Incyte Corporation (NASDAQ:INCY) announces the first presentation of findings from the ongoing proof-of-concept Phase 1/2 study evaluating epacadostat, Incyte’s selective IDO1 inhibitor, in combination with pembrolizumab, an anti-PD-1 therapy. Results evaluating 19 patients for efficacy and 28 patients for safety, indicate a 79 percent (n=15/19) disease control rate (DCR) in evaluable patients with advanced cancers. Responses were observed in all tumor types assessed. In the melanoma group (n=7), four of seven patients treated with the combination of epacadostat and pembrolizumab had an objective response, including 2 complete responses (CRs), with disease control demonstrated in six of the seven patients treated with the combination.
These results (see Appendix) will be published in the Journal for ImmunoTherapy of Cancer on November 4, 2015. Updated study results—including safety data on 56 patients and efficacy data on 47 patients, inclusive of 19 evaluable melanoma patients—will be presented by Dr. Tara Gangadhar as a late-breaking oral presentation (Abstract #142) on Friday, November 6, 2015 from 12:00-12:15 PM EST at the Society for Immunotherapy of Cancer (SITC) 30th Anniversary Annual Meeting & Associated Programs. Following the presentation, the updated data will be made available on www.incyte.com.
“These new data underscore the potential of epacadostat to treat advanced forms of cancer when used in combination with an anti-PD-1 therapy,” said Rich Levy, MD, Chief Drug Development Officer of Incyte. “We look forward to further evaluating the clinical benefits of the combination of epacadostat and pembrolizumab, both within the planned Phase 3 melanoma study that is expected to begin in the first half of next year, and in other future clinical programs.” (Original Source)
Shares of Incyte closed yesterday at $120.65. INCY has a 1-year high of $133.62 and a 1-year low of $66.29. The stock’s 50-day moving average is $113.92 and its 200-day moving average is $109.63.
On the ratings front, Incyte has been the subject of a number of recent research reports. In a report issued on October 15, Jefferies Co. analyst Thomas Wei maintained a Buy rating on INCY, with a price target of $135, which implies an upside of 11.9% from current levels. Separately, on October 14, Piper Jaffray’s Joshua Schimmer maintained a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Thomas Wei and Joshua Schimmer have a total average return of 13.2% and -3.3% respectively. Wei has a success rate of 59.8% and is ranked #222 out of 3816 analysts, while Schimmer has a success rate of 41.2% and is ranked #3529.
The street is mostly Bullish on INCY stock. Out of 9 analysts who cover the stock, 8 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $130.80, which represents a potential upside of 8.4% from where the stock is currently trading.
Incyte Corp is a biopharmaceutical company. It discovers, develops and commercializes proprietary small molecule drugs to treat serious unmet medical needs, mainly in oncology.