logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Intercept Pharmaceuticals (ICPT) Sees Pullback from Record Gains

By  +Follow January 14, 2014 12:05PM
Share:
Tickers Mentioned:

Intercept Pharmaceuticals (ICPT) continued its wild, roller-coaster ride on Tuesday, with a second-straight day of major losses. Intercept made news last week after its treatment for fatty liver disease, obeticholic acid (OCA), had a Phase II clinical trial halted early because of its efficacy. Shares spiked, then jumped again on the second day after the stock received a raft of massive upgrades from major analysts.

However, this week appears to have seen Intercept return to earth. Shares dropped nearly 20 percent on Monday, and Tuesday saw losses in excess of 30 percent, making the two-day loss nearly 45 percent of its share value. That still has Intercept sporting a five-day gain approaching 450 percent, so investors are hardly sweating recent losses, but it does have the stock returning from the rarified air it reached by the close of markets on Friday.

ICPT Sheds Value on CEO Comments

The plummet for Intercept could be attributed to comments from CEO Mark Pruzanski that his company will most likely need to partner with a larger company to bring OCA to market; a deal that would most likely eat into any potential profits.

“[Intercept’s plan] is very much to build a commercial capability,” the he said in a phone interview with Bloomberg. “But large pharmaceutical companies are very good at this kind of thing. And the overarching responsibility here is to do what we can in a responsible way to get” OCA to patients if it’s approved.

“If that can be done in a more expedited fashion with a partner, that’s something we should consider,” he continued.

However, while these comments from Monday are clearly a factor, profit-taking by traders satisfied with last week’s massive gains and anticipating a market pull-back is probably a contributing factor as well as share-volume continued at very high levels.

Concerns Over Cholesterol Levels in OCA Patients Also a Factor

The revelation that the study showed rising cholesterol levels for the patients taking OCA as compared to those on a placebo could also be weighing on Intercept’s stock. The details of the study were included in a Sunday press release from Intercept.

"OCA is an FXR agonist and we have known for a long time that it is involved in many aspects of lipid metabolism," said Pruzanski in the release. "An important part of the rationale for advancing our drug in NASH is that by activating FXR in the liver, we believe that it reduces the excess lipid load which is a causal factor in the disease. In addition, there is preclinical evidence that by activating FXR systemically, OCA is able to shunt excess lipids away from collecting in arteries and other organs which could also be beneficial. It is in any case clear that the lipid changes seen in OCA-treated patients are part of a complex set of mechanisms and we are already conducting further studies to gain a more complete understanding of the clinical implications."

The timing of the release and the major decline in shares would seem to indicate that the cholesterol concerns may also be part of the picture this week.

“[While the cholesterol] link is not new news, we believe many investors are seeing it now for the first time,” wrote Oppenheimer & Co. analyst Akiva Felt in a note to clients.

While the Phase II trial showed promising results, some still noted that OCA is still far from approval even if it appears nearly certain to reach that end point.

“What we have is a proof of concept study,” said Nezam Afdhal, head of hepatology at Beth Israel Deaconess Medical Center in Boston. “‘How that becomes a registration trial and an approvable drug is a million-dollar question.’’

ICPT Continues to Move Price for Galectin, Others

The explosion of Intercept’s stock, as well as that of other pharma companies developing similar therapies, indicates that the potential for a successful treatment for fatty liver disease, which is estimated to affect 5 percent of the population, took the markets by surprise to some degree.

And, once again, the markets appeared to treat companies with potential treatments for fatty liver disease as a monolith to some degree, with Intercept's declines appearing to trigger similar declines among its competitors in the fatty liver disease sphere.

Shares in Galectin Therapeutics (GALT) plunged over 12 percent Tuesday to make its two-day losses over 20 percent, while Conatus Pharmaceuticals (CNAT) lost almost 2.75 percent Tuesday for two-day losses just under 20 percent.

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.


Signup for our daily newsletter and get our best articles emailed right to you!

Results for icpt
ohmsonite
31 Jan 15 22:14:57
Not sure where I saw this but have it in my notes: widely discussed milestones $ICPT, $MEIP, $ACAD, $BIIB, $CELG http://t.co/q7Xj1kvRcY
Jake King
31 Jan 15 21:47:23
RT @PropThinker: These Biotech IPO’s Just. Don’t. Stop.- http://t.co/i6UI0cgHo3 PT's weekly recap. $ONCE $ICPT $CNAT $AAVL $QURE $BAX
ProTradersNews
31 Jan 15 21:33:07
$ICPT: Pro: Intercept absolutely a buy – CNBC: http://t.co/OvpYHz1t3S
Russell Barbour
31 Jan 15 20:45:51
***REVIEW***: Super Alerts on http://t.co/Jp8C6WoOpd stock picking service: http://t.co/CZJcFT4UtO $CBI $MA $V $ICPT $DECK $GOOG $EGO
TalkMarkets Recap
31 Jan 15 19:33:59
3 #Biotechs Looking Good Earnings Season $ARIA $BCRX $PCYC $GILD $ABBV $ESRX $SHPG $NPSP $AGEN $INCY $AZN $ICPT ... http://t.co/LZlqjngfVh
PHARMD
31 Jan 15 18:05:38
RT @DrSManian: “@bradloncar: Ritu Baral likes $RPTP thinks pediatric NASH data release in May @ #DDW15. http://t.co/kwkYmFltoF” $ICPT & $…
Hung Tran, MS, MD
31 Jan 15 17:28:04
Likewise, you can search for $ICPT and most of my work will show up https://t.co/E5fJbOMOBe
S Manian
31 Jan 15 17:13:10
“@bradloncar: Ritu Baral likes $RPTP thinks pediatric NASH data release in May @ #DDW15. http://t.co/kwkYmFltoF” $ICPT & $RPTP huge upside
Langan Stocks
31 Jan 15 15:56:06
$COP Reviews Updated Saturday, January 31, 2015 6:03:27 PM $ICPT $AGG $EWJ $ELTP http://t.co/WWdFZqd1pA
Elvio Prefumo
31 Jan 15 15:18:16
RT @robwilliamsNY: Intercept Pharmaceuticals up 32% to $224.49 in extended trading on FDA designation of liver treatment $ICPT http://t.co/…
IH News Desk
31 Jan 15 15:15:06
$JBLU Recent News Updated Saturday, January 31, 2015 5:11:40 PM $DGAZ $ICPT $VXX $XLE http://t.co/wixYSdvR3W
Declan Fallon
31 Jan 15 14:57:53
19 breakouts: $ABAX (gap), $AMZN (gap), $GIMO (gap), $HLIT (gap), $ICPT (gap), $MAN (base), $SYNA (base & gap & 200-day MA).
IH News Desk
31 Jan 15 14:14:34
$ICPT Last Price Updated Saturday, January 31, 2015 4:11:44 PM $XLP $FEYE $KR $AMAT http://t.co/cgCiaBqONy
TalkMarkets
31 Jan 15 12:56:21
3 #Biotechs Looking Good Earnings Season $ARIA $BCRX $PCYC $GILD $ABBV $ESRX $SHPG $NPSP $AGEN $INCY $AZN $ICPT ... http://t.co/rszDDTgvb5
Langan Stocks
31 Jan 15 12:53:13
$BLTA Percent Change Updated Saturday, January 31, 2015 3:03:29 PM $SH $ICPT $XLF $BLTA http://t.co/IujhRy6LvX
Russell Barbour
31 Jan 15 11:06:19
http://t.co/8zZ54HvLlJ <-- *REVIEW* TIMFundamentals Part Deux $ICPT $SLV $ABX $GDXJ $JNUG $SWKS
tekcoRhsaC
31 Jan 15 11:03:24
RT @PropThinker: These Biotech IPO’s Just. Don’t. Stop.- http://t.co/i6UI0cgHo3 PT's weekly recap. $ONCE $ICPT $CNAT $AAVL $QURE $BAX
Stocks News&Markets
31 Jan 15 11:01:55
lx21 made $22,553 on $ICPT -Check it out! http://t.co/5qMfUIW08L Learn #howtotrade http://t.co/axK8SMSgo9 $EXE $WATT $IMRS $CACH $GMO
Stephen s
31 Jan 15 10:53:04
RT @IHNewsDesk: $ICPT Financials Updated Saturday, January 31, 2015 12:11:43 PM $ELTP $VGK $MYEC $TSM http://t.co/FSCoabIZlr
TV_Trading Ideas
31 Jan 15 10:40:08
jumped out of the wedge $ICPT http://t.co/eCu4HHe5B6
sam
31 Jan 15 10:17:22
RT @JSears68: Bios pattern set by $PCYC .spike & meander a bit .but make up move from there -now 4 $BIIB & $ICPT to make 2nd moves nxt wk @…
The Sears
31 Jan 15 10:12:28
Bios pattern set by $PCYC .spike & meander a bit .but make up move from there -now 4 $BIIB & $ICPT to make 2nd moves nxt wk @smartertrader
IH News Desk
31 Jan 15 10:11:13
$ICPT Financials Updated Saturday, January 31, 2015 12:11:43 PM $ELTP $VGK $MYEC $TSM http://t.co/FSCoabIZlr
PolgarStocks
31 Jan 15 10:11:09
$DUST Reviews Updated Saturday, January 31, 2015 12:07:36 PM $MUX $CSII $ICPT $FXY http://t.co/IEfyRt6FFU
Options Trading US
31 Jan 15 10:00:27
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…
Langan Stocks
31 Jan 15 09:51:05
$ACT Stock Message Board Updated Saturday, January 31, 2015 12:03:28 PM $FXA $XLU $MINE $ICPT http://t.co/sYG1unvwEP
Ani Anirudhan
31 Jan 15 09:28:22
RT @AndyBiotech: $ICPT - Baird's Brian Skorney explains why this OCA Breakthrough Designation is more meaningful vs. other BTDs. http://t.c…
Maleah
31 Jan 15 09:21:06
[Case Study] How A 24 yr old student Made >$0.5 Million In 8 Months With Stocks http://t.co/Hce0Z2DnDs $ILMN $MET $ICPT $VLCCF #stocks
IH News Desk
31 Jan 15 09:11:07
$XLU Stock Message Board Updated Saturday, January 31, 2015 11:11:55 AM $CMG $GDX $ICPT $FXE http://t.co/4q2B5pjZxV
Langan Stocks
31 Jan 15 07:49:33
$WMT Investor Opinions Updated Saturday, January 31, 2015 10:03:47 AM $ICPT $GPRO $XLK $GLD http://t.co/izSrVSCLpd
Patrick
31 Jan 15 07:41:49
RT @theflynews: On The Fly: Midday Wrap $AMZN $GOOG $GOOGL $SHAK $ICPT $ADES $DECK: Full Story http://t.co/lm4HboFyFw
IH News Desk
31 Jan 15 07:07:39
$JNJ Reviews Updated Saturday, January 31, 2015 09:11:50 AM $ABT $BIB $IVV $ICPT http://t.co/jz92XsUEgJ
PolgarStocks
31 Jan 15 07:07:10
$MUX Filings Updated Saturday, January 31, 2015 09:07:42 AM $MINE $ICPT $SSO $CSCO http://t.co/8c9QRjf3YR
PolgarStocks
31 Jan 15 07:07:04
$SLTD Stock Price Updated Saturday, January 31, 2015 09:07:42 AM $IWC $RGDO $ABT $ICPT http://t.co/phtJ8qBP9m
IH News Desk
31 Jan 15 06:07:15
$FSLR Short Sales Updated Saturday, January 31, 2015 08:11:48 AM $INVN $MO $NBG $ICPT http://t.co/tP6zpLlRVP
Rosner Stocks
31 Jan 15 06:05:16
Stocks Trending Now: http://t.co/0kBSoPZVDp $ICPT $BCKIY $TSGL $ADST $MDSO $NOBGF $CBMDF $LOCK $GRYN $NBPVF $BVLDF $CW ~
Zack
31 Jan 15 05:33:13
RT @PropThinker: These Biotech IPO’s Just. Don’t. Stop.- http://t.co/i6UI0cgHo3 PT's weekly recap. $ONCE $ICPT $CNAT $AAVL $QURE $BAX
KSS, MD, PhD
31 Jan 15 05:23:37
@BusinessBiotech @portefeuillefun $ICPT proves you can fool most of the people all of the time. Rock on, GFT505.
Rosner Stocks
31 Jan 15 05:07:36
$TNA Filings Updated Saturday, January 31, 2015 07:59:27 AM $TLT $ICPT $XLB $TBT http://t.co/O7XZpvwlF0
Michael Torres, PhD
31 Jan 15 05:05:06
RT @PropThinker: These Biotech IPO’s Just. Don’t. Stop.- http://t.co/i6UI0cgHo3 PT's weekly recap. $ONCE $ICPT $CNAT $AAVL $QURE $BAX
PropThinker
31 Jan 15 05:03:30
These Biotech IPO’s Just. Don’t. Stop.- http://t.co/i6UI0cgHo3 PT's weekly recap. $ONCE $ICPT $CNAT $AAVL $QURE $BAX
Langan Stocks
31 Jan 15 04:46:36
$XLE Percent Change Updated Saturday, January 31, 2015 07:03:35 AM $ACT $FSLR $ICPT $GRCU http://t.co/LntcBER8WA
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…
				
				
By  +Follow January 14, 2014 12:05PM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.