Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on Intercept Pharma (ICPT) today and set a price target of $191. The company’s shares closed on Friday at $100.94.
Young wrote:
“We reiterate our Overweight rating and 12-month PT of $170 on shares of ICPT. We believe that Intercept will have a positive readout in the company’s Ph3 study called REGENERATE (reading out likely April/May 2019), which is to treat patients with NASH. Though crowded, we also think that NASH is a big market and Intercept’s Ocaliva could be one of the first drugs approved for NASH. Valuation Summary We have a $170 price target on shares of ICPT. We use a probability adjusted DCF to value Intercept shares. We assume a discount rate of 10%.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 7.7% and a 46.8% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.
Intercept Pharma has an analyst consensus of Strong Buy, with a price target consensus of $164, implying a 62.5% upside from current levels. In a report issued on February 28, B.Riley FBR also reiterated a Buy rating on the stock.
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The company has a one-year high of $133.74 and a one-year low of $58.03. Currently, Intercept Pharma has an average volume of 949.1K.
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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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