Intercept Pharmaceuticals Inc (NASDAQ:ICPT) a clinical stage biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat chronic underserved liver diseases, such as primary biliary cirrhosis (PBC) and nonalcoholic steatohepatitis (NASH), today announced the appointment of Richard Kim as Senior Vice President, Commercial Head of U.S.
“Richard brings a wealth of experience in biopharmaceutical sales and marketing to Intercept at an important time in our company’s growth,” said Lisa Bright, Chief Commercial and Corporate Affairs Officer. “His proven leadership and product launch experience will be a great asset as we look forward to the anticipated approval and U.S. launch of obeticholic acid (OCA) in PBC.”
Mr. Kim most recently served as General Manager, Hepatitis C, Worldwide Commercialization at Bristol-Myers Squibb, where he led the worldwide strategy and commercialization for daclatavir and asunaprevir. During his tenure at Bristol-Myers Squibb, Mr. Kim held multiple positions of increasing responsibility over more than ten years, co-leading a national Cardiovascular and Metabolics sales force and managing both U.S. and global commercial activities for a portfolio of oncology therapies. Prior to joining Bristol-Myers Squibb, Mr. Kim worked at Schering-Plough (now a part of Merck & Co.) holding various positions in Canada, the U.S., and Australia.
“Over the course of my career, I’ve had an opportunity to contribute to profound advancements in human health and I’m thrilled to continue this work with Intercept as we prepare for the anticipated launch of OCA next year,” said Mr. Kim. “If approved, OCA will represent the first new medicine for PBC in almost two decades.” (Original Source)
Shares of Intercept Pharmaceuticals closed today at $271.32, down $5.83 or 2.1%. ICPT has a 1-year high of $349.08 and a 1-year low of $128.50. The stock’s 50-day moving average is $251.52 and its 200-day moving average is $242.78.
On the ratings front, Intercept Pharmaceuticals has been the subject of a number of recent research reports. In a report issued on July 1, MLV & Co. analyst Vernon Bernardino reiterated a Hold rating on ICPT, with a price target of $273, which represents a slight downside potential from current levels. Separately, on June 30, Robert W. Baird’s Brian Skorney reiterated a Buy rating on the stock and has a price target of $344.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vernon Bernardino and Brian Skorney have a total average return of -5.3% and 23.5% respectively. Bernardino has a success rate of 37.5% and is ranked #3444 out of 3711 analysts, while Skorney has a success rate of 72.5% and is ranked #94.
The street is mostly Bullish on ICPT stock. Out of 12 analysts who cover the stock, 9 suggest a Buy rating and 3 recommend to Hold the stock. The 12-month average price target assigned to the stock is $409.09, which implies an upside of 46.9% from current levels.
Intercept Pharmaceuticals Inc is a biopharmaceutical company. The Company is engaged in the development and commercialization of novel therapeutics to treat chronic liver disease utilizing its proprietary bile acid chemistry.