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ICPT

Intercept

$126.48

-0.27 (-0.21%)

, GILD

Gilead

$77.99

0.77 (1.00%)

07:59
10/02/18
10/02
07:59
10/02/18
07:59

Jefferies sees Intercept moving higher after 'mixed' Gilead data

Jefferies analyst Michael Yee views Gilead Sciences' (GILD) new six-month nonalcoholic steatohepatitis data as "mixed and undifferentiated." As such, he thinks shares of Intercept Pharmaceuticals (ICPT) probably continue to move higher. The stock is likely to retrace back up into year-end and the first half of 2019 as Street realizes Intercept's Phase III will be positive and de-risked, Yee tells investors in a research note. He says the company has had various competitor Farnesoid X receptor data in Phase I/II read out over the past year or and that these have ended up not too differentiated. This has removed some of the competitive overhang on Intercept, the analyst contends. Yee keeps a Buy rating on the shares with a $135 price target.

ICPT

Intercept

$126.48

-0.27 (-0.21%)

GILD

Gilead

$77.99

0.77 (1.00%)

  • 03

    Oct

  • 22

    Oct

ICPT Intercept
$126.48

-0.27 (-0.21%)

09/12/18
09/12/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Arch Therapeutics (ARTH) initiated with a Buy at Ladenburg. 2. International Money Express (IMXI) initiated with a Buy at BTIG. 3. Intercept (ICPT) initiated with a Buy at Roth Capital. 4. Huntington Ingalls (HII) initiated with a Buy at Buckingham. 5. Zogenix (ZGNX) initiated with an Outperform at Northland. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/01/18
CANT
10/01/18
UPGRADE
Target $170
CANT
Overweight
Intercept assumed with an Overweight from Neutral at Cantor Fitzgerald
Cantor Fitzgerald analyst Alethia Young upgraded Intercept Pharmaceuticals to Overweight from Neutral after taking over coverage of the name. The analyst raised Cantor's price target for the shares to $170 from $69. Young sees a "key inflection" coming in 2019 with Regenerate data.
10/02/18
RAJA
10/02/18
DOWNGRADE
RAJA
Outperform
Intercept downgraded to Outperform from Strong Buy at Raymond James
10/02/18
10/02/18
DOWNGRADE

Outperform
Intercept downgraded to Outperform on valuation at Raymond James
As previously reported, Raymond James downgraded Intercept to Outperform from Strong Buy and raised its price target to $141 from $126. Analyst Steven Seedhouse said risk/reward is favorable ahead of the pivotal REGENERATE data in 1H 2019, but said some of the binary upside from his original thesis is reflected in shares.
GILD Gilead
$77.99

0.77 (1.00%)

09/13/18
JPMS
09/13/18
INITIATION
Target $140
JPMS
Overweight
Galapagos NV initiated with an Overweight at JPMorgan
JPMorgan analyst James Quigley started Galapagos NV (GLPG) with an Overweight rating and $140 price target. The company's key value driver is filgotinib, a selective JAK1 inhibitor which has shown potential best in class data in inflammatory diseases and is licensed to Gilead (GILD), Quigley tells investors in a research note. The analyst forecasts peak in market filgotinib sales of EUR 4.4B. Quigley also sees value in Galapagos' wholly owned GLPG1690, which he says could be the first drug to halt disease progression in idiopathic pulmonary fibrosis.
09/25/18
JPMS
09/25/18
NO CHANGE
JPMS
Overweight
Diplomat Pharmacy weakness on Gilead generics overdone, says JPMorgan
JPMorgan analyst Lisa Gill says the weakness yesterday in shares of Diplomat Pharmacy (DPLO) following Gilead's (GILD) announcement that it will be launching new authorized generic versions of hepatitis C treatments Epclusa and Harvoni is a "significant overreaction." Hepatitis C represents a relatively small portion of revenue for Diplomat Pharmacy, and as such, these two drugs are not material, Gill tells investors in a research note. Further, the analyst believes it is unclear whether payors will adopt the authorized generic in lieu of continuing to receive rebates on the branded drugs. In addition, Gill thinks Diplomat should be able to purchase the new authorized generics at a discount to the new list price with a higher gross margin spread relative to the brand. The analyst keeps an Overweight rating on the shares.
09/25/18
JEFF
09/25/18
INITIATION
Target $75.5
JEFF
Buy
Cambrex initiated with a Buy at Jefferies
Jefferies analyst David Windley started Cambrex (CBM) with a Buy rating and $75.50 price target. The analyst sees the company, as a leading manufacturer of small molecule active pharmaceutical ingredients, benefiting from increased API outsourcing. He adds that his Gilead (GILD) analysis, Cambrex's top customer, is "differentiated and positive."
10/01/18
CANT
10/01/18
INITIATION
Target $87
CANT
Overweight
Gilead initiated with an Overweight at Cantor Fitzgerald
Cantor Fitzgerald analyst Alethia Young started Gilead Sciences with an Overweight rating and $87 price target.

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COUP

Coupa Software

$92.39

-1.36 (-1.45%)

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OHRP

Ohr Pharmaceutical

$2.01

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IMDZ

Immune Design

$5.81

4.385 (307.72%)

, MRK

Merck

$79.79

0.35 (0.44%)

10:46
02/21/19
02/21
10:46
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10:46
Downgrade
Immune Design, Merck rating change  »

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IMDZ

Immune Design

$5.81

4.385 (307.72%)

MRK

Merck

$79.79

0.35 (0.44%)

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ANET

Arista Networks

$266.95

-3.58 (-1.32%)

10:45
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10:45
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NKE

Nike

$83.97

-0.87 (-1.03%)

10:40
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10:40
On The Fly
Analyst sees 'minimal' lasting damage to Nike brand after Duke star's shoe splits »

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WFT

Weatherford

$0.79

-0.0263 (-3.21%)

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KAR

KAR Auction

$48.30

1.56 (3.34%)

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NCLH

Norwegian Cruise Line

$55.71

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BSX

Boston Scientific

$40.03

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SNPS

Synopsys

$100.68

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NWL

Newell Brands

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