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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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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Results for icpt
BioBreakout
24 May 15 16:36:47
RT @23aloha: Biotech Tweets of the Week: http://t.co/QzFcP3ZvcT $ENDP $BLUE $EBIO $ACHN $ICPT $KITE $SRPT $PBMD $OTIC $ATMN $ONTY via @BioD…
Sheff
24 May 15 16:19:12
RT @23aloha: Biotech Tweets of the Week: http://t.co/QzFcP3ZvcT $ENDP $BLUE $EBIO $ACHN $ICPT $KITE $SRPT $PBMD $OTIC $ATMN $ONTY via @BioD…
Chris
24 May 15 14:21:21
RT @nlaurent191: $icpt #Intercept still in trouble with its class action https://t.co/kpB20lnD2g
zebrazoma
24 May 15 14:20:45
RT @PatAubagne13: Not for $ICPT but perhaps for $GNFTF $GNFT!! http://t.co/ScKBkqRTtD https://t.co/vS5p4ic0sL
Chris
24 May 15 14:09:48
RT @Tootix: 1600/2500 patients under placebo or 10mg #OCA dose.. Just 800+ patients under 25mg for the P3 with potential CV issues... Ouch.…
Chris
24 May 15 13:55:58
RT @PatAubagne13: Not for $ICPT but perhaps for $GNFTF $GNFT!! http://t.co/ScKBkqRTtD https://t.co/vS5p4ic0sL
TooTiX
24 May 15 09:23:39
1600/2500 patients under placebo or 10mg #OCA dose.. Just 800+ patients under 25mg for the P3 with potential CV issues... Ouch. $ICPT $GNFT
Kristina Duering
24 May 15 08:31:15
RT @R4inb0w_: $ICPT Lipid abnormalities... "the court found that the allegations in the complaint were sufficient" http://t.co/D63QB7XI39
Leslie J Williams
24 May 15 03:26:23
RT @BentheFidler: East Coast #Biotech Roundup: Bluebird, Sarepta, Synlogic & More http://t.co/eGO1aa4ABe $BLUE $SRPT $BMRN $EBIO $ICPT $GNC…
Zonebourse News
23 May 15 22:47:13
#INTERCEPT PHARMACEUTICALS INC : NASH Phase 3 Clinical Trial Update Call http://t.co/Y4YX7oNQUz $ICPT
InvestWithConf
23 May 15 20:24:04
$ICPT is rated BUY, 58.8% upside by Wall Street analysts based on average ratings/targets http://t.co/JJdID1331x http://t.co/Y1FZ98c3sS
Chris
23 May 15 14:09:39
RT @zebrazoma2004: #Genfit : L'avis de Portzamparc sur la phase III d'Intercept - Trading Sat http://t.co/PJXg8Hheaw via @TradingSat $gnf…
What_A_Face_
23 May 15 11:34:23
RT @23aloha: Biotech Tweets of the Week: http://t.co/QzFcP3ZvcT $ENDP $BLUE $EBIO $ACHN $ICPT $KITE $SRPT $PBMD $OTIC $ATMN $ONTY via @BioD…
Breaking News
23 May 15 11:14:12
$ICPT: Intercept Pharmaceuticals Inc (ICPT) Insider Selling : Nicole ...: http://t.co/t5wenIjIwA
Brandon Hayward
23 May 15 11:00:02
RT @23aloha: Biotech Tweets of the Week: http://t.co/QzFcP3ZvcT $ENDP $BLUE $EBIO $ACHN $ICPT $KITE $SRPT $PBMD $OTIC $ATMN $ONTY via @BioD…
Brad Loncar
23 May 15 10:43:18
RT @23aloha: Biotech Tweets of the Week: http://t.co/QzFcP3ZvcT $ENDP $BLUE $EBIO $ACHN $ICPT $KITE $SRPT $PBMD $OTIC $ATMN $ONTY via @BioD…
BioRunUp
23 May 15 08:40:06
RT @BioStocks: What You May Have Missed in #Biotech: Eye Drug Fails, Ear Drug Flops and Herpes Drug Succeeds http://t.co/3cZmQgHRbL $SRPT $…
Bio Stocks™
23 May 15 07:57:21
What You May Have Missed in #Biotech: Eye Drug Fails, Ear Drug Flops and Herpes Drug Succeeds http://t.co/3cZmQgHRbL $SRPT $BLUE $ICPT $GNCA
23aloha
23 May 15 06:56:33
Biotech Tweets of the Week: http://t.co/QzFcP3ZvcT $ENDP $BLUE $EBIO $ACHN $ICPT $KITE $SRPT $PBMD $OTIC $ATMN $ONTY via @BioDueDiligence
Djudge
23 May 15 04:42:35
RT @R4inb0w_: $ICPT Lipid abnormalities... "the court found that the allegations in the complaint were sufficient" http://t.co/D63QB7XI39
Invest | Donate
23 May 15 03:05:58
@IHPosts: HOV Hovnanian Enterprises, Inc. Stock Message Board http://t.co/L26ElqBfBx $HOV $BAA $CRM $ICPT #HOV #stocks #invest
danrocks
23 May 15 02:41:35
ICPT Intercept Pharmaceuticals, Inc. Last Trade http://t.co/a8ohp5Nt5D $ICPT $VPOR $NOAH $SJ.TO #ICPT #finance #pennystocks
Investors Hangout
23 May 15 02:41:06
HOV Hovnanian Enterprises, Inc. Stock Message Board http://t.co/B2GTmKCoCl $HOV $BAA $CRM $ICPT #HOV #stocks #invest
Kristina Duering
23 May 15 00:52:40
RT @GeryDIVRY: $ICPT $GNFT any coherent explanation on that ? http://t.co/0FAKXrf29Z
Breaking News Now
23 May 15 00:28:02
$GILD $ICPT: Will This Drug Beat Gilead to Market in NASH?: http://t.co/HmXflKeaPA
Invest | Donate
23 May 15 00:11:40
@clayton_dd: XLE Energy Select Sector SPDR Open http://t.co/poMBBQVrk6 $XLE $ICPT $HLF $XLV #XLE #share #invest
TooTiX
22 May 15 23:49:43
RT @insider_filings: $ICPT: WILLIAMS NICOLE sold a net $243,618 in INTERCEPT PHARMACEUTICALS INC. http://t.co/j2rTwAWalY
clayton
22 May 15 23:48:35
XLE Energy Select Sector SPDR Open http://t.co/IbGssCMMkL $XLE $ICPT $HLF $XLV #XLE #share #invest
Stock Forums
22 May 15 23:41:08
LQDT Liquidity Services Inc. Dividend http://t.co/vbPDqu4heb $LQDT $BB.TO $ICPT $ALXN #LQDT #finance #nasdaq
IH NASDAQ OMX
22 May 15 23:40:09
ICPT Intercept Pharmaceuticals, Inc. Yield http://t.co/9NYQnDnmLd $ICPT $GDX $DANG $CBON #ICPT #investing #investing
nasdaqfan
22 May 15 23:39:37
IBB Biotech iShares Exchange http://t.co/9m0oc5zYpQ $IBB $BTG $BABA $ICPT #IBB #tradeideas #tradeideas
IH NASDAQ OMX
22 May 15 23:35:10
CORI Corium International, Inc. Shares http://t.co/vPJMJcImEG $CORI $SSO $XLV $ICPT #CORI #stockmarket #finance
True about ...
22 May 15 23:33:54
RT @insider_filings: $ICPT: WILLIAMS NICOLE sold a net $243,618 in INTERCEPT PHARMACEUTICALS INC. http://t.co/j2rTwAWalY
DennyT
22 May 15 23:32:04
ASHR db X-Trackers Harvest CSI 300 China A-Shares Fund Exchange http://t.co/ctB33H1ZER $ASHR $ICPT $C $QID #ASHR #investing #nasdaq
Okim59
22 May 15 21:40:04
RT @insider_filings: $ICPT: WILLIAMS NICOLE sold a net $243,618 in INTERCEPT PHARMACEUTICALS INC. http://t.co/j2rTwAWalY
CashRocket
22 May 15 20:09:07
RT @BioBreakout: RT @BioDueDiligence Biotech Tweets of the Week http://t.co/EjUbaoIaQV $BLUE $EBIO $ACHN $ICPT $KITE $SRPT $PBYI $OTIC $ONT…
Eternity101
22 May 15 20:07:02
$ICPT based on FRI May 22 close 261.46 Breakout = 290.84 R2 = 273.59 R1 = 267.52 Pivot = 261.93 S1 = 255.86 S2 = 250.27 Breakdown = 232.54
Finance Magnates
22 May 15 20:03:07
Why did shares of Intercept Pharmaceuticals Inc slide 10%? $ICPT http://t.co/sbOucrMNOw
BioBreakout
22 May 15 20:02:42
RT @BioDueDiligence Biotech Tweets of the Week http://t.co/EjUbaoIaQV $BLUE $EBIO $ACHN $ICPT $KITE $SRPT $PBYI $OTIC $ONTY etc c/o @23aloha
biotechtwt
22 May 15 19:54:07
RT @jamesdeyonker: $BLUE $ICPT $OCAT pursuing the same Reg strategy.Already Pivotal in EU (w/ AMTP) and seeking SPA and BT in US.Coordinati…
ProVesting
22 May 15 18:50:03
$ICPT: What after Nicole Williams's Insider Sale of Intercept ...: http://t.co/D1R5jKbmnn
ProTradersNews
22 May 15 18:16:02
$ICPT: Insider Selling at Intercept Pharmaceuticals Inc (ICPT) : Nicole ...: http://t.co/iPZ0t24TmF
Insider Filings
22 May 15 18:03:27
$ICPT: WILLIAMS NICOLE sold a net $243,618 in INTERCEPT PHARMACEUTICALS INC. http://t.co/j2rTwAWalY
ProVesting
22 May 15 18:03:12
$ICPT: New Insider Transaction on ICPT by Director: http://t.co/tEEEYUPgTV
Insider Alerts
22 May 15 18:03:06
NEW insider transaction on $ICPT reported a moment ago: http://t.co/YxserRVTxA
Biotech Beat
22 May 15 17:54:12
RT @LifeSciVC: ICYMI: From The Trenches- @KapellerRosana covers NASH race $ICPT $GNFT Nimbus' ACC & others http://t.co/JAoyH7TMgP http://…
Bleecker
22 May 15 15:46:19
#InsiderTrading @adamfeuerstein $ICPT insiders sells did not occurred just before news. News occurred after sales. See difference?!
Varun kumar
22 May 15 15:20:19
RT @LifeSciVC: ICYMI: From The Trenches- @KapellerRosana covers NASH race $ICPT $GNFT Nimbus' ACC & others http://t.co/JAoyH7TMgP http://…
ethan
22 May 15 15:11:44
RT @R4inb0w_: $ICPT Lipid abnormalities... "the court found that the allegations in the complaint were sufficient" http://t.co/D63QB7XI39
Subramania Kaushik
22 May 15 15:05:53
RT @R4inb0w_: $ICPT Lipid abnormalities... "the court found that the allegations in the complaint were sufficient" http://t.co/D63QB7XI39
				
				
By  +Follow January 10, 2014 6:50AM
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