Stifel Nicolaus analyst Stephen Willey has maintained their neutral stance on INCY stock, giving a Hold rating today.
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Stephen Willey has given his Hold rating due to a combination of factors related to Incyte’s recent clinical trial data and drug development prospects. The updated data for INCB123667 in patients with advanced PROC and metastatic/recurrent endometrial cancer showed limited efficacy, with a confirmed overall response rate of less than 25% and a median duration of response of approximately four months. These results raise concerns about the drug’s potential for accelerated approval, especially given the minimal durability of responses in heavily pretreated patient populations.
Additionally, while the INCB057643 data in relapsed/refractory MF/MPN provides some clarity on future development plans, safety and tolerability issues, including the risk of secondary malignancies, remain a concern. The recent EHA abstract for INCA33989 in essential thrombocythemia patients offers some promising data, but there are still many unanswered questions. Overall, the mixed results and uncertainties surrounding these trials contribute to the Hold rating, as they suggest a cautious approach until more definitive data becomes available.
Willey covers the Healthcare sector, focusing on stocks such as Bicara Therapeutics Inc., Exelixis, and Incyte. According to TipRanks, Willey has an average return of 0.9% and a 38.06% success rate on recommended stocks.