Intercept Pharma (ICPT) Gets a Buy Rating from B.Riley FBR

By Carrie Williams

In a report released today, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on Intercept Pharma (ICPTResearch Report), with a price target of $133. The company’s shares closed yesterday at $61.51, close to its 52-week low of $58.21.

Mamtani commented:

“Pharmaceuticals, Inc. (ICPT) reported 2Q19 financial results noting a strong top- and bottom-line beat, and held an upbeat investor call, pertaining to ongoing clinical development, regulatory and commercial activities for obeticholic acid (OCA) in NASH. Top line, mainly driven by PBC sales, of $65.9M came ahead of our/consensus est. of $58.9M/$59.1M that led to mgmt. guiding to the higher end of their reiterated FY19 guidance of $235-245M. 2Q19 EPS of ($2.28) came below our est., ($2.17) but ahead of Street est. of ($2.63) driven by continued incremental growth in OpEx spend, driven by (1) R&D spend constituting of anticipated regulatory filings in US within 3Q and EU in 4Q as well as expanded patient sample size of Ph.”

According to, Mamtani has currently no stars on a ranking scale of 0-5 stars, with an average return of -14.5% and a 20.3% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.

Currently, the analyst consensus on Intercept Pharma is a Strong Buy with an average price target of $153.22, a 149.1% upside from current levels. In a report issued on August 6, Oppenheimer also reiterated a Buy rating on the stock with a $160 price target.

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Based on Intercept Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $90.27 million. In comparison, last year the company had a GAAP net loss of $75.19 million.

Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ICPT in relation to earlier this year. Most recently, in May 2019, Paolo Fundaro, a Director at ICPT bought 6,749 shares for a total of $102,879.

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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.