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.


Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for icpt
Catalyst Trader
29 Aug 14 14:27:44
@given2tweet On Schwab $ICPT is not marginable. Also insane. Only good thing is keeps investor base more stable
GerardMontane
29 Aug 14 13:26:52
RT @BioInvestor2013: $oxgn a stock under $3 That Should Be Trading over $15.00 !! http://t.co/VQb5dqmQiv $ICPT $PBYI $IDIX $QCOR …
Biz Headlines
29 Aug 14 13:25:34
$ICPT: Biotech Bounce Gets More Fuel From InterMune Deal http://t.co/ZfeHivxCZO http://t.co/nBkoBW8oRu
BioInvestor
29 Aug 14 12:57:42
$oxgn a stock under $3 That Should Be Trading over $15.00 !! http://t.co/VQb5dqmQiv $ICPT $PBYI $IDIX $QCOR $ACAD $atrs $bmrn
Wall Street Monitor
29 Aug 14 12:25:31
$ICPT: Intercept to Present at Upcoming Investor Conferences http://t.co/xgigCkRNyv http://t.co/ihADcHMhY9
InterCooler
29 Aug 14 12:21:19
Intercept Pharmaceuticals Director Orbimed Advisors Llc Sells 111,258 Shares $ICPT http://t.co/Lddbn2GIsC
Market Headlines
29 Aug 14 11:25:33
$ICPT: Intercept Pharmaceuticals: Curb Your Enthusiasm? http://t.co/T0GoKvBzxk http://t.co/1jd5Seyq8q
DR.THOMPSON
29 Aug 14 11:21:05
@dsobek @sharkbiotech @olddoggnewtrix so is $ICPT silly low or silly high ;)
Stock Signaling
29 Aug 14 09:31:03
Visual Stock Comparison Tool: http://t.co/Vtx6dLy0Nw : $SPLK $SLCA $AEO $AEGR $YGE $ARO $ECOM $ICPT $ARWR $ITMN $FOLD $TSLA $QIHU $X $JRJC
Amy Reeves
29 Aug 14 09:02:43
Something to debate over the weekend: which biotech will be bought next? http://t.co/Lsrpceh0Ln $ACHN $ICPT $PBYI $RCPT $ITMN $GILD
Lucretia
29 Aug 14 09:00:38
$ICPT Intercept Pharmaceuticals, Inc. Finally Releases FLINT Trial Data http://t.co/pvr9hpNhTK
stockassassin
29 Aug 14 07:46:16
nice bio day for my port $MDVN $AMGN $REGN $ICPT $NPSP $ARWR $ECYT $BLUE $KITE $BMRN
Stock Market News
29 Aug 14 07:25:34
$ICPT: [video] Stock Pops & Drops: ICPT, TSL, NUAN, RAX http://t.co/iCTP5ryA2A http://t.co/x5kb19yXZS
CumbucoTrader
29 Aug 14 06:38:43
currently long $TSLA $ARWR, short $AEO, watching $ICPT
TalkMarkets
29 Aug 14 06:38:01
Morning Call $BIG $CWST $MBT $SSYS $STRI $ICPT $BKW $OVTI $AVGO $FRED http://t.co/2VKkNa6rNf
Stock Signaling
29 Aug 14 06:31:21
Upgraded Stocks Active in Pre-Market: $TSLA $GOLD $ACHN $ITMN $ICPT $ARUN $QUNR $TFM $AINV $ANAC $FB $GRPN $CSIQ $AMAT $SQNM #spy #trading
Robin Murray MD CFII
29 Aug 14 05:43:41
EXCELLENT #profit this month on our #Biotech picks $BIB #ULTRA #ETF $ITMN $ICPT $AGN $CELG continue to trim&trail. http://t.co/tJtk0LBsqN
Irma Doucet
29 Aug 14 05:31:13
$ICPT Intercept Pharmaceuticals, Inc. Finally Releases FLINT Trial Data http://t.co/riCq2qRPW4
Don Fishback
29 Aug 14 04:50:04
1 Month Decrease in ATM IV (Point change) $ICPT, $WTW, $GRPN, $ZU, $UBNT http://t.co/YrumYcK17U
OptionApps
29 Aug 14 04:50:04
1 Month Decrease in ATM IV (Point change) $ICPT, $WTW, $GRPN, $ZU, $UBNT http://t.co/sISuJVlOpu
Financial Headlines
28 Aug 14 23:25:31
$ICPT: Intercept to Present at Upcoming Investor Conferences http://t.co/QwB4cyd8Tz http://t.co/Wcq0Glrf8Z
Lrry Keho
28 Aug 14 23:08:43
" We Are in a Period of Enlightenment http://t.co/UoF80DfdRk via @The_Real_Fly $GILD $ACHN $ICPT $HCLP $PLUG""
Stock Signaling
28 Aug 14 22:31:13
Healthcare Sector: Upgrades: $LCI $OCLS $THC $ITMN $ELGX $ICPT $ENZ $IPXL $ACHN $HNSN $ZFGN $UTHR $POZN $ILMN $ENZN http://t.co/Vtx6dLy0Nw
howardlindzon
28 Aug 14 17:11:50
RT @StockTwits: GREAT read--> We Are in a Period of Enlightenment http://t.co/ZiAzUsnFvk via @The_Real_Fly $GILD $ACHN $ICPT $HCLP $PLUG
Stock Signaling
28 Aug 14 15:31:31
Upgraded Stocks Active After Hours: $DSW $LCI $JPM $PGR $AFSI $BMO $ARUN $ICPT $ACHN $MBI $SPLK $ARE $SFM $TFM $QUNR http://t.co/Vtx6dLy0Nw
Scott Thomas
28 Aug 14 15:28:30
Now I see news $ICPT HF cuts position . Orbimed .
FilingsAnalysis
28 Aug 14 15:25:04
$ICPT, 13D filed by Orbimed Advisors LLC http://t.co/1dOmjQENa3
Tim
28 Aug 14 15:23:10
RT @stockstobuy: BioFuel Energy $BIOF is the Top Stock in 2014, Up 620% - http://t.co/2J9lDWjrzq #Stocks $VRS $ISR $PEIX $UBIC $ICPT $RDNT …
Stocks to Buy
28 Aug 14 15:19:42
BioFuel Energy $BIOF is the Top Stock in 2014, Up 620% - http://t.co/2J9lDWjrzq #Stocks $VRS $ISR $PEIX $UBIC $ICPT $RDNT $PLUG $ACHN
Forex Spain
28 Aug 14 15:08:23
RT @StockTwits: GREAT read--> We Are in a Period of Enlightenment http://t.co/ZiAzUsnFvk via @The_Real_Fly $GILD $ACHN $ICPT $HCLP $PLUG
EscueladeTrading
28 Aug 14 15:04:42
RT @StockTwits: GREAT read--> We Are in a Period of Enlightenment http://t.co/ZiAzUsnFvk via @The_Real_Fly $GILD $ACHN $ICPT $HCLP $PLUG
Alberto Fernández
28 Aug 14 15:04:36
RT @StockTwits: GREAT read--> We Are in a Period of Enlightenment http://t.co/ZiAzUsnFvk via @The_Real_Fly $GILD $ACHN $ICPT $HCLP $PLUG
YouAreTrader
28 Aug 14 15:03:43
RT @StockTwits: GREAT read--> We Are in a Period of Enlightenment http://t.co/ZiAzUsnFvk via @The_Real_Fly $GILD $ACHN $ICPT $HCLP $PLUG
Market Profile
28 Aug 14 15:01:58
RT @StockTwits: GREAT read--> We Are in a Period of Enlightenment http://t.co/ZiAzUsnFvk via @The_Real_Fly $GILD $ACHN $ICPT $HCLP $PLUG
Catalyst Trader
28 Aug 14 14:57:25
RT @whalewisdom: New SC 13D/A from ORBIMED ADVISORS LLC concerning $ICPT. See details at http://t.co/yxxJGlKF7h
Business Headlines
28 Aug 14 14:25:30
$ICPT: Roses in the Market... http://t.co/bybpVWSVUs http://t.co/H75iJkuNyX
StockNews
28 Aug 14 13:55:23
$ICPT - Amended Statement of Beneficial Ownership (sc 13d/a) http://t.co/H12pjTHAc8
whalewisdom
28 Aug 14 13:55:10
New SC 13D/A from ORBIMED ADVISORS LLC concerning $ICPT. See details at http://t.co/yxxJGlKF7h
InsiderTradingWire
28 Aug 14 13:55:08
13D Alert for INTERCEPT PHARMACEUTICALS INC - $ICPT - #13D #insidertrading - http://t.co/S2gMDnOXXX
StockTwits
28 Aug 14 13:40:09
GREAT read--> We Are in a Period of Enlightenment http://t.co/ZiAzUsnFvk via @The_Real_Fly $GILD $ACHN $ICPT $HCLP $PLUG
Antonio Costa
28 Aug 14 12:56:57
$ICPT new intraday low ... watch $PBYI and $MDVN
Sleek Money
28 Aug 14 11:26:15
Intercept Pharmaceuticals Director Unloads $33,161,559 in Stock $ICPT http://t.co/9DxqxyvjYW
WKRB News
28 Aug 14 11:23:41
Insider Selling: Intercept Pharmaceuticals Director Unloads 50,000 Shares of Stock $ICPT http://t.co/p0P3PpBXjp
Business Headlines
28 Aug 14 10:25:32
$ICPT: 3 Biotechs Surging Following InterMune Takeover http://t.co/Zjhz94CI3X http://t.co/1IUhgHfQpq
Wall Street Monitor
28 Aug 14 09:25:44
$ICPT: Biotech Bounce Gets More Fuel From InterMune Deal http://t.co/0RRVM9jpwZ http://t.co/HaxAGKkHvX
Alan Sparks
28 Aug 14 09:00:30
all the insider sells on $ICPT hardly bodes well for a buy out any time soon
US_proptrader
28 Aug 14 08:56:29
$ICPT going for $300
MOHAMMAD ALZAHRANI
28 Aug 14 08:53:35
@bo3bo32 $ICPT 100%
JMK
28 Aug 14 07:01:15
$ICPT glad i sold sep 5 260 call when we were over 302 the other day. Up next: sep 20 255.That one doesn't get sold before sep conferences
Stock Signaling
28 Aug 14 06:31:28
Upgraded Stocks Active in Pre-Market: $GOLD $ACHN $ITMN $ICPT $ARUN $QUNR $TFM $AINV $ANAC $FB $GRPN $CSIQ $AMAT $SQNM $CREE #spy #mkt #dow
				
				
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.