TD Cowen Reiterates Buy Rating on Incyte (INCY)

TD Cowen analyst Marc Frahm reiterated a Buy rating and $80.00 price target on Incyte (NASDAQ: INCY).

The analyst commented, "An ESMO abstract disclosed initial Ph1 data for '667 (CDK2i) in solid tumor patients. Of n=60 evaluable solid tumor pts, n=28 had SD and n=5 had PR. The ORR in ovarian cancer appears to be ~10% on an all-comers basis in this initial data cut. We suspect this rate will be much higher (possibly 30%+) at ESMO once efficacy analyses are focused by dose and CCNE1 status. Remain at Buy."

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 $61.26 yesterday.

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