After the majority of an FDA advisory committee members voted that the 2mg dose of baricitinib demonstrated efficacy and had a cleaner safety profile compared to the higher dose and also voted against recommending approval of the 4mg dose, JMP Securities analyst Liisa Bayko said she believes the 4mg dose of baricitinib "has a bleak future." However, she said the value of baricitinib is a "relatively small" part of the overall value of Incyte shares. Bayko, who previously had an Outperform rating and $145 price target on Incyte, noted that her rating and price target remain under review.