.jpg "Intercept Pharma (NASDAQ: ICPT)")
Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on Intercept Pharma (NASDAQ: ICPT) today and set a price target of $170. The company’s shares opened today at $96.01.
Young said:
“: We reiterate our Overweight rating and price target of $170. Intercept hosted its 3Q earnings call today. Ocaliva sales were roughly in line with FactSet consensus. With the recent pullback in the market, we are very positive on Intercept shares and view them as a top pick over 2019. In our recent launch, we discuss why we have conviction in this trial. Post-call conversation with management: we focused on what underpins its conviction in its Ph3 NASH trial called REGENERATE. One interesting tidbit is an abstract at AASLD (the liver meeting in Nov.), where safety and PK are to be evaluated for 10mg and 25mg in patients with compensated cirrhosis due to NASH.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 3.6% and a 44.7% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Puma Biotechnology, and PTC Therapeutics.
Intercept Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $145.75.
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Based on Intercept Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $75.19 million. In comparison, last year the company had a GAAP net loss of $72.6 million.
Based on the recent corporate insider activity of 37 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.
