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Incyte reiterated by JMP at strong buy
Incyte Corp. was reiterated by JMP Securities analyst Adam Cutler at a strong buy rating with a $12 price target on the stock after the company released phase IIb data on its HIV drug Reverset. JMP sees the data as positive and sees Incyte's other pipeline programs gaining visibility in the next six to 12 months. Incyte shares Monday fell $1.34, or 15.30%, to close at $7.42 on volume of 9,316,538 shares versus the three-month running average of 794,286 shares.
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