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Piper Jaffray reiterates its Overweight rating and $23 target price on Incyte Corporation
INCY as OS benefit could expand Jakafi's market size and drive adoption.
Piper Jaffray says, “We expect combination of an overall survival benefit, symptomatic relief and/or spleen size reduction in a vast majority of patients treated with Jakafi to increase its rate of diagnosis and expand the myelofibrosis market opportunity. … We expect Jakafi to be used in intermediate risk patients who have an enlarged spleen and poor quality of life or 80% of addressable market — supporting upside to 2012 estimates.”
INCY closed at $14.30 per share on Monday.
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