.jpg "Intercept Pharma (NASDAQ: ICPT)")
In a report released today, Alethia Young from Cantor Fitzgerald reiterated a Buy rating on Intercept Pharma (ICPT), with a price target of $170. The company’s shares opened today at $131.67, close to its 52-week high of $133.74.
Young wrote:
“. We reiterate our Overweight rating and $170 PT. Positive Ph3 data on fibrosis de-risk this binary readout. Intercept announced this morning that the 25mg dose hit on one of the key endpoints, which is a one point change in fibrosis stage (OCA 23.1%, placebo 11.9%, p-value=0.0002). They saw a numerical trend on NASH resolution in the 25mg. Although this endpoint did not hit (25mg p-value=0.1268), we believe that the data profile for OCA will support approval; fibrosis is relevant for potential liver outcomes. Since there was a p-value of 0.0013 when F1 co-morbidities were added, we are interested to see more analysis around NASH resolution.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 5.3% and a 49.1% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Intercept Pharma with a $162.79 average price target, 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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Based on Intercept Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $64.45 million. In comparison, last year the company had a GAAP net loss of $111 million.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock.
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Intercept Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the research, development, and commercialization of novel therapeutics in treating chronic liver diseases. Its product pipeline is OCALIVA which is used for the treatment of primary biliary cholangitis, nonalcoholic steatohepatitis, primary sclerosing cholangitis, and biliary atresia. The company was founded by Mark E. Pruzanski and Roberto Pellicciari on September 4, 2002 and is headquartered in New York, NY.
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