Baird Defends Incyte (INCY): No Change in Outlook Following CCO Departure

Baird maintains an 'Outperform' on Incyte (NASDAQ: INCY) price target of $28.00.

Analyst, Thomas J. Russo, said, "While less than a year into your first product launch is not the ideal time for a change at the commercial helm, we are comfortable this is not a reflection of recent performance and that INCY can manage the transition. Management says the move has nothing to do with the launch trajectory, which is most important to investors, and offline reiterated its outlook for 2012 and peak."

Baird maintains FY12 loss of (0.54) and FY13 profit of $0.36.

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 $20.20 yesterday.

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