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Biotech / Medical : Incyte (INCY)

INCY 105.71

+3.6%

3:16 PM EST

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To: George Sepetjian who wrote (598)	5/11/1998 11:46:00 AM
From: George Sepetjian	Read Replies (1) of 3202

Another Downgrade-rush to judgment? Genesis Downgrades Incyte to Hold from Strong Buy May 11, 1998 11:25 AM SAN FRANCISCO, May 11 /PRNewswire/ -- Genesis Merchant Group Securities downgraded Incyte Pharmaceuticals, Inc. INCY to Hold from Strong Buy. Genesis analyst Deepa Pakianathan said, "A new company is being formed by Perkin-Elmer and The Institute for Genome Research's Craig Venter to sequence the human genome within the next three years. We believe this will accelerate the devaluation of commercial databases like Incyte's because the new company will make the information available to the scientific community." "We expect that, as freely available human genome information becomes available over the next three years, this will negatively impact Incyte's ability to sign on new subscribers to LifeSeq and LifeSeqFL," added Pakianathan. SOURCE Genesis Merchant Group Securities Top Terms of Use, and Privacy Policy. c 1996-98 Microsoft Corporation and/or its suppliers. All rights reserved. c 1998 PR Newswire. All rights reserved.

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