Incyte (INCY) Message Board

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Biotech / Medical : Incyte (INCY)

INCY 101.78

+0.5%

3:59 PM EST

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To: Rocketman who wrote (592)	4/16/1998 11:06:00 AM
From: Andreas Helke	Read Replies (1) of 3202

At Lehman Brothers I found a current research report about Incyte. lehman.com This report will probably disappear rather quickly as it is at the bottom of the list. Earnings/share and estimates are 97 0.43 98 0.74 99 0.97 00 1.72 01 2.51 Lehmans has an outperform rating and a 12 month target of $61 share based on a PE of 50 of 2001 earnings (I consider this PE to be rather optimistic) and a 30% yearly discount rate. Depending on assumed earnings multiples and yearly discount rates I come to fair prices today between $30 and $40. Lehmans does not expect much earnings growth from Incytes database subscriptions due to market saturation and increasing competition. They think that near term earnings growth will be driven by DNA arrays. Longer term diagnostics from diaDexus should be important. Andreas

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