Jefferies lifts target on Incyte

|About: Incyte Corporation (INCY)|By:, SA News Editor

Jefferies has some "positive commentary from four investigators involved" in Incyte's (INCY +3.3%) Phase 2 IDO inhibitor/ ipilimumab study.

Analyst Thomas Wei thinks the combo "could show a response rate at least in the 20-30% range, materially higher than IPI alone."

Wei is "unconcerned" with reports of elevated liver enzymes.

Price target hiked to $75 from $44.