Wedbush Maintains Outperform on Intercept Pharmaceuticals Inc on Back of Recent Data Presentations
Intercept Pharmaceuticals Inc (NASDAQ:ICPT) received another set of praises from analysts at Wedbush in a research note released today. The research team, led by analyst Liana Moussatos maintained an Outperform rating on the stock with a $493 price target/acquisition value, following the company's Analyst and Investor presentation on March 20, 2015, where it presented new subgroup analyses from the Phase 2b FLINT trial.
Moussatos stated, "We believe these results further de-risk the Phase 3 guided to initiate soon after completion of the trial design in Q2:15. Furthermoe, "We are encouraged with the consistent improvement in NASH parameters regardless of fibrosis stage or comorbidities. We believe these results suggest reduced clinical risk for the Phase 3 trial, as we understand will likely enroll NASH patients with fibrosis stage 2, 3 (population selected in OCA’s FDA Breakthrough designation) and in patients with diabetes and/or obesity."
According to TipRanks.com, which measures analysts' and bloggers' success rate based on how their calls perform, analyst Liana Moussatos has a total average return of 54.0% and a 74.5% success rate. Moussatos has a 138.3% average return when recommending ICPT, and is ranked #3 out of 3546 analysts.