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Fly News Breaks for November 9, 2015
INCY
Nov 9, 2015 | 07:35 EDT
Jefferies analyst Brian Abrahams calls Friday's 14% pullback in shares of Incyte an overreaction. The Street may have asked for too much from the immature epacadostat dataset, Abrahams tells investors in a research note. The data still suggests added activity in large-market solid tumor indications, the analyst contends. He thinks the drug can find a place in the treatment paradigm and keeps a Buy rating on Incyte with a $142 price target. The stock closed Friday down $16.55 to $100.21.