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Intercept Pharmaceuticals (ICPT) Continues to Soar

By  +Follow January 10, 2014 6:50AM
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Shares in biopharmaceutical company Intercept Pharmaceuticals (ICPT) spiked over 70 percent Friday before pulling pack to gains of around 60 percent, one day after shares soared more than 280 percent. Thursday brought news that the company’s lead drug candidate obeticholic acid (OCA) had proven so effective in treating patients with nonalcoholic steatohepatitis (better known as fatty liver disease) that Intercept’s FLINT trial was halted early because it had already met its primary efficacy endpoint.

Friday’s new spike appears to have been driven by a raft of new analysts upgrades, many of which involved increasing price targets by more than $200 a share. This new surge in buying saw volume well over ten times the previous daily average and exceeding 25 percent of the stock’s total float.

All told, Intercept is up over 550 percent in the last two days alone, boosting the 45-person company’s market cap by about $7.5 billion in 48 hours.

Analysts Show the Love

Among those analysts who made dramatic increase in their price targets for Intercept were Citigroup, which went from $60 to $400, Oppenheimer, which went from $94 to $360, and Needham, who went from $55 to $320.

Merrill Lynch, though, took the cake, boosting their target from $81 to $872.

Driving this newfound optimism for Intercept’s future is the size of the market involved. Fatty liver disease is an increasingly common problem that currently lacks a strong treatment, so the first firms to present a commercially available drug stand to profit considerably.

Citigroup’s Jonathan Eckard and Yaron Werber explained their massive upgrade:

“It is estimated ~10-15 percent of the US population has some level of early stages of NASH (inflammation and fibrosis of the liver) and ~6 million (in the US alone) of these have a more advanced form of NASH preceding liver cirrhosis. NASH is becoming recognized as a leading cause of liver transplants in the western world. There are no approved drugs for treatment, and OCA is the first agent to show a benefit here and is now positioned to establish itself as the standard of care. Also liver fibrosis has long been a target for large pharma/biotech and the scarcity of other drugs makes [Intercept Pharmaceuticals] an attractive acquisition target…

“We are buyers of [Intercept Pharmaceuticals], and see value left on the table despite yesterday’s ~300 percent gain on positive NASH…data for lead agent obeticholic acid (OCA). In our view [Intercept Pharmaceuticals'] ~$5.4 billion market cap doesn’t reflect the multi-billion dollar NASH opportunity. A “back of the envelope” valuation applying a common biotech of 4x sales multiple projects <$1.5 billion in OCA sales. We believe this meaningfully underestimates the drug’s potential that we expect could top >$5 billion/yr.”

GALT, CNAT Lifted With Rising Tide

The huge two-day run for Intercept has also boosted the fortunes for other companies working on similar treatments for liver disease.

Galectin Therapeutics (GALT) has seen shares nearly double in value over the last two days, and Conatus Pharmaceuticals (CNAT) has shot up over 130 percent over the same time period.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for icpt
Jonathan Celestri
31 Jan 15 03:29:13
$gnft target raisonnable à MT ??? 400€??? $ICPT était montée à >450$ en annonçant une phase 2b et est actuellement à 200$…
Sandra Nelsonа
31 Jan 15 01:31:33
BTD is a stress reliever RT Globalmess65: adamfeuerstein $ICPT is this big news?
Hung Tran, MS, MD
31 Jan 15 00:52:30
Saw Intercept featured story of the school teacher Mrs. Ally, who needed $ICPT lifesaving med #OCA, melt my heart https://t.co/nAJAXpnXNb
Hung Tran, MS, MD
31 Jan 15 00:50:04
The thesis here on $ICPT and #OCA will substantiate much sooner than what WS is expecting https://t.co/nAJAXpnXNb
Hung Tran, MS, MD
31 Jan 15 00:46:44
This is why it's worthwhile to be hungry, pushing 100 hours weekly to help patients is worthwhile https://t.co/dZE5Y2BLeU $ICPT #NASH
Hung Tran, MS, MD
31 Jan 15 00:44:26
The ingenious & diligence of the FDA experts to designate OCA as a Breakthrough RX, will save countless lives http://t.co/OnOFUXB9rp $ICPT
PolgarStocks
30 Jan 15 23:59:12
$EWG Filings Updated Saturday, January 31, 2015 02:07:43 AM $MO $XLU $SOXL $ICPT http://t.co/3pchOPsSZo
biotech 2050
30 Jan 15 23:15:52
RT @Billy_Jacob: Cowen analyst, Ritu Baral, on Fast Money. Recommends $ICPT, $ACAD (billion-plus addressable market, clear unmet need, stro…
Rosner Stocks
30 Jan 15 23:00:08
$RYE Filings Updated Saturday, January 31, 2015 00:59:26 AM $NFLX $ICPT $HD $NBG http://t.co/SNEPuVK30H
Rosner Stocks
30 Jan 15 23:00:04
$RAX News Updated Saturday, January 31, 2015 00:59:26 AM $V $NBG $ICPT $TQQQ http://t.co/yZrMVaxrqE
Clark Joseph Kent
30 Jan 15 22:58:04
% Gainers $BAMM $CTP $IMGN $QTNT $PFMT $ICPT $NES $GIMO $COHR $AMZN $SYNA $MAN $CNCO $TROV $MTX $HLIT $CACC $CPLP http://t.co/UKbiAsgsVK
Russell Barbour
30 Jan 15 22:14:55
***REVIEW***: Super Alerts on http://t.co/Jp8C6WoOpd stock picking service: http://t.co/CZJcFT4UtO $CBI $MA $V $ICPT $DECK $GOOG $EGO
MAISA
30 Jan 15 21:43:30
$ICPT_$201.03_Shares of $ICPT soared more than 20 percent Friday following a favorable FDA ruling on Thursday
Michael
30 Jan 15 21:37:04
RT @megtirrell: $ICPT up 27% on breakthrough designation for OCA
Don Gulfo
30 Jan 15 21:30:19
RT @CNBCFastMoney: Intercept absolutely a buy: Pro http://t.co/j4HKjmBMZ2 #biotech $ICPT
JMS
30 Jan 15 21:22:29
$ICPT Nice chart http://t.co/zfa6MY8E74
Rosner Stocks
30 Jan 15 20:58:41
$XLE Stock Price Updated Friday, January 30, 2015 10:59:25 PM $ICPT $EWZ $TIP $HAL http://t.co/SS3dj9fKrI
khalidjaber
30 Jan 15 20:02:28
RT @skaladwani1: “@s_s_o0: $GOOGL $GOOG $FB $YHOO #النفط #تداول #اوبشن #options فقط توصية $ICPT من ٩٠ سنت الى ١٢$ اليوم بفضل الله http:…
IH News Desk
30 Jan 15 19:58:20
$ICPT Opinions Updated Friday, January 30, 2015 10:11:50 PM $GLD $NKE $UA $GDXJ http://t.co/hVqtxaSsLZ
khalidjaber
30 Jan 15 19:57:45
RT @s_s_o0: $ICPT $GOOGL $AMZN #اوبشن #options #الداو_جونز اللهم لك الحمد على توفيقك لو لم يكن لقروبنا الا هذه التوصيه لكفت http://t.co/1…
PolgarStocks
30 Jan 15 19:55:37
$RGDO Stock Forum Updated Friday, January 30, 2015 10:07:42 PM $CSII $ICPT $SVXY $XLP http://t.co/BDe5fdPiGA
®مستشارك المالي®
30 Jan 15 19:48:19
RT @skaladwani1: “@s_s_o0: $GOOGL $GOOG $FB $YHOO #النفط #تداول #اوبشن #options فقط توصية $ICPT من ٩٠ سنت الى ١٢$ اليوم بفضل الله http:…
JMS
30 Jan 15 19:24:48
RT @AndyBiotech: $ICPT - Baird's Brian Skorney explains why this OCA Breakthrough Designation is more meaningful vs. other BTDs. http://t.c…
IH News Desk
30 Jan 15 18:56:38
$VLO News Updated Friday, January 30, 2015 9:11:48 PM $ICPT $IYR $GLD $ABBV http://t.co/cDlEK3VRUe
Rosner Stocks
30 Jan 15 18:56:35
$UNG Company Info Updated Friday, January 30, 2015 8:59:25 PM $XLY $ICPT $QTMM $TVIX http://t.co/Xm0kj8DmYP
onefinetrader
30 Jan 15 18:28:30
RT @CNBCFastMoney: Intercept absolutely a buy: Pro http://t.co/j4HKjmBMZ2 #biotech $ICPT
bioILLOGICAL
30 Jan 15 17:56:31
U alcoholics out there-buy $ICPT “@SmarterAnalyst: $ICPT Intercept’s Value Is Likely To Turn Around, Says Wedbush http://t.co/H5evIRXYL1”
OTPicks.com
30 Jan 15 17:39:00
http://t.co/NYsxQOU64w jim50: ICPT Gapped up +24.77 $ICPT Last Price 201.03 Day: jim50 http://t.co/q6StSt0uXn http://t.co/NYsxQOU64w
clayton
30 Jan 15 17:29:09
ICPT 201.03 Intercept Pharmaceuticals Inc $ICPT added to my watch list. Right now with ICPT I am watching the http://t.co/IfKBpXw5IF
clayton
30 Jan 15 17:28:47
$ICPT ICPT 201.03 Intercept Pharmaceuticals Inc $ICPT stock added to my watch list. Right now with ICPT I am watchin http://t.co/4ANJI5Olbh
iHangout
30 Jan 15 17:04:08
jim50: ALERTS, HOT STOCKS & CHARTS: ICPT Gapped up +24.77 $ICPT Last Price 201.03 Day http://t.co/40tS6EqnKO
iHangout
30 Jan 15 17:04:06
jim50: $ICPT Intercept Pharmaceuticals Inc: ICPT Stock Gapped up +24.77 $ICPT Last Price http://t.co/D7bHTsRnZf
jim50
30 Jan 15 17:00:12
ICPT Gapped up +24.77 $ICPT Last Price 201.03 Day High 210.00 Day Low 196.67 Change +30.34 Volume 2,380,751 To http://t.co/d1zasZd4xG
jim50
30 Jan 15 16:59:50
$ICPT ICPT Stock Gapped up +24.77 $ICPT Last Price 201.03 Day High 210.00 Day Low 196.67 Change +30.34 Volume 2,380, http://t.co/ceOiXIpAba
Dan
30 Jan 15 16:33:26
$ICPT Max Pain is 162.50 for maturity 01/30/2015. Price = 201.03. http://t.co/xiI3oDcsDI
mr option
30 Jan 15 16:31:06
RT @s_s_o0: $GOOGL $GOOG $FB $YHOO #النفط #تداول #اوبشن #options فقط توصية $ICPT من ٩٠ سنت الى ١٢$ اليوم بفضل الله http://t.co/IM126SbW…
DSK
30 Jan 15 16:25:03
RT @livetradepro: Setups I liked today that we'll be watching Monday. $UVXY $SALE $AAPL $UWTI $USO $OIL $CALA $ICPT $OPK $GOOGL More http…
Biotech Beat
30 Jan 15 16:18:10
RT @JohnCFierce: $ICPT nabs a 'breakthrough' title for its blockbuster NASH contender -- shares soar 27%. http://t.co/qhFq2emXrP
Amit Gupta
30 Jan 15 16:08:49
@dcamtrades $RPTP CNBC Ritu Baral mention as breakthrough name along with $ACAD $ICPT
Clin. Sound Investor
30 Jan 15 16:08:05
Commented on: "The 2015 Calendar Of NASH Trial Catalysts: Intercept's Breakthrough... http://t.co/2PbW7XFWOD $ICPT $RPTP $GILD
12Stocks.com
30 Jan 15 16:03:32
Smallcap #Stocks Performance $SONS $IMGN $PFMT $ICPT $NES $GIMO $SYNA $EDMC $CACC $MTX $VTG $MILL $BCEI more@ http://t.co/GiravokQod
اللهم لك الحمد
30 Jan 15 15:58:54
RT @s_s_o0: $GOOGL $GOOG $FB $YHOO #النفط #تداول #اوبشن #options فقط توصية $ICPT من ٩٠ سنت الى ١٢$ اليوم بفضل الله http://t.co/IM126SbW…
Les
30 Jan 15 15:51:22
$ICPT still right under the wedge but get ready for a big breakout. Grats to all holding @vips1000 @dj3par http://t.co/oOyiobDRyT
Ani Anirudhan
30 Jan 15 15:49:58
$ICPT black candle above cloud http://t.co/mwaQG4AJow
Ibrahim
30 Jan 15 15:43:43
RT @stanleydandrea: $ICPT, $ACAD, $RPTP CNBC video http://t.co/HOxfAf2PUK
Cutlass
30 Jan 15 15:38:11
RT @ProfitTradeRoom: Also alerted buy $CTP from $5.25-$5.89! Other stocks we played today $ONCE $SHAK $BA $ICPT $COMM $CL $SCO #stocks #day…
S Manian
30 Jan 15 15:28:58
RT @stanleydandrea: $ICPT, $ACAD, $RPTP CNBC video http://t.co/HOxfAf2PUK
saleh
30 Jan 15 15:24:18
“@s_s_o0: $GOOGL $GOOG $FB $YHOO #النفط #تداول #اوبشن #options فقط توصية $ICPT من ٩٠ سنت الى ١٢$ اليوم بفضل الله http://t.co/jb156Hrbo2”
Ani Anirudhan
30 Jan 15 15:10:49
RT @CNBCFastMoney: Intercept absolutely a buy: Pro http://t.co/j4HKjmBMZ2 #biotech $ICPT
Swing Trade Alert
30 Jan 15 15:08:05
CNBC:Intercept absolutely a buy: Pro http://t.co/dEtGGJvHDx #biotech $ICPT
				
				
By  +Follow January 10, 2014 6:50AM
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