Needham analyst Alan Carr maintained a Hold rating on Intercept Pharma (NASDAQ: ICPT) today. The company’s shares opened today at $96.01.
Carr commented:
“Intercept reported $36.7M in U.S. Ocaliva sales, slightly below our $38.0M and consensus $37M ests. WW sales were $46.6M, also below our $49.0M and consensus $48M ests. Mgmt noted weaker growth in new patients in but this resolved in Sept and mgmt reiterated 2018 sales guidance of $170- $185M. Phase 3 REGENERATE trial interim analysis for regulatory approval in NASH Fibrosis still expected 1H19. Next yr, mgmt plans to announce strategy in PSC, a drug- combination strategy for for and plans for development of earlier stage candidates, including INT-767 and INT-787. Maintain HOLD.”
According to TipRanks.com, Carr is a 3-star analyst with an average return of 1.9% and a 39.5% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Rhythm Pharmaceuticals Inc, and Iterum Therapeutics Plc.
Intercept Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $137.89, representing a 43.6% upside. In a report released today, Oppenheimer also maintained a Hold rating on the stock with a $100 price target.
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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.
