Jefferies Maintains a 'Buy' on Incyte (INCY); Staying Positive on Jakafi Sales Trajectory
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Price: $20.36 -4.9%
Rating Summary:
10 Buy, 4 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
10 Buy, 4 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade INCY Now!
Jefferies maintains a 'Buy' on Incyte (NASDAQ: INCY) price target of $31.00.
Analyst, Thomas Wei, said, "INCY 2Q12 Jakafi net product revenues of $29.7m fell short of our estimate of $33m. We believe the shortfall is related to a higher discontinuation rate than we had expected, but we see this as a short-term factor that does not impact our view of the peak potential. We believe that the Street continues to underappreciate the prospects for Jakafi in myelofibrosis (MF) and baricitinib in rheumatoid arthritis."
Lowers FY12 EPS estimate from (0.30) to (0.57), FY13 lowered from $0.56 to $0.46.
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 $19.57 yesterday, with a 52 week range of $11.76-$26.30.
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Analyst, Thomas Wei, said, "INCY 2Q12 Jakafi net product revenues of $29.7m fell short of our estimate of $33m. We believe the shortfall is related to a higher discontinuation rate than we had expected, but we see this as a short-term factor that does not impact our view of the peak potential. We believe that the Street continues to underappreciate the prospects for Jakafi in myelofibrosis (MF) and baricitinib in rheumatoid arthritis."
Lowers FY12 EPS estimate from (0.30) to (0.57), FY13 lowered from $0.56 to $0.46.
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 $19.57 yesterday, with a 52 week range of $11.76-$26.30.
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