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ICPT

Intercept

$128.45

-0.05 (-0.04%)

, CBAY

CymaBay

$5.65

-0.15 (-2.59%)

10:21
07/17/17
07/17
10:21
07/17/17
10:21

Intercept slides as analyst calls CymaBay drug 'true contender' after data

Shares of Intercept Pharmaceuticals (ICPT) are sliding after H.C. Wainwright analyst Ed Arce raised his price target for its competitor CymaBay Therapeutics (CBAY) following data from the company's Phase 2 study of seladelpar in primary biliary cholangitis. The analyst argued that the latter's results "are more robust" than Intercept's Ocaliva. STUDY RESULTS: CymaBay has announced interim results from its ongoing low-dose Phase 2 study of seladelpar in patients with primary biliary cholangitis, or PBC, a life-threatening and life-limiting chronic cholestatic liver disease. A planned interim analysis of the first 24 patients enrolled in the 5 mg or 10mg dose groups demonstrated after 12 weeks of treatment a significant alkaline phosphatase, or AP, reduction from baseline of 39% and 45%, respectively. On seladelpar, 45% of patients in the 5mg and 82% of patients in the 10 mg dose groups had AP values less than 1.67 times the upper limit of normal, or ULN. There were no serious adverse events and no safety transaminase signal was observed at either dose, said the company, which added that, consistent with prior studies, there was no signal for drug-induced pruritus. After sharing preliminary results from the study, the Food and Drug Administration has agreed to allow continuation of seladelpar treatment beyond six months for the 5 mg and 10 mg doses. 'TRUE CONTENDER' TO OCALIVA: In a research note this morning, H.C. Wainwright's Arce raised his price target for CymaBay to $12 from $7 following the report of the 12-week Phase 2 results of its seladelpar, citing increased confidence in the drug's approvability and market potential. The analyst noted that he views CymaBay's results as "favorable" to those of Intercept Pharmaceutical's Ocaliva 10mg and believes it likely that seladelpar's efficacy grows stronger over time. Arce also added that he sees seladelpar as a "true contender" to Intercept's Ocaliva as the former's Phase 2 primary biliary cholangitis results "are most robust." He reiterated a Buy rating on Cymabay. PRICE ACTION: In morning trading, shares of Intercept Pharmaceuticals have dropped over 1% to $126.93, while CymaBay Therapeutics' stock has jumped almost 20% to $6.74.

ICPT

Intercept

$128.45

-0.05 (-0.04%)

CBAY

CymaBay

$5.65

-0.15 (-2.59%)

  • 17

    Jul

ICPT Intercept
$128.45

-0.05 (-0.04%)

07/17/17
HCWC
07/17/17
NO CHANGE
Target $12
HCWC
Buy
CymaBay price target raised to $12 from $7 at H.C. Wainwright
H.C. Wainwright analyst Ed Arce raised his price target for CymaBay (CBAY) to $12 saying the Phase 2 results of seladelpar in primary biliary cholangitis "are more robust" than Intercept Pharmaceutical's (ICPT) Ocaliva. The analyst notes that his new target reflects increased confidence in the approvability and market potential of seladelpar. He has a Buy rating on CymaBay.
05/05/17
LDLW
05/05/17
UPGRADE
LDLW
Hold
Intercept upgraded to Hold from Sell at Laidlaw
02/28/17
SBSH
02/28/17
NO CHANGE
Target $240
SBSH
Buy
Intercept price target lowered to $240 from $275 at Citi
Citi analyst Joel Beatty lowered his price target for Intercept Pharmaceuticals to $240 citing less upside potential over the next year with REGENERATE trial results still likely at least two years away. The analyst reiterates a Buy rating on Intercept, however, saying investors should get more comfortable that NASH is a "sizeable drug opportunity" as development of OCA and other NASH drugs advance.
02/24/17
BMOC
02/24/17
NO CHANGE
BMOC
Intercept price target raised to $221 from $198 at BMO Capital
BMO Capital analyst M. Ian Somaiya raised his price target on Intercept as he believes that updated launch metrics on the company's Ocaliva drug suggest that 2017 sales of the product will exceed expectations. He keeps an Outperform rating on the stock.
CBAY CymaBay
$5.65

-0.15 (-2.59%)

06/22/17
OPCO
06/22/17
INITIATION
Target $8
OPCO
Outperform
CymaBay initiated with an Outperform at Oppenheimer
Oppenheimer analyst Jay Olson started CymaBay with an Outperform rating and $8 price target.
03/24/17
ROTH
03/24/17
NO CHANGE
Target $6
ROTH
Buy
CymaBay recent pull back represents 'attractive entry point,' says Roth Capital
Roth Capital analyst Sa'ar Yaniv notes that CymaBay expects that data from two arms of the ongoing, second Phase 2 study of seladelpar in primary biliary cholangitis will be released in Q3, and data from the third arm will be available by YE17. The analyst believes that shares continue to trade up in front of the data, and with recent pull back, the current price represents an "attractive entry point." He reiterates a Buy rating and $6 price target on the shares.
01/30/17
HCWC
01/30/17
UPGRADE
Target $6
HCWC
Buy
CymaBay upgraded to Buy from Neutral at H.C. Wainwright
H.C. Wainwright analyst Ed Arce upgraded CymaBay to Buy citing the potential for up to $200M of milestone payments from Kowa, the company's new U.S. partner for arhalofenate, and a more positive view of the potential of MBX-8025 to treat Primary Biliary Cirrhosis. The analyst raised his price target for the shares to $6 from $2.50.

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