Cantor Fitzgerald Reiterates a Buy Rating on Intercept Pharma (ICPT)

By Jason Carr

Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on Intercept Pharma (ICPTResearch Report) today and set a price target of $170. The company’s shares opened today at $104.56.

Young observed:

“: We reiterate our Overweight rating and $170 12-month price target. We think Elafibranor Ph2 PBC data from Genfit (GNFT.PA, Not covered) looks competitive among Ph2 assets but we do not view today’s update as a near or mid-term threat to ICPT’s OCA. Elafibranor Ph2 looks broadly similar to recently updated Sedalapar data (for 52-week analysis) from Cymabay (CBAY, OW E. Merle) which is not surprising as both are PPAR agonists, but detailed full data could be helpful in comparing the efficacy and safety profiles of these assets. We think pivotal PBC trial enrollment will take time before either asset would pose a commercial threat to OCA in PBC. We remain focused on REGENERATE readout in NASH for ICPT in 1H 2019.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 4.7% and a 47.4% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Puma Biotechnology, and PTC Therapeutics.

Intercept Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $145.81.

See today’s analyst top recommended stocks >>

The company has a one-year high of $133.74 and a one-year low of $51.05. Currently, Intercept Pharma has an average volume of 449.8K.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Intercept Pharmaceuticals, Inc. 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. The company was founded by Mark E. Pruzanski and Roberto Pellicciari on September 4, 2002 and is headquartered in New York, NY.