRGPRX2 and MRGPRX4 antagonists, respectively. Despite concerns about Jakafi’s patent expiration in 2029, Cantor Fitzgerald has initiated coverage on Incyte with a Neutral rating, recognizing the undervalued nature of the company’s shares due to strong cash flow from Jakafi and Opzelura. However, the analyst expresses reservations about the pipeline prospects and suggests Incyte prioritize high-return pipeline candidates. William Blair maintains a positive outlook on Incyte, emphasizing the potential of assets like povorcitinib, while highlighting the MRGPRX2 target as an intriguing opportunity in the chronic inducible urticaria market.