Incyte (INCY): Novartis Data Bodes Well For Incyte - RBC
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RBC Capital analyst, Simos Simeonidis, reiterated his Outperform rating on shares of Incyte (NASDAQ: INCY) after Novartis (NYSE: NVS), INCY's ex-US parter, reported $149M in 3Q16 Jakavi sales, beating consensus of $147M but lower than his $153M estimate. That said, royalties could be up 57% y/y.
Full detail will come out on INCY's 3Q16 earnings call, Tuesday November 1st, mid morning.
No change to the price target of $113.
Shares of Incyte closed at $88.18 yesterday.
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