Stock Update (NASDAQ:ICPT): Intercept Receives Breakthrough Therapy Designation From FDA
Intercept Pharmaceuticals, Inc. (Nasdaq:ICPT) (Intercept), today announced that its investigational product obeticholic acid (OCA) has received “breakthrough therapy designation” from the U.S. Food and Drug Administration (FDA) for the treatment of patients with nonalcoholic steatohepatitis (NASH) with liver fibrosis. This indication constitutes a population of patients with a serious and life-threatening condition reflected by a higher risk of progression to cirrhosis and liver failure. OCA is currently being developed for the treatment of several chronic liver diseases, including primary biliary cirrhosis (PBC), NASH and primary sclerosing cholangitis (PSC)… Read more »
Shares of Intercept Pharmaceuticals Inc opened today at $171.33 and are currently trading down at $170.5399. ICPT has a 1-year high of $484.99 and a 1-year low of $128.50. The stock’s 50-day moving average is $153.92 and it’s 200-day moving average is $211.16.
On the ratings front, Intercept has been the subject of a number of recent research reports. In a report released yesterday, Oppenheimer analyst Akiva Felt reiterated a Buy rating on ICPT, with a price target of $375, which represents a potential upside of 118.9% from where the stock is currently trading. Separately, on January 22, Deutsche Bank’s Alethia Young maintained a Buy rating on the stock and has a price target of $300.
In total, one research analyst has rated the stock with a Sell rating, one research analyst has assigned a Hold rating and 12 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $171.33 which is 68.9% above where the stock opened today.
Intercept Pharmaceuticals Inc is a development stage, Biopharmaceutical Company engaged in the development and commercialization of novel therapeutics to treat chronic liver disease utilizing its proprietary bile acid chemistry.