Incyte Corporation (NASDAQ:INCY) announces that new data from its investigational immuno-oncology portfolio will be presented at the upcoming Society for Immunotherapy of Cancer (SITC) 30th Anniversary Annual Meeting & Associated Programs, November 4–8, 2015 at the Gaylord National Resort & Convention Center in National Harbor, MD. Safety and efficacy data from a Phase 1/2 study evaluating epacadostat, Incyte’s selective IDO1 inhibitor, in combination with pembrolizumab, an anti-PD-1 therapy, will be presented as a late-breaking oral presentation. Additionally, data from INCB50465, Incyte’s selective PI3Kδ inhibitor, will be presented as a poster.
“We are very pleased that data for both epacadostat and INCB50465 have been selected for presentation at the SITC Annual Meeting next month,” stated Hervé Hoppenot, President and Chief Executive Officer of Incyte. “We look forward to sharing the progress of our immuno-oncology portfolio, which reflects our commitment to developing new medicines that may improve the lives of patients with cancer.” (Original Source)
Shares of Incyte closed yesterday at $117.93. INCY has a 1-year high of $133.62 and a 1-year low of $43.86. The stock’s 50-day moving average is $115.12 and its 200-day moving average is $106.64.
On the ratings front, Incyte has been the subject of a number of recent research reports. In a report issued on September 15, Cowen analyst Eric Schmidt reiterated a Buy rating on INCY. Separately, on September 8, Jefferies Co.’s Thomas Wei initiated coverage with a Buy rating on the stock and has a price target of $140.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Eric Schmidt and Thomas Wei have a total average return of 31.2% and 11.5% respectively. Schmidt has a success rate of 49.3% and is ranked #53 out of 3755 analysts, while Wei has a success rate of 56.4% and is ranked #243.
Overall, one research analyst has assigned a Hold rating and 7 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $131.67 which is 11.7% above where the stock closed yesterday.
Incyte Corpis a biopharmaceutical company. It discovers, develops and commercializes proprietary small molecule drugs to treat serious unmet medical needs, mainlyin oncology.