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ICPT

Intercept

$97.33

-3.88 (-3.83%)

, MDGL

Madrigal Pharmaceuticals

$251.28

0.48 (0.19%)

06:29
08/06/18
08/06
06:29
08/06/18
06:29

Intercept upgraded to Buy from Sell at Goldman Sachs

Goldman Sachs analyst Salveen Richter double upgraded Intercept Pharmaceuticals (ICPT) to Buy from Sell and raised his price target for the shares to $157 from $46. The stock closed Friday down 3.5%, or $3.57, to $97.26. The analyst says Ocaliva in fatty liver disease nonalcoholic steatohepatitis is the crux of Intercept's value proposition and that he's positive into the Phase 3 Regenerate interim readout in the first half of 2019. Richter this morning also downgraded Madrigal Pharmaceuticals (MDGL) to Neutral from Buy. He believes, however, that Madrigal's MGL-3196 is a "best-in-industry, next-generation" drug for nonalcoholic steatohepatitis. The analyst expects Intercept's Ocaliva will achieve one or both of the Phase 3 co-primary endpoints of NASH resolution and fibrosis improvement. He sees share upside of 60%-plus as the first half of 2019 catalyst approaches. Intercept should benefit from Ocaliva's global first-mover advantage in NASH, Richter tells investors in a research note. Goldman estimates peak global sales of NASH drugs to be $3.7B.

ICPT

Intercept

$97.33

-3.88 (-3.83%)

MDGL

Madrigal Pharmaceuticals

$251.28

0.48 (0.19%)

  • 14

    Aug

  • 30

    Aug

  • 31

    Aug

ICPT Intercept
$97.33

-3.88 (-3.83%)

08/03/18
LDLW
08/03/18
DOWNGRADE
LDLW
Hold
Intercept downgraded to Hold from Buy at Laidlaw
Laidlaw analyst Francois Brisebois downgraded Intercept to Hold from Buy with a $95 price target following the Q2 report citing valuation.
06/28/18
RAJA
06/28/18
INITIATION
Target $122
RAJA
Strong Buy
Intercept initiated with a Strong Buy at Raymond James
Raymond James analyst Steven Seedhouse initiated Intercept with a Strong Buy and $122 price target.
04/17/18
WEDB
04/17/18
NO CHANGE
Target $203
WEDB
Outperform
Intercept price target lowered to $203 from $256 at Wedbush
Wedbush analyst Liana Moussatos lowered her price target for Intercept to $203 from $256, citing reduced OCALIVA sales projections and diluted shares outstanding from financing. The analyst reiterates an Outperform rating on the shares.
04/16/18
JEFF
04/16/18
NO CHANGE
Target $135
JEFF
Buy
Jefferies sees 'undervalued' Intercept shares 'climbing back higher'
At "only" a $1.8B market capitalization following the pullback over the past year, shares of Intercept Pharmaceuticals are "undervalued," Jefferies analyst Michael Yee tells investors in a research note after hosting investor meetings with management. The analyst sees the stock "climbing back higher" as U.S. Ocaliva scripts stabilize and the 2019 Phase 3 data release in nonalcoholic steatohepatitis gets closer. The analyst expects the data to be positive. He keeps a Buy rating on Intercept with a $135 price target.
MDGL Madrigal Pharmaceuticals
$251.28

0.48 (0.19%)

08/06/18
GSCO
08/06/18
DOWNGRADE
Target $314
GSCO
Neutral
Madrigal Pharmaceuticals downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Salveen Richter downgraded Madrigal Pharmaceuticals to Neutral with an unchanged price target of $314. The stock closed Friday down 41c to $250.93. The analyst continues to view MGL-3196 as a "best-in-industry, next-generation drug" for nonalcoholic steatohepatitis. However, with the stock up 173% year-to-date, he believes Madrigal is entering a "period of limited value-driving catalysts." Richter, while admitting a buyout could occur, sees limited upside in the shares.
07/12/18
CANT
07/12/18
INITIATION
Target $59
CANT
Overweight
Cantor puts $59 price target on 'undervalued' NASH play Galmed
Cantor Fitzgerald analyst Elemer Piros last night initiated coverage of Galmed Pharmaceuticals (GLMD) with an Overweight rating and $59 price target. The stock closed yesterday down 45c to $10.55. The company is developing Aramchol, a novel, once-daily, oral therapy to treat liver diseases using fattyacid/bile-acid conjugates, Piros tells investors in a research note. The analyst believes that by Q4 of 2019, only three meaningful non-alcoholic steatohepatitis pivotal programs will be in development: Allergan's (AGN) cenicriviroc, Madrigal Pharmaceuticals' (MDGL) MGL-3196, and Galmed's Aramchol. Of the three drugs, Galmed's has the highest likelihood of achieving improvement on NASH resolution without worsening of fibrosis, and improvement in fibrosis score without worsening of NASH, Piros argues. He believes Galmed is undervalued relative to peers in the NASH space.
06/28/18
RAJA
06/28/18
INITIATION
RAJA
Market Perform
Madrigal Pharmaceuticals initiated with a Market Perform at Raymond James
06/19/18
06/19/18
DOWNGRADE
Target $300

In Line
Madrigal cut to In Line at Evercore ISI following run-up in price, expectations
As previously reported, Evercore ISI analyst Josh Schimmer downgraded Madrigal Pharmaceuticals (MDGL) to In Line from Outperform, stating that he has no real incremental reason to raise his $300 price target, which the stock has achieved following the company's encouraging Phase 2 results for MGL-3196 and a Bloomberg report that has driven takeover speculation. Given current investor sentiment, anything short of either an acquisition or a "massive" collaboration like Bristol-Myers' (BMY) with Nektar (NKTR) will fall short of expectations, Schimmer tells investors.

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AYI

Acuity Brands

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