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Fly News Breaks for February 4, 2020
Feb 4, 2020 | 07:20 EDT
BofA analyst Tazeen Ahmad reinstated coverage of Incyte with a Neutral rating and $82 price target. In a research note to investors, Ahmad says Incyte's flagship asset Jakafi continues to occupy a first-line status in rare blood cancer myelofibrosis and is growing its share in a related rare blood cancer, second-line polycythemia vera. The analyst contends that Incyte has significant cash generation to propel development of its broad late-stage pipeline and believes investor focus will now be on future growth drivers to add value as the 2028 Jakafi patent expiration draws near.
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