On the fly News and insights, exclusive to thefly.com



$17.24 /

-1.8 (-9.45%)


Intercept selloff 'strong buying opportunity,' says Piper Sandler

Piper Sandler analyst Yasmeen Rahimi views today's post-earnings selloff in shares of Intercept Pharmaceuticals as a "strong buying opportunity." Management offer more color on the newly identified safety signal "hanging over" Ocaliva, guiding to a narrowed label being announced imminently which restricts access to primary biliary cholangitis patients with decompensated cirrhosis and compensated cirrhosis with portal hypertension, Rahimi tells investors in a research note. Importantly, management reiterated that these subsets of cirrhotic patients do not make up a significant portion of Ocaliva's target population and would not impact sales going forward, adds the analyst. Further, Rahimi views Intercept retracting its guidance for an Ocaliva resubmission in nonalcoholic steatohepatitis for the U.S. and E.U. as a "smart move." Rahimi keeps an Overweight rating on Intercept with an $82 price target. The stock in afternoon trading is down 10% to $17.11.

  • 06


  • 27


  • 18


ICPT Intercept
$17.24 /

-1.8 (-9.45%)

05/06/21 Stifel
Intercept price target lowered to $16 from $29 at Stifel
03/12/21 H.C. Wainwright
Intercept upgraded to Neutral from Sell at H.C. Wainwright
03/09/21 Piper Sandler
CymaBay positioned for share gains, says Piper Sandler
03/02/21 Needham
Intercept price target lowered to $34 from $80 at Needham

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.