Credit Suisse Starts Incyte (INCY) at Outperform, $110 PT

Credit Suisse initiates coverage on Incyte (NASDAQ: INCY) with a Outperform rating and a price target of $110.00.

Analyst Alethia Young commented, "We are initiating coverage of Incyte with an Outperform rating and a $110 target price. We took a big picture look and see upside potential on other programs besides epacadostat (the IDO). We think (1) Baracitinib royalties will be higher than the Street, (2) bigger market opportunity for Jakafi's PV indication, and (3) the pipeline is valuable and will yield interesting combos in cancer. However, we think that we will get more data on epacadostat over the next 12 months that may validate profile in different tumor types."

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 $73.31 yesterday.

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