Jefferies Raises Price Target Incyte (INCY), Sees 56%

Jefferies raised its price target on Incyte (NASDAQ: INCY) from $25 to $27, suggesting 56% upside.

The firm states, "During the 2Q call, INCY disclosed that it will seek an amendment to the Phase 3 trial for ruxolitinib in polycythemia vera to accelerate enrollment. Based on our preliminary understanding of the proposed changes, we see this as a minor setback for the program. We remain confident in ruxolitinib approval and see significant upside from the current valuation on a successful launch."

For more ratings news on Incyte click here and for the rating history of Incyte click here.

Shares of Incyte closed at $17.42 yesterday.

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