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

By Ryan Adsit

In a report released yesterday, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on Intercept Pharma (ICPTResearch Report). The company’s shares closed yesterday at $117.34.

Mamtani commented:

“Sciences, Inc. announced negative results from their Ph. III STELLAR-4 study in cirrhotic NASH. While already deemed as a high-risk trial, as also highlighted by our NASH KOL panel last week, we expect this to have a positive read-through to ICPT since it somewhat removes an overhang of GILD’s selonsertib emerging as a more potent anti-fibrotic drug than ICPT’s obeticholic acid.”

According to TipRanks.com, Mamtani is a 3-star analyst with an average return of 3.8% and a 53.8% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.

Intercept Pharma has an analyst consensus of Strong Buy, with a price target consensus of $157.82, representing a 34.5% upside. In a report issued on January 31, Credit Suisse also initiated coverage with a Buy rating on the stock with a $167 price target.

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Based on Intercept Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $64.45 million. In comparison, last year the company had a GAAP net loss of $111 million.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock.

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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.