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Biotech / Medical : Incyte (INCY)

INCY 102.94

-0.9%

11:14 AM EST

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To: sam who wrote (745)	10/15/1998 3:11:00 PM
From: Webhead	Read Replies (1) of 3202

Full Story. Don't forget that in addition to buying Hexagen, INCY is attempting to start a "tracking stock" to "unlock potential". Just ask GZTC or GENZL how they feel about their unlocked potential... All this adds to the uncertainly and justified fear of potential investors. Ed RESEARCH ALERT - Warburg cuts Incyte Reuters Story - October 15, 1998 09:56 NEW YORK, Oct 15 (Reuters) - Warburg Dillon Read on Thursday said it cut its rating on Incyte Pharmaceuticals Inc. to buy from strong buy, due to increased spending issues. Analyst A. Rachel Leheny said the company on Wednesday reported third quarter revenues of $34.7 million, which was higher than the $22.6 million reported last year but short of her estimate of $36.5 million. Incyte also reported third quarter earnings per share after extraordinary items of $0.20 for its Incyte General business and $0.15 for its Incyte consolidated business, which was "roughly" in line with estimates, Leheny said. Leheny said: -- over the next two or three quarters, Incyte will be adjusting to differences in booking revenues and expenses based on shifts in product base and the spinout of Incyte Genetics. -- the company's management has reduced its fourth quarter earnings estimate and said 1998 year EPS could be about $0.70 a share, with 1999 EPS projected at $0.91. -- she continues to believe that the long term prospects for the biotechnology company are positive.

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