According to a recent report, Piper Jaffray has initiated an Overweight rating and $23.00 price target on Incyte INCY. The company also expects ruxolitinib to grow beyond CYT387 launch; however, the current price target assumes no growth after the 2015-16 launch.
In the report, Piper Jaffray said, "Despite ruxolitinib's blockbuster potential, INCY shares have sold off recently as Phase I/II data for YM Biosciences' CYT387 confirmed a modest anemia benefit (vs. transient anemia with ruxolitinib), which some expect to offset ruxolinib's 3-4 year lead time."
INCY closed yesterday at $18.16.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in