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INCY

Incyte

$66.29

-1.83 (-2.69%)

05:23
04/12/18
04/12
05:23
04/12/18
05:23

Incyte upgraded to Buy from Neutral at UBS

UBS analyst Carter Gould upgraded Incyte (INCY) to Buy while lowering his price target for the shares to $76 from $106. The stock offers an improved risk/reward profile after resetting lower on negative epacadostat Phase 3 data and removal of the drug from analyst models, Gould tells investors in a research note. The focus on epacadostat "obscured an otherwise solid, profitable, and strategically attractive Jakafi franchise," the analyst contends. He believes the base business alone supports $65 per share, even before considering its "compelling strategic attractiveness." Incyte closed yesterday down $1.83 to $66.29. Gould thinks clinical catalysts against low expectations can drive $13-$17 per share of upside over 2018.

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INCY Incyte
$66.29

-1.83 (-2.69%)

04/10/18
MZHO
04/10/18
NO CHANGE
Target $27
MZHO
Buy
Concert still likely to win IPR challenge against Incyte, says Mizuho
Mizuho analyst Difei Yang does not see a read-through to the final decision from the Patent Trial and Appeal Board's granting Incyte's (INCY) motion for reconsideration as it relates to the Inter Partes Review Petition challenge against Concert Pharmaceuticals (CNCE). The analyst still thinks Concert is likely to win the challenge based on how it has defended its patents historically. The company has an "impressive track record" on intellectual protection front, Yang tells investors in a research note. The analyst reiterates a Buy rating on Concert Pharmaceuticals with a $27 price target. The stock in morning trading is down 5%, or 96c, to $19.08.
04/09/18
04/09/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Westlake Chemical (WLK) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas citing valuation. 2. Mettler-Toledo (MTD) downgraded to Neutral from Buy at Goldman Sachs with analyst Patrick Donnelly saying he sees an attractive fundamental backdrop across Tools but is more cautious on the outlook for sales upside at Mettler given his view of a likely moderation of growth in China after a year of catch-up investment in the region. Donnelly also highlights "tough comps" in Labs and Product inspection. 3. Franklin Resources (BEN) downgraded to Neutral from Buy at BofA/Merrill with analyst Michael Carrier saying Franklin's bottom half performance and continued outflows limits organic growth and multiple expansion. 4. NewLink Genetics (NLNK) downgraded to Neutral from Overweight at Cantor Fitzgerald and Baird as well as to Hold from Buy at Jefferies. 5. Incyte (INCY) downgraded to Hold from Buy at Gabelli with analyst Jing He citing the "surprising" failure of the Phase 3 ECHO-301 study in melanoma. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/09/18
RHCO
04/09/18
NO CHANGE
Target $80
RHCO
Buy
Incyte price target lowered to $80 from $155 at SunTrust
SunTrust analyst Peter Lawson slashed his price target on Incyte to $80 after the failure of phase 3 IDO study in melanoma, saying that he is removing all IDO indicators from his model while also sharply discounting the post-IDO pipeline. While the analyst warns that further negative news related to IDO readouts could be coming, the post-failure stock price decline does create some "underlying value", keeping his Buy rating on Incyte.
04/09/18
GABE
04/09/18
DOWNGRADE
GABE
Hold
Incyte downgraded to Hold from Buy at Gabelli
Gabelli analyst Jing He downgraded Incyte to Hold following the "surprising" failure of the Phase 3 ECHO-301 study in melanoma. The analyst remains positive on Jakafi's long-term growth and estimates peak sales of $2.7B but recommends staying on the sideline before baricitinib Adcom on April 23.

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AQST

Aquestive Therapeutics

$17.02

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DAKT

Daktronics

$7.67

0.07 (0.92%)

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TI

Telecom Italia

$6.02

0.12 (2.03%)

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MAXR

Maxar Technologies

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PLUG

Plug Power

$1.83

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GSB

GlobalSCAPE

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EQIX

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TLGT

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STAF

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EEI

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AEE

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EQS

Equus II Inc

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VAPO

Vapotherm

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COTY

Coty

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NVS

Novartis

$87.74

0.52 (0.60%)

16:54
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Upgrade
Novartis rating change at Goldman Sachs »

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