Buy Incyte (INCY) on Weakness - BMO Capital

BMO Capital analyst M. Ian Somaiya is telling clients to buy Incyte (NASDAQ: INCY) on weakness, saying the presentation of ECHO-204 (Opdivo + epacadostat) data confirmed the benefit seen in ECHO-202, and addressed questions related to depth of responses and reproducibility of results with the combo in melanoma and SCCHN.

"We expect data from the Phase 2 trial of epacadostat + AZ’s durvalumab in solid tumors (3Q17), update on baricitinib by YE17, and data from the Phase 3 trial of epacadostat + Keytruda in melanoma in 1H18 to drive upside," Somaiya said.

The firm reiterated an Outperform rating and price target of $166 on INCY.

For an analyst ratings summary and ratings history on Incyte click here. For more ratings news on Incyte click here.

Shares of Incyte closed at $124.03 yesterday.

You May Also Be Interested In

• MaxLinear (MXL) PT Raised to $120 at Stifel
• Freedom Broker Starts Intrepid Potash (IPI) at Buy
• GLJ Research Upgrades Cleveland-Cliffs (CLF) to Buy