Jefferies Maintains Buy on Incyte

Jefferies is out with its report today on Incyte INCY, maintaining Buy. In a note to clients, Jefferies writes, "While there were no major presentations for INCY's INCB28050 at EULAR, we note positive feedback from rheumatologists and new incremental details from the ORAL Solo Phase 3 study of tofacitinib. We remain confident in the commercial opportunity for 050 in rheumatoid arthritis." Jefferies maintains a $25 PT on INCY. Shares of INCY closed Friday at $17.92, up 2.52% from Thursday's close.