Market Overview

3 Takeaways From Monday's ASCO Meetings: Puma Biotech, Incyte, Celgene

3 Takeaways From Monday's ASCO Meetings: Puma Biotech, Incyte, Celgene
8 Biggest Price Target Changes For Monday
52 Biggest Movers From Yesterday
Goldman upgrades Puma Bio, shares ahead 2% premarket (Seeking Alpha)
Related INCY
The Daily Biotech Pulse: Pfizer And Allergan Earnings, CFO Departures At Acadia And Assertio
The Week Ahead In Biotech: Conferences, PDUFA Dates, Clinical Trial Results, Earnings And IPOs

The American Society of Clinical Oncology’s annual meeting ended Tuesday. The event was filled with updates on clinical trials and research.

Credit Suisse analyst Alethia Young released her key findings from Monday’s session regarding Puma Biotechnology Inc (NASDAQ: PBYI), Incyte Corporation (NASDAQ: INCY) and Celgene Corporation (NASDAQ: CELG).

Puma Biotechnology

Credit Suisse continues to find that neratinib will be a strength for Puma. At ASCO, Dr. Basegla, an unpaid consultant, said the drug will be approved and used to treat early stage breast cancer. Young questioned whether timelines for the company’s other candidates are on schedule.


Young was surprised by the weakness of Incyte shares since Monday, given that the studies presented by the company achieved proof of concept. She said she's not concerned by the immature data presented as a safety and continues to support the company.


“We think management sounds confident around the profile of ozanimod for [multiple sclerosis] and are excited for investors to see the data at ECTRIMS [in late October],” Young said. The analyst is also excited about Bb2121 and sees it as a way Celgene can remain a leader in multiple myeloma after Revlimid’s patent expires in 2026.

Related Links:

Notes From ASCO 2017: Tesaro, Amgen, Others Report New Data

Zymeworks: Early But Compelling Data, Large Biopharma Partners And A Potential June Catalyst

Latest Ratings for PBYI

Nov 2018Goldman SachsUpgradesSellNeutral
Nov 2018JP MorganMaintainsUnderweightUnderweight
Nov 2018Cantor FitzgeraldMaintainsOverweightOverweight

View More Analyst Ratings for PBYI
View the Latest Analyst Ratings

Posted-In: Alethia Young Credit SuisseAnalyst Color Health Care Analyst Ratings General Best of Benzinga


Related Articles (CELG + INCY)

View Comments and Join the Discussion!

Latest Ratings

XECImperial CapitalDowngrades35.0
SSTIImperial CapitalUpgrades49.0
AVDLoop CapitalUpgrades29.0
FCREYDeutsche BankUpgrades0.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

IRS Tool Shutdown Causes Big Problems For Student Loan Borrowers

The Benefits Of Solar Power