Incyte (INCY) PT Lifted to $126 at BMO Capital Following Competitor Set-Back
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
BMO Capital analyst M. Ian Somaiya reiterated an Outperform rating and bumped his price target on Incyte (NASDAQ: INCY) to $126.00 (from $121.00) as mixed data from Gilead's Phase 3 trials of momelotinib in myelofibrosis remove the only source of meaningful competition in the forseeable future to Jakafi in MF.
Somaiya commented, "We have raised our WW peak sales in MF to $1.8bn (from $1.4bn), and believe our peak penetration rates (~50% US/ROW) leave plenty of room for upside. We believe INCY's next key catalyst will be the decision to advance epacadostat into additional Phase 3 trials."
Shares of Incyte closed at $100.74 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Goldman Sachs Downgrades Marvell (MRVL) to Sell
- Evercore ISI Raises Price Target on Regions Financial (RF) to $15 After Meeting with Management
- Mizuho Securities Raises Price Target on PDC Energy (PDCE) to $81; Reiterates Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, FDA, Hot Comments, Trader Talk
Related EntitiesBMO Capital
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!