Market Overview

UPDATE: JP Morgan Reiterates Incyte Corporation at Overweight Following PML Case

Related INCY
Rich Ross Shares His Biotech Trades
The Street Is Seeing Higher Probability Of Success For Incyte's Melanoma Treatment
Novartis Tumbles On Q3 Sales Miss; Chemo Sales May Boost Incyte (Investor's Business Daily)

JP Morgan reiterated Incyte Corporation (NASDAQ: INCY) with an Overweight rating.

JP Morgan analyst Cory Kasimov noted, "Shares of INCY have been under pressure this morning following disclosure that a case of PML was identified in a 75 yr old male myelofibrosis (MF) patient from the UK treated with Jakafi. While it has not yet been determined whether this development was related to the use of Jakafi, we are unsurprised by the market's reaction given the theoretical risk (however unlikely) this could represent for Jakafi in MF and eventually PV. Nevertheless, we're hesitant to jump to conclusions in this instance with just one case identified to date (in almost 10,000 pts treated) and the rapid onset of PML following initiation of Jakafi treatment."

Incyte Corporation closed at $24.84 on Friday.

Latest Ratings for INCY

Oct 2016JMP SecuritiesMaintainsMarket Outperform
Oct 2016JefferiesMaintainsHold
Oct 2016Leerink SwannMaintainsOutperform

View More Analyst Ratings for INCY
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Reiteration Analyst Ratings


Related Articles (INCY)

View Comments and Join the Discussion!