Leerink Partners analyst Andrew Berens has maintained their bullish stance on INCY stock, giving a Buy rating yesterday.
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Andrew Berens has given his Buy rating due to a combination of factors, primarily focusing on the promising results from Incyte’s INCA33989 trial. The trial demonstrated a high overall response rate, particularly at doses above 400mg, with a significant portion of patients achieving complete responses. This suggests a strong potential for disease-modifying activity, especially given the early stage of treatment exposure.
Furthermore, the safety profile of INCA33989 appears favorable, with minimal discontinuations due to adverse events, indicating a wide therapeutic index. The company’s plans to initiate a registrational trial and discussions with regulatory authorities about potential endpoints further support the positive outlook. These factors, combined with ongoing developments in other indications, contribute to the Buy rating for Incyte’s stock.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $89.00 price target.
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INCY in relation to earlier this year.