Incyte reports Q1 EPS (21c), consensus (18c) Reports Q1 total revenues $89.8M, consensus $97.19M. The company said, "The increase in net loss in Q1 as compared to the same period of 2013 is primarily due to the company’s broad investment in its clinical pipeline and additional costs related to the commercialization of Jakafi in MF and preparation for the anticipated launch in PV."
Incyte lowers FY15 Jakafi revenue view to $525M-$565M from $560M-$575M Lowers FY15 R&D expenses view to $450M-$500M from $475M-$500M. Lowers FY15 selling, general, and administrative expenses view to $180M-$200M from $195M-$210M.
Incyte price target raised to $125 from $115 at Leerink Leerink raised its price target for Incyte to $125 saying its survey of 49 U.S. hematologists indicated Jakafi has blockbuster potential in polycythemia vera. The firm keeps an Outperform rating on the stock.