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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
David Fourneau
24 Oct 14 01:26:28
RT @Sachakin: Genfit $GNFT est la plus forte progression 2014 (~ +300%) parmi les 100 plus grosses biotechs mondiales devant.. Intercept $I…
Penny Stock Secret
23 Oct 14 23:34:29
The Hottest Way to Make Millions From Stock Market.Click HERE http://t.co/SVqoMkrw2z .. $ICPT $SCHL $AMSG
Sebastien Remy
23 Oct 14 21:49:05
RT @Sachakin: Genfit $GNFT est la plus forte progression 2014 (~ +300%) parmi les 100 plus grosses biotechs mondiales devant.. Intercept $I…
wininstocks2014
23 Oct 14 14:55:26
ICPT 229.49 Stock Charts $ICPT Intercept Pharmaceuticals Inc. (NASDAQ) Last Updated: 10/23/2014 16:55:25 ICPT http://t.co/i8U5tIMhJ1
Yu Zhu
23 Oct 14 13:11:47
RT @scienceinvestme: RT @svKatface agree $icpt. How many stx U own that has average $pt by analyst with over 100% upside potential?. #fat…
Venator
23 Oct 14 13:03:13
RT @scienceinvestme: RT @svKatface agree $icpt. How many stx U own that has average $pt by analyst with over 100% upside potential?. #fat…
InsiderTradingWire
23 Oct 14 13:02:30
$ICPT | Intercept Pharmac is down 20% since we reported $17,989,207 of insider selling on 08/19/2014. Did you ... - http://t.co/aZUdqvMq2J
12Stocks.com
23 Oct 14 13:01:32
SmallCap #Stocks Trend $SUNE $YELP $NRF $ALGN $AYI $HAIN $CSGP $PTC $ARCP $RAD $USG $ICPT $TRGP $PACW more@ http://t.co/dBUiSJIjp0
12Stocks.com
23 Oct 14 13:01:15
Smallcap #Stocks Performance $SUNE $CSGP $ATHN $MIDD $ICPT $ALGN $PTC $AYI $HAIN $TRGP $ARCP $PACW $NRF more@ http://t.co/dBUiSJIjp0
Venator
23 Oct 14 12:30:24
$ICPT dang, i jinxed it?
Venator
23 Oct 14 12:23:34
$ICPT found support today at 230, aftr a volume buyer (5500 shs) popped it over that, around 10:30. http://t.co/4avgnkR7SE
Jim
23 Oct 14 11:49:10
RT @svKatface agree $icpt. How many stx U own that has average $pt by analyst with over 100% upside potential?. #fattyliverbabyboomers
lololebreton
23 Oct 14 11:41:15
RT @Sachakin: Genfit $GNFT est la plus forte progression 2014 (~ +300%) parmi les 100 plus grosses biotechs mondiales devant.. Intercept $I…
Adrian
23 Oct 14 11:07:31
$ICPT and $AWLCF both look good. long awlcf
Venator
23 Oct 14 10:49:16
Funny, on many stock people buy cuz avePT is,say, $10-20 from currrent price. $ICPT 's ave PT is up **$250 from here! http://t.co/X2qWh2IewN
Aurelien
23 Oct 14 09:57:48
RT @Sachakin: Genfit $GNFT est la plus forte progression 2014 (~ +300%) parmi les 100 plus grosses biotechs mondiales devant.. Intercept $I…
DOGE4321
23 Oct 14 09:27:50
RT @Sachakin: Genfit $GNFT est la plus forte progression 2014 (~ +300%) parmi les 100 plus grosses biotechs mondiales devant.. Intercept $I…
Daniel De Oliveira
23 Oct 14 09:22:59
RT @Sachakin: Genfit $GNFT est la plus forte progression 2014 (~ +300%) parmi les 100 plus grosses biotechs mondiales devant.. Intercept $I…
V.S. Schulz
23 Oct 14 09:19:50
RT @Sachakin: Genfit $GNFT est la plus forte progression 2014 (~ +300%) parmi les 100 plus grosses biotechs mondiales devant.. Intercept $I…
Le chamois
23 Oct 14 09:08:27
RT @Sachakin: Genfit $GNFT est la plus forte progression 2014 (~ +300%) parmi les 100 plus grosses biotechs mondiales devant.. Intercept $I…
Tounet ®
23 Oct 14 09:06:19
RT @Sachakin: Genfit $GNFT est la plus forte progression 2014 (~ +300%) parmi les 100 plus grosses biotechs mondiales devant.. Intercept $I…
Sacha Pouget
23 Oct 14 09:04:13
Genfit $GNFT est la plus forte progression 2014 (~ +300%) parmi les 100 plus grosses biotechs mondiales devant.. Intercept $ICPT (+240%).
Stocks News&Markets
23 Oct 14 09:01:46
lx21 made $15,427 on $ICPT -Check it out! http://t.co/cIuXaVKgd0 Learn #howtotrade http://t.co/axK8SMSgo9 $CLRO $BBW $SCSS $EGHT $SHLM
Eternity101
23 Oct 14 08:44:04
$PBYI $ICPT both up substantially
Venator
23 Oct 14 08:03:25
$ICPT sold shares bot just 4swing over last 2weeks. +$10 I dont advise selling now! but i had 2much $tied up--had to. Still holding plenty
Venator
23 Oct 14 07:44:30
$ICPT It's alive! (shhh.. dont scare it)
WKRB News
23 Oct 14 07:39:57
Intercept Pharmaceuticals Receives Buy Rating from Nomura $ICPT http://t.co/2XtHGEdYzs
InterCooler
23 Oct 14 07:20:26
Intercept Pharmaceuticals’s “Buy” Rating Reaffirmed at Nomura $ICPT http://t.co/0aP0UTAt3I
US Banking News
23 Oct 14 07:15:20
Intercept Pharmaceuticals Earns “Buy” Rating from Nomura $ICPT http://t.co/m4mLNptelq
Jim
23 Oct 14 06:52:56
RT @RatingsNetwork: Intercept Pharmaceuticals's buy rating reiterated at Nomura. http://t.co/alvHcgUxcw $ICPT #ICPT
US Consumer News
23 Oct 14 06:34:09
Intercept Pharmaceuticals's buy rating reiterated at Nomura. http://t.co/FYBQc13E5j $ICPT #ICPT
Analyst Ratings
23 Oct 14 06:34:07
Intercept Pharmaceuticals's buy rating reiterated at Nomura. http://t.co/alvHcgUxcw $ICPT #ICPT
DOGE4321
23 Oct 14 06:33:40
RT @R4inb0w_: #GENFIT "NASH market big enough for multiple players", says Deutsche Bank - 2 major competitors $GNFT & $ICPT http://t.co/YwF…
Carine
23 Oct 14 06:21:16
RT @R4inb0w_: #GENFIT "NASH market big enough for multiple players", says Deutsche Bank - 2 major competitors $GNFT & $ICPT http://t.co/YwF…
SIAnalystWire
23 Oct 14 06:14:27
Right Time to Buy Intercept Pharmaceuticals $ICPT, Nomura Says http://t.co/CRensfk6vM
Peter Bardens
23 Oct 14 06:00:40
$ICPT Intercept Pharmaceuticals Inc. (ICPT) Has Spiked To The Upside http://t.co/i9ukDDZckM
James P Worthy
23 Oct 14 05:33:16
$ICPT Intercept Pharmaceuticals Now Covered by JMP Securities (ICPT) http://t.co/9iIr00nQCE
julien miribel
23 Oct 14 02:18:29
RT @R4inb0w_: #GENFIT "NASH market big enough for multiple players", says Deutsche Bank - 2 major competitors $GNFT & $ICPT http://t.co/YwF…
gil43
23 Oct 14 01:37:45
RT @R4inb0w_: #GENFIT "NASH market big enough for multiple players", says Deutsche Bank - 2 major competitors $GNFT & $ICPT http://t.co/YwF…
R4inb0w
23 Oct 14 01:28:32
#GENFIT "NASH market big enough for multiple players", says Deutsche Bank - 2 major competitors $GNFT & $ICPT http://t.co/YwFGjw1HEY $500?
Daily Contracts
22 Oct 14 12:59:36
Real-Time feed of company contracts, original agreements and executive updates from Intercept Pharmaceuticals $ICPT http://t.co/K84XvqdhHA
Jim
22 Oct 14 12:26:36
RT @SmarterAnalyst: $ICPT Deutsche Bank Reiterates Buy On Intercept Pharmaceuticals, $500 PT http://t.co/Ps5nuKrJt8
Smarter Analyst
22 Oct 14 12:09:03
$ICPT Deutsche Bank Reiterates Buy On Intercept Pharmaceuticals, $500 PT http://t.co/Ps5nuKrJt8
Venator
22 Oct 14 11:29:12
Has my ticker parade has been stuck for past hour...? lol $TSLA $NFLX $ACHN $ICPT $FB
US Banking News
22 Oct 14 06:13:41
Intercept Pharmaceuticals Gets Average Rating of Buy from Analysts $ICPT http://t.co/8Llmm0LASC
CapCube 2.0
21 Oct 14 12:10:23
Stocks in the red today: $CMG $OCN $ICPT $CLF $ANR $GDP $PBR to name a few .... $CMG is sweetness ....
Cornholio
21 Oct 14 11:41:25
@OptionsHawk someone is going to take $ACHN & $ICPT out eventually
Tom Wrigley
21 Oct 14 10:04:56
Some nLod in Healthcare / Biotech related stocks $ICPT $WBMD $CLVS $CBST $MDAS $UTHR $ATHN
Venator
21 Oct 14 09:32:04
$ICPT Picked up some at 227.5, may sell in combo with 223s of last week. Or, may hold along with others.
Peter Rumble
21 Oct 14 03:01:54
$ICPT is strong buy with bullish reversal last week, all targets 500$, very undervalued $SPY $IBB $GILD $ISRG
				
				
By  +Follow January 10, 2014 6:50AM
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