BMO Capital Thinks Intercept Pharma’s Stock is Going to Recover

By Jason Carr

In a report released yesterday, Ian Somaiya from BMO Capital reiterated a Buy rating on Intercept Pharma (NASDAQ: ICPT), with a price target of $221. The company’s shares opened today at $98.12, close to its 52-week low of $90.53.

According to TipRanks.com, Somaiya is a 5-star analyst with an average return of 20.0% and a 62.9% success rate. Somaiya covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Aeglea Biotherapeutics Inc, and Corcept Therapeutics Inc.

Currently, the analyst consensus on Intercept Pharma is Moderate Buy and the average price target is $206.17, representing an 110.1% upside.

In a report released yesterday, Citigroup also maintained a Buy rating on the stock with a $240 price target.

Based on Intercept Pharma’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $30.89 million and GAAP net loss of $86.56 million. In comparison, last year the company earned revenue of $5.52 million and had a GAAP net loss of $77.3 million.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock.

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Intercept Pharmaceuticals is a biopharmaceutical company, which engages in the research, development, and commercialization of novel therapeutics in treating chronic liver diseases. Its product pipeline is OCALIVA which is used for the treatment of primary biliary cholangitis, nonalcoholic steatohepatitis, primary sclerosing cholangitis, and biliary atresia.