Barclays on Incyte (INCY): Can Jakafi Still Deliver Without Patricia Andrews?
Tweet Send to a FriendGet Alerts INCY Hot Sheet
Price: $22.17 --0%
Rating Summary:
10 Buy, 4 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 11 | New: 13
Rating Summary:
10 Buy, 4 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 11 | New: 13
Trade INCY Now!
Barclays maintains an 'Equalweight' on Incyte (NASDAQ: INCY) price target of $21.00.
Analyst, Ying Huang, said that his initial reaction to the departure of Patricia Andrews, Chief Commercial Officer was surprising and concerning. Conversations with investors suggested similar feedback. No there is nobody in charge of sales and marketing only 9 month in to the Jakafi launch and may impact the Jakafi launch negatively.
After being questioned, INCY's CEO, Dr. Friedman assured everyone that Ms. Andrews wasn't to blame for the Jakafi launch and it still has the potential to meet the high end of full year expectations of $120-135M.
In the end, Barclays analyst Huang, said, "For Jakafi sales to reach the next level, the challenge for INCY is persuading physicians to prescribe Jakafi to less severe myelofibrosis patients."
For an analyst ratings summary and ratings history on Incyte click here. For more ratings news on Incyte click here.
Shares of Incyte closed at $20.20 yesterday, with a 52 week range of $11.76-$26.30.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Ying Huang, said that his initial reaction to the departure of Patricia Andrews, Chief Commercial Officer was surprising and concerning. Conversations with investors suggested similar feedback. No there is nobody in charge of sales and marketing only 9 month in to the Jakafi launch and may impact the Jakafi launch negatively.
After being questioned, INCY's CEO, Dr. Friedman assured everyone that Ms. Andrews wasn't to blame for the Jakafi launch and it still has the potential to meet the high end of full year expectations of $120-135M.
In the end, Barclays analyst Huang, said, "For Jakafi sales to reach the next level, the challenge for INCY is persuading physicians to prescribe Jakafi to less severe myelofibrosis patients."
For an analyst ratings summary and ratings history on Incyte click here. For more ratings news on Incyte click here.
Shares of Incyte closed at $20.20 yesterday, with a 52 week range of $11.76-$26.30.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Needham & Company Boosts Numbers on Infoblox (BLOX) on Strong Q3
- JPMorgan (JPM) Shareholders Support Dimon in Dual Role
- RBC Capital Lifts PT on Marvell (MRVL) after 'Strong' Q1 Report
Create E-mail Alert Related Categories
Analyst Comments, Management ChangesRelated Entities
Barclays
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
