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Fly News Breaks for January 3, 2020
INCY
Jan 3, 2020 | 07:01 EDT
BMO Capital analyst George Farmer lowered his price target on Incyte to $74 and kept his Market Perform rating after the GRAVITAS-301 study results showing itacitinib+corticosteroids failing to meet the primary and secondary end points in patients with GVHD. The analyst contends that the failed study represents a "significant pipeline setback", and while he continues to model "robust growth" for Incyte's Jakafi in approved indications, he expects sentiment to remain neutral this year until there is greater evidence of potential for other revenue growth catalysts.
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