Incyte Reports Positive Results From Skin Therapy Study; Wells Fargo Cuts Price Target; Shares Drop

MT Newswires Live

Mar 18, 2025

Incyte's (INCY) shares dropped on Monday, the same day Wells Fargo cut its price target for the company to $58 from $70.

Following a choppy premarket activity, the shares were trading 7% lower on higher volume than its daily average.

Earlier on Monday, the company reported positive topline results from from two late-stage trials of povorcitinib in hidradenitis suppurativa, a type of skin condition.

According to the company, both the STOP-HS1 and STOP-HS2 studies met their primary goals at the tested doses of 45 milligrams and 75 milligrams. A "significantly higher" portion of subjects treated on its medicine had a reduction in their symptoms when compared to placebo after 12 weeks of treatment.

The data will support the planned regulatory submission for the drug, Incyte said.

Price: 63.07, Change: -4.79, Percent Change: -7.05

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A \"significantly higher\" portion of subjects treated on its medicine had a reduction in their symptoms when compared to placebo after 12 weeks of treatment.</p><p>The data will support the planned regulatory submission for the drug, Incyte said.</p><p>Price: 63.07, Change: -4.79, Percent Change: -7.05</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WFC","symbol_name":"富国银行","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2520503787","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2520503787","pubTimestamp":1742233033,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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