Oppenheimer Keeps Their Hold Rating on Intercept Pharma (ICPT)


In a report released today, Jay Olson from Oppenheimer maintained a Hold rating on Intercept Pharma (NASDAQ: ICPT), with a price target of $100. The company’s shares opened today at $88.91.

Olson said:

“ICPT reported 3Q financial results with an update on key initiatives including preparation to commercialize OCA in NASH. Management provided insights from quantitative NASH market research that triggered several follow-up questions on the call. With investors focused on NASH, there was little concern for Ocaliva 3Q sales in PBC which slightly missed expectations at $36.7M in the US vs. our $37.1M estimate and $38.2M consensus, while ex-US sales of $9.9M were roughly in line with our estimate and consensus. EPS of ($2.18) was better than our ($2.59) estimate and ($2.56) consensus with the beat driven by lower spending. ICPT maintained Ocaliva net sales ($170-185M) and non-GAAP operating expense ($390-410M) guidance for 2018.”

According to TipRanks.com, Olson has 0 stars on 0-5 star ranking scale with an average return of -6.9% and a 34.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.

Intercept Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $145.75.

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The company has a one-year high of $133.74 and a one-year low of $51.05. Currently, Intercept Pharma has an average volume of 486.1K.

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.

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