Oppenheimer analyst Jay Olson maintained a Hold rating on Intercept Pharma (NASDAQ: ICPT) today and set a price target of $100. The company’s shares closed on Friday at $111.58.
“While we found no major NASH surprises in AASLD abstracts (10/1), there was an important new study presented (10/4) at EASD showing dramatic effects of LLY’s dual GLP-1/GIP agonist on weight loss in type 2 diabetics. Non-surgical weight loss is a first line treatment for NASH. GLP-1 receptor agonists have been studied and approved for weight loss. LLY’s new drug (LY3298176) has data showing 11.3kg (~25lb) weight loss after 26 weeks at the top dose. It’s unclear what role GLP-1 drugs will play in NASH treatment so we expect to discuss this and other topics with experts at AASLD. Meanwhile, we update our ICPT model ahead of 3Q results and AASLD.”
According to TipRanks.com, Olson is ranked 0 out of 5 stars with an average return of -2.7% and a 42.8% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
Currently, the analyst consensus on Intercept Pharma is a Moderate Buy with an average price target 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 491.5K.
Based on the recent corporate insider activity of 35 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.