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ICPT

Intercept

$96.24

7.35 (8.27%)

07:25
11/26/19
11/26
07:25
11/26/19
07:25

Intercept price target raised to $257 from $243 at Wedbush

Wedbush analyst Liana Moussatos raised her price target for Intercept Pharmaceuticals to $257 from $243 after the FDA accepted the company's new drug application of obeticholic acid for the treatment of fibrosis due to nonalcoholic steatohepatitis and granted priority review. The analyst anticipates a positive FDA panel vote and approval for OCA. She projects potential achievement of blockbuster, or over $1B, revenue in 2024 after a potential U.S. launch in October 2020. Moussatos keeps an Overweight rating on shares of Intercept.

ICPT Intercept
$96.24

7.35 (8.27%)

10/18/19
JEFF
10/18/19
NO CHANGE
Target $125
JEFF
Buy
Jefferies likes setup for Intercept shares into 2020
Jefferies analyst Michael Yee says he left investor meetings more positive on 2020 setup for shares of Intercept Pharmaceuticals. Consensus is already negative on the obeticholic acid launch, expectations are low, and sales could do better than expected next year given the low numbers, Yee tells investors in a research note. He believes the risk/reward is skewed to the upside with shares "just above floor value" of primary biliary cirrhosis at $40 to $50. The value of nonalcoholic steatohepatitis is "heavily discounted" despite a large market opportunity and obeticholic acid being the likely first and only treatment "for the foreseeable future," adds Yee. He keeps a Buy rating on Intercept with a $125 price target.
11/06/19
RBCM
11/06/19
NO CHANGE
Target $134
RBCM
Outperform
RBC Capital sees Intercept as out-year multi-billion dollar opportunity
RBC Capital analyst Brian Abrahams is nudging his price target on Intercept down to $134 from $135 on adjustment of his model to a blend of DCF and probability-adjusted multiple but also keeping his Outperform rating on the stock after its Q3 results and raised FY19 Ocavia sales guidance. The analyst is positive on the company's "substantial progress establishing the commercial infrastructure and payer network ahead of the OCA launch in NASH" and believes that the stock is a multi-billion dollar out-year opportunity that is currently underappreciated by investors.
11/06/19
STFL
11/06/19
NO CHANGE
Target $86
STFL
Hold
Stifel says most Intercept investors still focused on upcoming OCA updates
Stifel analyst Derek Archila reiterates his Hold rating on Intercept shares after the company reported Q3 Ocaliva sales that were in-line with estimates and management raised full year sales guidance by 2%. He thinks the majority of investors are focused on whether or not obeticholic acid has an advisory committee meeting, whether it receives a priority review in NASH and the drug's potential PDUFA date in NASH, which he expects updates on within the next few weeks. He remains cautious on obeticholic acid's commercial viability in nonalcoholic steatohepatitis given unknowns that include the pricing strategy, payer requirements and real-world compliance, Archila noted.
11/25/19
STFL
11/25/19
NO CHANGE
Target $102
STFL
Hold
Intercept price target raised to $102 from $86 at Stifel
Stifel analyst Derek Archila raised his price target for Intercept Pharmaceuticals (ICPT) to $102 from $86 after the FDA accepted OCA's new drug application for nonalcoholic steatohepatitis and granted it a priority review. The stock in midday trading is up 10.5% to $98.24. The FDA plans to hold a panel meeting, which is in-line with expectations, Archila tells investors in a research note. In addition, CymaBay (CBAY) terminating its Phase 2b study in NASH due to atypical histology findings and halting its studies for seladelpar in primary biliary cirrhosis means Intercept will likely have one less competitor in NASH but more importantly, one less in PBC, says the analyst. He thinks CymaBay's issues are a positive development for Intercept's PBC franchise but keeps a Hold rating on the shares.

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