In a report issued on January 7, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on Intercept Pharma (ICPT). The company’s shares closed yesterday at $110.82.
Mamtani noted:
“Earlier today (1/7/2019), Intercept Pharmaceuticals, Inc. (ICPT) announced two key updates to the two Phase III trials ongoing for its lead candidate, obeticholic acid (OCA), or Ocaliva, in patients afflicted with non-alcoholic steatohepatitis (NASH); (i) Phase III REGENERATE trial in F2-F3 NASH patients to report 72-week interim analysis data in 1Q, narrowing prior guidance of 1H19; and (ii) Phase III REVERSE trial in F4 NASH patients with compensated cirrhosis has now completed enrollment. In parallel, ICPT has also acquired U.S. rights to bezafibrate from Aralez Pharmaceuticals as an effort to pioneer the next phase of innovation for primary biliary cholangitis (PBC) patients after Ocaliva was originally approved by FDA in 2019. Financials of the deal were undisclosed.”
According to TipRanks.com, Mamtani is a 3-star analyst with an average return of 9.0% and a 80.0% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Allena Pharmaceuticals Inc, and Galmed Pharmaceuticals.
Intercept Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $141.19, which is a 27.4% upside from current levels. In a report issued on January 7, Cowen & Co. also maintained a Buy rating on the stock with a $120 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 57 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.
