There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Intercept Pharma (ICPT) and Spark Therapeutics (ONCE) with bullish sentiments.
Intercept Pharma (ICPT)
Needham analyst Alan Carr maintained a Buy rating on Intercept Pharma today and set a price target of $150. The company’s shares opened today at $131.67, close to its 52-week high of $133.74.
Carr noted:
“Intercept announced this morning that one of the two primary endpts of the Phase 3 REGENERATE trial in F2/F3 NASH was met w/ the highest dose tested (25mg QD Obeticholic Acid). As a reminder, only one of the endpts reportedly needed to be met per company discussions w/ FDA. A greater proportion of pts in the 25mg arm experienced improvement in fibrosis w/ no worsening of NASH than in pbo arm (23.1% vs. 11.9% p=0.0002). There was clear evidence of antifibrotic activity in the low dose 10mg arm and in the large exploratory pt population that included F1-3 NASH, however, the high statistical hurdle was not met. A general trend in favor of NASH resolution, the other primary endpt, was observed w/ 10mg and 25mg OCA. No apparent surprises in safety data. Mgmt guided for US/ EU regulatory submissions 2H19. OCA appears on track to be first drug approved for NASH.”
According to TipRanks.com, Carr is a 4-star analyst with an average return of 3.3% and a 43.7% success rate. Carr covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Lexicon Pharmaceuticals, and Crispr Therapeutics AG.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Intercept Pharma with a $162.79 average price target, implying a 23.6% upside from current levels. In a report issued on February 4, Oppenheimer also maintained a Buy rating on the stock with a $140 price target.
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Spark Therapeutics (ONCE)
In a report released today, Phil Nadeau from Cowen & Co. maintained a Buy rating on Spark Therapeutics, with a price target of $80. The company’s shares opened today at $51.55.
According to TipRanks.com, Nadeau is a 4-star analyst with an average return of 6.0% and a 49.5% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals Inc, Allogene Therapeutics Inc, and Voyager Therapeutics Inc.
Currently, the analyst consensus on Spark Therapeutics is a Moderate Buy with an average price target of $68, a 31.9% upside from current levels. In a report issued on February 12, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $80 price target.
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