UBS likes Incyte despite epacadostat flop in melanoma

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

In a note, UBS' Carter Gould (BUY/$78) has upgraded Incyte (NASDAQ:INCY) despite the recent Phase 3 failure of epacadostat saying the stock is now a "cleaner story will less downside" (very true after the recent plunge).

He has increased peak sales estimates for Jakafi to $3.3B (from $2.8B) in 2027 and values the company's base business at $65/share before considering its pipeline.

Previously: Incyte's epacadostat flunks late-stage melanoma study (April 6)

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