In a report released today, Jim Birchenough from Wells Fargo reiterated a Buy rating on Intercept Pharma (NASDAQ: ICPT). The company’s shares opened today at $172.01.
Birchenough observed, “We see significant risk to the ongoing 12 month study for GR-MD-02 and limited competitive risk to ICPT, whose scarcity value should increase with overwhelmingly positive phase 2b FLINT data for OCALIVA on NASH resolution and fibrosis reversal, breakthrough therapy designation from FDA, ongoing phase 3 progress and approval with accelerating launch trends in primary biliary cirrhosis (PBC).”
According to TipRanks.com, Birchenough is a top 100 analyst with an average return of 22.1% and a 53.0% success rate. Birchenough covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Inc., Applied Genetic Technologies, and Aeglea Biotherapeutics Inc.
Currently, the analyst consensus on Intercept Pharma is Moderate Buy and the average price target is $189.29, representing a 10.0% upside.
In a report issued on September 20, Cowen & Co. also reiterated a Buy rating on the stock with a $216 price target.
Based on Intercept Pharma`s latest earnings report from June 30, the company posted quarterly revenue of $5.52M and quarterly net profit of -$77.3M. In comparison, last year the company earned revenue of $445K and had a net profit of -$47.89M.
Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is neutral on the stock. Last month, Lisa Bright, a the Chief Commercial & Corporate Affairs Officer of ICPT sold 246 shares for a total of $39,114.
Intercept Pharmaceuticals, Inc. is a development stage biopharmaceutical company. It focuses on the discovering, developing and commercializing of novel therapeutics to treat chronic liver diseases utilizing its proprietary bile acid chemistry. It develops obeticholic acid, a bile acid analog that is in Phase III clinical trials for the treatment of primary biliary cirrhosis; in Phase IIa clinical trial to treat portal hypertension; in Phase II clinical trial for the treatment of alcoholic hepatitis; in Phase IIb clinical trial for the treatment of nonalcoholic steatohepatitis; and in Phase IIa clinical trial to treat bile acid diarrhea. Intercept Pharmaceuticals was founded by Mark E. Pruzanski and Roberto Pellicciari on September 4, 2002 and is headquartered in New York, NY.