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Fly News Breaks for May 15, 2019
INCY
May 15, 2019 | 05:14 EDT
Piper Jaffray analyst Tyler Van Buren raised his price target for Incyte to $95 from $85 and reiterates an Overweight rating on the shares. The analyst models a U.S. atopic dermatitis and vitiligo launch in 2021 and 2023, respectively, with combined global sales surpassing $1B by the late 2020s. Incyte is "fully capable" of launching topical Jakafi in these indications with a specialty sales force of a couple hundred people, Van Buren tells investors in a research note. Further, the analyst notes that a key opinion leader Piper hosted was "very bullish" on topical Jakafi. The doctor believes that the efficacy of topical Jakafi exceeds that of the currently available non-steroidals, says Van Buren.