Barclays on Incyte (INCY): Can Jakafi Still Deliver Without Patricia Andrews?
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Price: $120.16 -0.3%
Rating Summary:
17 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on Incyte (NASDAQ: INCY) price target of $21.00.
Analyst, Ying Huang, said that his initial reaction to the departure of Patricia Andrews, Chief Commercial Officer was surprising and concerning. Conversations with investors suggested similar feedback. No there is nobody in charge of sales and marketing only 9 month in to the Jakafi launch and may impact the Jakafi launch negatively.
After being questioned, INCY's CEO, Dr. Friedman assured everyone that Ms. Andrews wasn't to blame for the Jakafi launch and it still has the potential to meet the high end of full year expectations of $120-135M.
In the end, Barclays analyst Huang, said, "For Jakafi sales to reach the next level, the challenge for INCY is persuading physicians to prescribe Jakafi to less severe myelofibrosis patients."
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.
Analyst, Ying Huang, said that his initial reaction to the departure of Patricia Andrews, Chief Commercial Officer was surprising and concerning. Conversations with investors suggested similar feedback. No there is nobody in charge of sales and marketing only 9 month in to the Jakafi launch and may impact the Jakafi launch negatively.
After being questioned, INCY's CEO, Dr. Friedman assured everyone that Ms. Andrews wasn't to blame for the Jakafi launch and it still has the potential to meet the high end of full year expectations of $120-135M.
In the end, Barclays analyst Huang, said, "For Jakafi sales to reach the next level, the challenge for INCY is persuading physicians to prescribe Jakafi to less severe myelofibrosis patients."
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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