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Intercept Pharmaceuticals (ICPT) Continues to Soar

By  +Follow January 10, 2014 6:50AM
Tickers Mentioned:

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.

Results for icpt
17 Apr 14 17:50:39
@gagan_rawal @MKerryFuller $icpt $tts $nq very nice three stocks to own for the LT, despite your Stevie likes buying and flipping.
Gagan Rawal
17 Apr 14 16:24:19
@MKerryFuller Right SAC liquidated $icpt, $tts $nq, to name a few.
17 Apr 14 15:01:37
$ICPT: INTERCEPT PHARMACEUTICALS INC Files SEC form 8-K, Change in Directors ... http://t.co/GTzK9UpVRc
Stock Herald
17 Apr 14 14:55:35
$ICPT: INTERCEPT PHARMACEUTICALS INC Files SEC form 8-K, Change in Directors ... http://t.co/Wl0AZZe4Nq
17 Apr 14 14:42:34
$ICPT - INTERCEPT PHARMACEUTICALS INC Files SEC form 8-K, Change in Directors ... -> http://t.co/OpJUKK4cID #stock #stocks #stockaction
17 Apr 14 13:49:39
$ICPT - Current Report Filing (8-k) http://t.co/Nfi4IsrwK2
17 Apr 14 13:35:09
INTERCEPT PHARMACEUTICALS : Change in Directors or Principal Officers (form 8-K) http://t.co/p7BGOFNfEs $ICPT
17 Apr 14 13:19:51
$ICPT --- Bears losing steam? Spinning top.
17 Apr 14 12:51:01
$GNFT $ICPT @genfit_pharma
17 Apr 14 12:39:20
$ICPT - 239.90 EOD guess
Legend Boulstridge
17 Apr 14 12:33:46
$ICPT Positive Results on Inter http://t.co/qf4i93tj0b
The Amazing Seven
17 Apr 14 11:29:26
$ICPT Positive Results on Inter http://t.co/pAz37F1MbB
17 Apr 14 10:32:34
$DANG $DUST $ICPT $ITMN $LIVE $P $PEIX $SINA $TWTR autocharts @ http://t.co/kn4mViMgNq
17 Apr 14 09:45:34
$DDD $DUST $ICPT $KNDI $LIVE $MHR $NQ $SINA $WNR autocharts @ http://t.co/kn4mViMgNq
Frederick Martin
17 Apr 14 09:32:55
RT @johnwelshtrades: $CNAT will also be effected by $ICPT binary update in July.
More Ant
17 Apr 14 08:00:39
RT @Catalystrader: $ICPT, I don't think this beast can be kept in the cage much longer, looking for sharp reversal bounce to $300+ soon eno…
Catalyst Trader
17 Apr 14 07:54:48
$ICPT, I don't think this beast can be kept in the cage much longer, looking for sharp reversal bounce to $300+ soon enough.
Derald Muniz
17 Apr 14 07:52:08
$ICPT chart updated, continues to hold this Horz Supp line. remain S in 50/50 Basket w/ Bear Collar http://t.co/X5lRfXdNoo
Elite Day Trader
17 Apr 14 07:40:29
$ICPT Bull Market Gainer http://t.co/igqHlBYc0Z
John Welsh
17 Apr 14 07:36:30
$CNAT will also be effected by $ICPT binary update in July.
17 Apr 14 07:30:35
$ICPT has room here to run 264-271 range.
17 Apr 14 07:22:06
Line in the sand, in my opinion, is 260. $icpt Not saying we are going there. That’s when this thing stops looking like it’s dying.
Anthony Nguyen
17 Apr 14 06:51:20
loving the volatility crush today in earnings plays on $GOOGL and $CMG all working out. $FB, $ICPT and $UVXY also holding up well enough.
Kermit Bailey
17 Apr 14 06:03:20
$ICPT Positive Results on Inter http://t.co/RV368trNKz
Louie O'Malley
17 Apr 14 05:50:28
$ICPT Positive Results on Inter http://t.co/hl3WL46JWm
Pacific High Trading
17 Apr 14 05:48:27
PHT Day Trade Set Up 4/17/2014 – $CSTM $FNSR $ICPT $LKQ $ROSE $WWW $Z http://t.co/5uSrI9AzwQ
Colin Kuberski
17 Apr 14 03:45:09
$ICPT Nasdaq stocks posting largest percentage decreases http://t.co/2WuowJ8sbc
Clinton Majors
17 Apr 14 02:18:54
$ICPT Positive Results on Inter http://t.co/iSwz6EHuOA
16 Apr 14 19:39:05
$ICPT - under 200 ? $ISRG - under 400 ? $GOOGL - under 500 ? $AAPL - under 500 ? THURSDAY's watch http://t.co/qU1Bx4nHik
Research Chief
16 Apr 14 18:31:19
$ICPT Positive Results on Intercept P http://t.co/5ffVcN4xbi
Scott Thomas
16 Apr 14 15:31:21
RT @stockstobuy: Plug Power $PLUG is one of the Top Stock in 2014, Up 357% - http://t.co/fIQdu14cvZ #Stocks $ISR $VRS $BIOF $ICPT $LIVE $PE…
Dimitri Anderson
16 Apr 14 14:57:03
$ICPT Positive Results on I http://t.co/Hh7qBMoe2x
Tim Weidman
16 Apr 14 14:20:32
RT @stockstobuy: Plug Power $PLUG is one of the Top Stock in 2014, Up 357% - http://t.co/fIQdu14cvZ #Stocks $ISR $VRS $BIOF $ICPT $LIVE $PE…
16 Apr 14 14:20:10
RT @stockstobuy: Plug Power $PLUG is one of the Top Stock in 2014, Up 357% - http://t.co/fIQdu14cvZ #Stocks $ISR $VRS $BIOF $ICPT $LIVE $PE…
16 Apr 14 14:20:04
.@stockstobuy If you can handle the volatility then go for it. $ISR may fall victim to biotech bubble. $BIOF is not bad. $ICPT is tough.
Stocks to Buy
16 Apr 14 14:17:07
Plug Power $PLUG is one of the Top Stock in 2014, Up 357% - http://t.co/fIQdu14cvZ #Stocks $ISR $VRS $BIOF $ICPT $LIVE $PEIX $RDNT $BLDP
16 Apr 14 13:41:37
Mad Money Strategy http://t.co/kCaqFdAoyd Another painful week, portfolio in the red $ICPT down big, late into $RAD, strength in $ALJ $MPC
Derald Muniz
16 Apr 14 13:35:50
Commented on StockTwits: I understand, an important week for everyone to position & adjust to future strikes. $ICPT http://t.co/F6LqFpwx0Z
16 Apr 14 13:34:03
Commented on StockTwits: Generally agree with you, but option expiration throws a giant wrinkle in. $ICPT http://t.co/vmE4qkptGD
Gagan Rawal
16 Apr 14 13:29:01
@MookTrader good job. Time to pick $icpt
16 Apr 14 13:07:06
$ICPT - where are we pinning this stock? 230,240,250,260?
Amy Alvarez
16 Apr 14 12:57:11
$ICPT Positive Results on I http://t.co/G93ZB1kLfy
16 Apr 14 12:44:02
$ICPT W close over the 21ema could lead to a quick move to 340-350. Wishful thinking.
Jon Vince
16 Apr 14 12:11:06
So many former #MoMos rebounding the past day, but $FEYE (& $ICPT) not among them (tho #icpt did have 21% rip ystrday, giving back now)
Jon Vince
16 Apr 14 11:41:13
"@OpenOutcrier: $NQ falling off - this thing can move" It could be, along w $PLUG & $ICPT, #DayTraders fave stock, ytd
Derald Muniz
16 Apr 14 11:33:59
the Hammer in $ICPT yesterday was NOT confirmed today, looks like more down
16 Apr 14 10:55:32
$ICPT Positive Results on Intercept P http://t.co/4SQmppeDeY
Gold Stock News
16 Apr 14 10:26:51
$ICPT Positive Results on Inter http://t.co/9XdZEAmtrn
16 Apr 14 10:19:50
$TSLA nice short here IMO. Momo's just can't hold such crazy-high multiples in this current sell-off. $ICPT $TWTR
Marius Jackson
16 Apr 14 09:56:58
$ICPT Positive Results on Inter http://t.co/QixDNgA5dE
By  +Follow January 10, 2014 6:50AM



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