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Biotech / Medical : Incyte (INCY)
INCY 104.18+0.1%3:59 PM EST
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To: LLCF who wrote (1285)1/3/2000 2:10:00 PM
From: Biomaven  Read Replies (1) of 3202
 
Well here comes AB with a QCOM/AMZN-like price target. I gave up and bought back the shares I sold in the pop - and Uncle Sam probably won't even send me a nice "thank-you" note.

Peter

Headline: RESEARCH ALERT-Incyte target raised to $157 share

======================================================================
LOS ANGELES, Jan 3 (Reuters) - Deutsche Banc Alex. Brown on
Monday raised to $157 its 12-month price target on shares of
Incyte Pharmaceuticals Inc. (NASDAQ:INCY), which provides genomic
information and related data management software products to
the pharmaceutical industry.
-- Shares of Incyte were up 12-3/8 at 72-3/8 on Nasdaq by
Monday afternoon.
-- The firm said believes that a combination of anticipated
new deal announcements and a major acceleration in revenue
growth could fuel significant investor interest.
-- believes Incyte is close to signing a number of new
pharmaceutical/biotechnology company collaborations that would
supplement the major deal expansions with AstraZeneca and
Pfizer signed last quarter.
-- said new deals could include: new LifeSeq Gold
partnerships, collaborations focused on Incyte's burgeoning
genetic variability program, and/or new LifeExpress
partnerships.
-- said Incyte was due to make a presentation at the
annual Hambrecht & Quist conference on Monday, Jan. 10.
-- said it expected a major acceleration in revenue growth
driven by Incyte's recent strong deal activity to become
apparent when the company reports fourth-quarter 1999 results
in the second half of January.
-- said Incyte shares remain undervalued relative to a
group of six other genomics companies.
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