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INCY

Incyte

$76.93

0.49 (0.64%)

12:09
01/13/20
01/13
12:09
01/13/20
12:09

Incyte deal with MorphoSys 'fits nicely,' says Piper Sandler

Piper Sandler analyst Tyler Van Buren reiterated an Overweight rating and $95 price target on Incyte following the company's agreement with MorphSys to license co-commercialization and development rights of tafasitamab. The deal, which does not affect MorphSys' ongoing trials, is costing Incyte $750M up front, which Van Buren believes is an "exceptionally reasonable upfront payment for Incyte, considering that the company is receiving an approvable drug that has multi-billion dollar sales potential." The analyst also noted that a tafasitamab BLA decision is expected mid-year 2020.

  • 13

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  • 30

    May

INCY Incyte
$76.93

0.49 (0.64%)

01/03/20
STFL
01/03/20
NO CHANGE
Target $22
STFL
Buy
Stifel says Incyte setback means Equillium may have most advanced aGVHD product
After Incyte (INCY) announced that the Phase 3 GRAVITAS-301 study evaluating itacitinib in combination with corticosteroids in patients with treatment-naive acute graft-versus-host disease, or GVHD, did not meet its primary endpoint, Stifel analyst Adam Walsh said he believes that Equillium's (EQ) EQ001 may now be the most advanced product in development for this indication. He does not see any direct read-through clinically to EQ001, a selective JAK1 inhibitor, from the failure of itacitinib, a CD6 antibody, as their mechanisms of action are "very different," Walsh added. The analyst, who continues to believe EQ001 holds significant potential in front-line aGVHD, keeps a Buy rating and $22 price target on Equillium shares.
01/09/20
BMOC
01/09/20
DOWNGRADE
Target $42
BMOC
Market Perform
Constellation downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst Do Kim downgraded Constellation Pharmaceuticals (CNST) to Market Perform from Outperform with a price target of $42, down from $43. The analyst believes CPI-0610 clinical success in front-line myelofibrosis is nearly fully priced into shares ahead of Phase 3 start. In comparison to Incyte's (INCY) valuation at the same period of Jakafi development, Constellation trades at a 60% premium, with a market cap closer to Incyte after Phase 3 data, Kim tells investors in a research note. As such, the analyst expect limited upside in Constellation shares from the CPI-0610 Phase 2 MANIFEST updates.
01/13/20
GSCO
01/13/20
NO CHANGE
Target $107
GSCO
Conviction Buy
MorphoSys collab deal an 'incremental positive' for Incyte, says Goldman Sachs
Goldman Sachs analyst Salveen Richter says the global collaboration and license agreement between Incyte (INCY) and MorphoSys (MOR) to develop and commercialize tafasitamab for B-cell malignancies is an "incremental positive" for Incyte, as it adds a near commercial stage asset. Under the terms of the deal, the companies will co-commercialize tafasitamab with a 50:50 profit split in the U.S., while Incyte will have exclusive commercialization rights excluding the U.S. Outside of the initial indication, Incyte and MorphoSys will also explore monotherapy use of tafasitamab in other B cell malignancies as well as in combination with Incyte's parsaclisib, which Richter says offers upside to his numbers. He made no change to his Conviction Buy rating and $107 price target for Incyte shares.
01/13/20
PIPR
01/13/20
NO CHANGE
Target $42
PIPR
Overweight
Piper says terms of Incyte deal 'attractive' for Morphosys
Piper Sandler analyst Danielle Brill maintained an Overwight rating and $42 price target on MorphoSys (MOR) after the company announced a global collaboration with Incyte (INCY) for the development of tafasitamab. Brill said the deal is "great" in terms of economics and future governance of the assets, though she does believe investors will question whether Incyte is the "ideal" partner to unlock tafasitamab's full potential. The analyst noted, however, that she does believe tafa will be a "top-priority" for both companies, and they will be equally committed to insuring it is a commercial success.

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MSFT

Microsoft

$167.06

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  • 12

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EGLE

Eagle Bulk Shipping

$4.25

-0.03 (-0.70%)

13:40
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Conference/Events
Eagle Bulk Shipping to host conference call »

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SMUUY

Siam Commercial Bank

$0.00

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13:39
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Siam Commercial Bank rating change  »

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SMUUY

Siam Commercial Bank

$0.00

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13:38
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SMUUY

Siam Commercial Bank

$0.00

(0.00%)

13:37
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Siam Commercial Bank rating change  »

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SMUUY

Siam Commercial Bank

$0.00

(0.00%)

13:37
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13:37
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Siam Commercial Bank rating change  »

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CNVVY

ConvaTec

$0.00

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13:35
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KSU

Kansas City Southern

$166.57

4.77 (2.95%)

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CRM

Salesforce

$182.16

-0.53 (-0.29%)

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SNYYF

Sany Heavy

$0.00

(0.00%)

12:56
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ATDRY

Auto Trader Group

$0.00

(0.00%)

12:52
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Upgrade
Auto Trader Group rating change at Goldman Sachs »

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AIOSF

Atresmedia

$0.00

(0.00%)

12:50
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Downgrade
Atresmedia rating change at Goldman Sachs »

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LGDDF

Lagardere

$0.00

(0.00%)

12:48
01/20/20
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12:48
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12:48
Downgrade
Lagardere rating change at Goldman Sachs »

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WPP

WPP

$66.38

-0.34 (-0.51%)

12:47
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Downgrade
WPP rating change at Goldman Sachs »

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WTKWY

Wolters Kluwer

$0.00

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12:46
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CIOXY

Cielo

$0.00

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12:43
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