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Intercept Pharmaceuticals (ICPT) Sees Pullback from Record Gains

By  +Follow January 14, 2014 12:05PM
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.

Results for icpt
Constantine Greyson
23 Apr 14 15:39:39
Stocks to Buy
23 Apr 14 15:13:33
BioFuel Energy $BIOF is the Top Stock in 2014, Up 412% - http://t.co/fIQdu14cvZ #Stocks $ISR $PLUG $VRS $ICPT $LIVE $PEIX $RDNT $BLDP $PTIE
Dustin Johns
23 Apr 14 15:09:27
$TSLA the gift that keeps on giving! +37k on today's in and out. $ICPT $AAPL $AMBS http://t.co/ZQ0mQLVNnv
23 Apr 14 13:39:25
Mad Money Portfolio Strategy http://t.co/5smcNqr7zx $ICPT up then down, $ALJ just up big, $HAR and $HFC also make decent gains.
Ward Dissan
23 Apr 14 13:32:41
Catalyst Trader
23 Apr 14 12:08:31
Adding some $ICPT here to swing long trade, bouncing off 8 day ema now acting as support
23 Apr 14 12:05:32
$ICPT ready for short squeeze to 300
23 Apr 14 11:35:02
Wednesday's ETF Movers: GDX, XBI http://t.co/RFLSUTyqvm $ASR $DGC $PBYI $ICPT
More Ant
23 Apr 14 11:08:34
@pluggingaway Oops - talking about $ICPT in that tweet. Sorry.
23 Apr 14 09:36:25
Fade of the day .... $ICPT
Kevin McCagg
23 Apr 14 08:38:29
@nobullshytrader I wish I had some $ICPT puts. Remember that day when I asked who was buying at like 490 after it hit 380 in ah...at 265 now
23 Apr 14 08:26:04
bought back this mornings shares of $ICPT at 262.51
Colin Kuberski
23 Apr 14 08:22:37
$ICPT Drug Manufacturers Most Volatile: Intercept Pharmaceuticals (NASDAQ:ICPT ... http://t.co/xJ0z7eMwRl
Derald Muniz
23 Apr 14 08:10:24
$ICPT continues to make new Intraday lows, looks to continue the volatility
23 Apr 14 07:41:39
$ICPT go red/green today? 300 soon...
Seeking Alpha
23 Apr 14 05:49:07
Do The Math: Ram Selvaraju On The Appeal Of Biotechs In Orphan Diseases http://t.co/kHZIOfV7UZ $ACOR $BMRN $CPRX $GALT $GILD $ICPT $PFE
23 Apr 14 05:18:37
trimmed more $ICPT 288 (252 entry)
Peter Rumble
23 Apr 14 04:12:16
$SPPI Pivotal Trial of Captisol-Enabled™ (Propylene Glycol-Free) Melphalan Meets Primary Endpoint http://t.co/QFsvEC6N7B $SPY $ICPT $VRX
Thurman Holm
23 Apr 14 01:12:08
Colin Kuberski
23 Apr 14 01:09:15
$ICPT Nasdaq stocks posting largest percentage increases http://t.co/Z0B3c6qQUR
Colin Kuberski
23 Apr 14 00:57:06
$ICPT Nasdaq stocks posting largest percentage increases http://t.co/tF1z6clmKk
Rob Hager
22 Apr 14 23:38:43
5 #Biotech Stocks Ready To Resume their Rally http://t.co/yOeEyhbZ3W $GILD $ALXN $INCY $ICPT $ABBV
Lekisha Longoria
22 Apr 14 18:12:29
$ICPT Nasdaq stocks posting l http://t.co/PapAscpfKB
REW Capital Advisors
22 Apr 14 18:10:25
REW Q1, after 2 days up 3.15%(no leverage) big winners $ICPT $NFLX $TSLA, biggest loser $CREE #hedgefund @MillenniumHF @CitadelHF
Gagan Rawal
22 Apr 14 16:03:16
Perfect time for $GILD to buy $ICPT. No need to repurchase stocks.@DrPaulyDeSantis @MarkSchoenebaum @VikramKhanna_
22 Apr 14 16:00:54
Smallcap #Stocks Performance $LLEN $APP $ICPT $AGIO $GERN $SRPT $XNPT $GALE $AMBC $CORT $SUNE $OMED more@ http://t.co/jIGfl7ofoU
nypd whistleblower
22 Apr 14 15:24:16
04.22 #nasdaq most % up #pennystocks $IIN $GWPH $RVNC $EVOK $IDRA $ICPT $AGIO $EGLT #trading #stocks check out $IDOI http://t.co/49FO2eqaS9
Colin Kuberski
22 Apr 14 15:06:35
$ICPT The Appeal Of Biotechs In Orphan Diseases [Gilead Sciences, Inc., BioMarin ... http://t.co/GPIEKSikw5
Cecily Humphrey
22 Apr 14 14:57:39
$ICPT Nasdaq stocks posting l http://t.co/5A82UHVL2q
Steph Seguin
22 Apr 14 14:28:19
RT @MaisaCorp: $MAISA Index Fund - double digit gainers today: $CORT $CTIC $ELTP $GALE $GERN $ICPT $IDRA $IMMU $IMNP $ONTY $SRPT $THLD $XNPT
22 Apr 14 14:05:07
Intercept Pharmaceuticals : Tuesday's ETF Movers: XBI, ILF http://t.co/2rK2psKw5h $ICPT $EMBR3
22 Apr 14 13:58:13
$MAISA Index Fund - double digit gainers today: $CORT $CTIC $ELTP $GALE $GERN $ICPT $IDRA $IMMU $IMNP $ONTY $SRPT $THLD $XNPT
Orson Jagger
22 Apr 14 13:21:30
Matt K
22 Apr 14 13:17:13
$GALT, compare with the pps of $ICPT, then consider a far superior drug with fewer side effects, that can reach more people. Do the math!
Rio Kinlan
22 Apr 14 13:11:33
$ICPT Nasdaq stocks posting l http://t.co/7Dd9ffepLf
Livevol Community
22 Apr 14 13:00:03
Gainers: $GWPH+31.30% $XNPT+16.78% $ICPT+16.21% Losers: $MDSO-24.94% $LXK-11.03% $BEBE-9.78% Stock Movers Report: http://t.co/uMXw0atgVI
22 Apr 14 12:58:30
Smallcap #Stocks Performance $XNPT $ICPT $AGIO $GERN $SRPT $RCII $GALE $CTIC $AMBC $PBYI $NKTR $THLD more@ http://t.co/jIGfl7ofoU
Alysa Partin
22 Apr 14 12:44:37
VisualStock Resource
22 Apr 14 11:28:01
$ICPT up 16.4% recently! Choose your Guru and learn how to trade! http://t.co/Cnahqee2QE (Superman or Nathan Michaud) I subscribe!
22 Apr 14 11:22:30
Intercept pharmaceuticals investor and analyst target prices $ICPT http://t.co/x5EzmIJsAI http://t.co/kLXbrIyA7b
22 Apr 14 11:14:40
Livevol Community
22 Apr 14 11:00:03
Gainers: $GWPH+34.27% $XNPT+17.59% $ICPT+16.07% Losers: $MDSO-27.20% $LXK-12.55% $BEBE-8.85% Stock Movers Report: http://t.co/MImGl1YFt4
22 Apr 14 10:57:48
$ICPT - Nasdaq stocks posting largest percentage increases -> http://t.co/4NIJdmsCSY #stock #stocks #stockaction
22 Apr 14 10:52:44
Gainers: $GWPH +39%. $IIN +28%. $IDRA +19%. $GERN +17%. $ICPT +17%. $AGN +16%.
22 Apr 14 10:24:27
RT @Sachakin: Genfit $ALGFT.PA $ALGFT: This french #biotech Pure Player in #NASH is up 10% today (near HOD) but still 39% below 2 months ag…
22 Apr 14 10:20:20
@BioInvestor2013 no kidding.thought there was some news I missed. $ICPT BOOMING thugh up 18% 2day like the liver story and fast track by FDA
22 Apr 14 10:04:33
wowza -- $ICPT -- a $50 move - just like PCLN trades .. damn.. I need my pulse read, nevermind my head
22 Apr 14 09:20:37
$ACAD $AKBA $CYTR $ICPT $KNDI $NUGT $RMBS $TEDU $TRLA autocharts @ http://t.co/kn4mViMgNq
Livevol Community
22 Apr 14 09:00:04
Gainers: $GWPH+34.32% $ICPT+15.51% $AGN+15.23% Losers: $MDSO-28.05% $LXK-11.16% $BEBE-8.23% Stock Movers Report: http://t.co/uMXw0atgVI
22 Apr 14 08:56:01
$ICPT rocketing
By  +Follow January 14, 2014 12:05PM

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