Wedbush Remains Positive on Intercept Pharmaceuticals Inc Ahead of EASL’s International Liver Congress 2015
In a research note issued today, Wedbush analyst Liana Moussatos reiterated an Outperform rating on Intercept Pharmaceuticals Inc (NASDAQ:ICPT) with a $493 price target, as the company is expected to present two late-breaking presentations at the the International Liver Congress 2015 of the European Association for the Study of the Liver (EASL), which will take place April 22-26, 2015 at Reed Messe, Vienna, Austria.
Moussatos noted, “These presentations are expected to highlight the benefits of OCA use in highrisk NASH patients, the positive effects of combined OCA and statins on parameters for NASH, and the benefits of OCA and/or weight loss on various indicators for NASH. Recall in March, Intercept presented data showing that OCA improves clinical outcomes in high-risk NASH patients. Additionally, the company presented data showing that the use of statins with OCA successfully mitigated elevated LDL levels and had a synergistic effect on parameters for NASH. We believe the two late-breaking presentations will further support the benefits of OCA in NASH.”
Furthermore, “Intercept is expected to present new data analyses highlighting the benefits of OCA at attenuating bone-loss, improving various clinical outcomes, and improving long-term survival in PBC patients. As a reminder, we anticipate Intercept will complete the NDA and MAA submission for OCA in PBC by the end of this quarter.”
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 47.6% and a 69.9% success rate. Moussatos has a 106.6% average return when recommending ICPT, and is ranked #5 out of 3571 analysts.