UBS Reiterates Neutral Rating on Incyte (INCY)

UBS analyst Ashwani Verma reiterated a Neutral rating and $61.00 price target on Incyte (NASDAQ: INCY).

The analyst commented, "We hosted a KOL call with a HemOnc specialist focussed on essential thrombocythemia…We note that the key focus for investors here is whether a registration-enabling study can be initiated after this initial Ph1 PoC study. Based on our discussion with INCY mgmt, we note that the company will first need to discuss the next steps with the FDA, which can presumably happen later in the year. Thus Bullish investors are likely to see delayed gratification on the potential upside case from the mCALR program."

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 $70.07 yesterday.

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