Oppenheimer Comments on Incyte

Oppenheimer commented on Incyte INCY in a report released today. In the report, Oppenheimer was positive in its assessment of the company. Oppenheimer writes, "On 6/4, INCY/NVS reported final COMFORT-1/2 ph.III data for INCB18424 in myelofibrosis (MF). Notably, the companies reported '424 demonstrated a lower 24-week spleen response in COMFORT-2 vs. COMFORT-1 (32% vs. 42%), but COMFORT-2 safety results were more favorable. Based on physician discussions, we believe spleen response in both studies is highly clinically meaningful. The grade 3/4 anemia/thrombocytopenia rates in both studies were higher than prior studies; however, this analysis more conservatively included incidence at any given time." Oppenheimer currently has an Outperform rating on Incyte and a price target of $25. Shares of Incyte closed at $16.59 on Friday.