Intercept Pharmaceuticals Inc (NASDAQ:ICPT), a clinical stage biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat chronic underserved liver diseases, today announced the initiation of a Phase 1 study of INT-767, a dual farnesoid X receptor (FXR) and TGR5 agonist, in healthy volunteers.
INT-767 is Intercept’s second bile acid analog to enter clinical development, and is a three-fold more potent FXR agonist than obeticholic acid (OCA), Intercept’s lead product candidate. INT-767 also activates TGR5, a second bile acid receptor. TGR5 has been shown to affect energy metabolism, glucose homeostasis, bile composition/secretion, and inflammation. INT-767 has potentially promising preclinical activity in both preventing and reversing organ damage due to fibrosis.
The goal of the Phase 1 study will be to assess safety and pharmacokinetics in a single ascending dose escalation phase followed by a multiple ascending dose phase in healthy volunteers.
“Advancing INT-767 into clinical development is another important milestone as we work to develop a portfolio of differentiated products to treat chronic liver diseases with high unmet medical need,” said Mark Pruzanski, M.D., Chief Executive Officer and President of Intercept. “We believe INT-767 has exciting clinical potential based on extensive preclinical study, and we look forward to the first clinical data to guide future development.” (Original Source)
Shares of Intercept Pharmaceuticals Inc opened today at $185.05and are currently trading down at $176.44. ICPT has a 1-year high of $314.88 and a 1-year low of $128.50. The stock’s 50-day moving average is $176.24 and its 200-day moving average is $216.29.
On the ratings front, Intercept Pharmaceuticals has been the subject of a number of recent research reports. In a report issued on November 19, Wedbush analyst Liana Moussatos reiterated a Buy rating on ICPT, with a price target of $493, which represents a potential upside of 166.4% from where the stock is currently trading. Separately, on November 18, Oppenheimer’s Akiva Felt reiterated a Buy rating on the stock and has a price target of $375.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Liana Moussatos and Akiva Felt have a total average return of 23.2% and 21.5% respectively. Moussatos has a success rate of 50.3% and is ranked #34 out of 3649 analysts, while Felt has a success rate of 57.5% and is ranked #76.
Overall, 2 research analysts have rated the stock with a Sell rating, one research analyst has assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $341.86 which is 84.7% above where the stock opened today.
Intercept Pharmaceuticals Inc is a biopharmaceutical company. The Company is engaged in the development and commercialization of novel therapeutics to treat chronic liver disease utilizing its proprietary bile acid chemistry.