Jefferies Maintains a 'Buy' on Incyte (INCY); Encouraged After Meeting with Management

Jefferies maintains a 'Buy' on Incyte (NASDAQ: INCY) price target of $31.00.

Analyst, Thomas Wei, said, "INCY management shared several encouraging data points during recent meetings and reiterated its belief that 2Q12 sales were negatively impacted by a higher discontinuation rate following an initial wave of sicker patients who initiated therapy in late 2011/early 2012. We remain encouraged that an improvement in this discontinuation rate could lead to stock upside as sales improve."

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 $17.93 yesterday.

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