Why Incyte Stock Was Tanking This Week
A less-than-encouraging clinical trial for an investigative medicine was the news driving down (NASDAQ: INCY) stock over the past few days. The gloom this produced was pushing the biotech's share price down by nearly 11% week to date as of Friday before market open.
On Monday, Incyte published the top-line results from two phase 3 trials of its povorcitinib, a treatment aimed at combating moderate to severe hidradenitis suppurativa (HS), also known as acne inversa. This is a chronic and inflammatory skin condition that can result in scarring, among other complications.
In each of the trials, the drug met its primary endpoint of a significant (50%-plus) reduction from baseline in abscess and inflammatory nodule count versus a placebo, with no advances in abscess or draining tunnel count. Both of the tested doses achieved similar results.
Source Fool.com
Incyte Corp. Aktie
Die Community neigt bei Incyte Corp. zu Buy-Einschätzungen, mehr als zu Sell-Einschätzungen.
Ein Kursziel von 81 € für Incyte Corp. signalisiert eine potenzielle Steigerung von über 20% gegenüber dem aktuellen Kurs von 59.52 €.
