Citi Initiates Coverage of Incyte Corporation (INCY) with a Buy
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Citi initiates coverage of Incyte Corporation (Nasdaq: INCY) with a Buy. Price target $15
Citi analyst says, "INCY's lead drug '424 is currently in development for the treatment of myelofibrosis, a potential orphan drug indication with a total addressable patient pool of ~27K patients in the U.S.
Our INCB'424 INCY revenues grow from $41M in 2011 to $465M in 2015...INCY is developing its JAK2 program in cancer and inflammatory indications. Moreover, INCY has a deep pipeline of products in development across various disease indications in diabetes, cancer and HIV. We have not included revenue contribution from these potential additional indications or early stage pipeline drugs."
Incyte Corporation (Incyte) is a drug discovery and development company focused on developing small molecule drugs to treat serious unmet medical needs.
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