In a report published Thursday, Morgan Stanley analyst David Friedman reiterated an Underweight rating on Incyte INCY, but removed the $14.00 price target.
In the report, Morgan Stanley noted, “OS and PFS data trended together and seem to be generating a clinically meaningful pt benefit. While we have not seen the K-M survival curves, the subgroup data at 3 and 6 months suggest a solid OS curve for the drug if replicated in larger Ph 3 trials, despite a low response rate (likely a smaller issue).”
Incyte closed on Wednesday at $55.90.
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