J.P. Morgan Reiterates Rating On INCY Following ASCO

J.P. Morgan is reiterating its Overweight rating on Incyte Corp. INCY following the company's performance at ASCO. Says J.P. Morgan, “We are reiterating our OW rating on INCY following a solid overall performance at ASCO. The full data for the pivotal COMFORT-1 and -2 studies reinforce our confidence in the approvability of ruxolitinib, which we now expect in early Dec following yesterday's NDA filing. In addition to attending the oral data presentations and company event on Monday, we also had an opportunity to solicit independent physician feedback…” INCY closed at $16.90 yesterday.