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Intercept Pharmaceuticals (ICPT) Sees Pullback from Record Gains

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


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Results for icpt
Brad Loncar
1 Sep 14 20:53:39
@LoveSpringChick It would be more like IPF b/c NASH is a more recent phenomenon. In terms of stocks, sure $BLUE could rock like $ITNM $ICPT.
Eternity101
1 Sep 14 20:15:32
...but MY DREAM was SUR.R E A L & am sticking 2 my guns. something BIIIIG going 2 happen to THAT stock -- more than $PBYI & $ICPT did ..also
EUGENIO SOCORRO
1 Sep 14 19:48:50
Watch List: $ICPT $ARWR $NG $CCIH $DHRM
Eternity101
1 Sep 14 18:39:42
had an AWESOME dream this a.m.. NEVER in my whole life did I EVER dream about a stock. apparently I had it & it did a $PBYI $ICPT like move
Scott Spencer
1 Sep 14 16:53:09
$ICPT $GILD $ACHN $MRK $PBYI $RCPT $CELG $TEVA biotech buyout rumors intensifying... http://t.co/ErRFq9ELcz
16
1 Sep 14 16:28:19
RT @Keithwinwins: 4 #Biotech That Might Be Bought Soon http://t.co/TaEKP2uZRu #IBDNews via @IBDinvestors $ACHN $ICPT $GILD $PBYI $RCPT
Ryan York
1 Sep 14 16:26:47
RT @IBDinvestors: Intercept Pharma has no product, but its valuation has topped more than $6 billion. Why? http://t.co/Er4NemOeCB $ICPT $GI…
Financial Headlines
1 Sep 14 16:25:31
$ICPT: Roses in the Market... http://t.co/aUty04LQR2 http://t.co/E2Zz7gw78D
16
1 Sep 14 16:13:21
RT @NyOptions: Meet 4 biotech stocks that might be bought soon http://t.co/Z56GKyclxo $ACHN $GILD $PBYI $ICPT
Rex J. Weinheimer
1 Sep 14 16:10:43
RT @IBDinvestors: Intercept Pharma has no product, but its valuation has topped more than $6 billion. Why? http://t.co/Er4NemOeCB $ICPT $GI…
Ani Anirudhan
1 Sep 14 16:08:49
RT @IBDinvestors: Intercept Pharma has no product, but its valuation has topped more than $6 billion. Why? http://t.co/Er4NemOeCB $ICPT $GI…
Evener Investment
1 Sep 14 16:05:17
RT @IBDinvestors: Intercept Pharma has no product, but its valuation has topped more than $6 billion. Why? http://t.co/Er4NemOeCB $ICPT $GI…
John Michael
1 Sep 14 16:02:01
RT @IBDinvestors: Intercept Pharma has no product, but its valuation has topped more than $6 billion. Why? http://t.co/Er4NemOeCB $ICPT $GI…
Investors.com
1 Sep 14 16:00:58
Intercept Pharma has no product, but its valuation has topped more than $6 billion. Why? http://t.co/Er4NemOeCB $ICPT $GILD $ACHN
Keith Win
1 Sep 14 15:26:36
4 #Biotech That Might Be Bought Soon http://t.co/TaEKP2uZRu #IBDNews via @IBDinvestors $ACHN $ICPT $GILD $PBYI $RCPT
lottiee1012
1 Sep 14 14:41:21
RT @InsiderWire: David Shapiro, CMO and EVP - Development of Intercept Pharmac Sells $2,852,619 Worth of $ICPT - #Form4 ... - http://t.co/5…
Daytradeya
1 Sep 14 14:12:02
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Krishna
1 Sep 14 11:11:32
RT @CashRocket: Fun to watch: Day Trading for $13,436 in one hour - Meir Barak http://t.co/7xPVso2bg7 via @youtube $ICPT
jatinam
1 Sep 14 10:41:13
RT @IBDinvestors: Meet 4 biotech stocks that might be bought soon http://t.co/RU7UekN50f $ACHN $GILD $PBYI $ICPT
Rick  dan
1 Sep 14 09:45:33
Bio Tech stocks are pure Bubble will fall back 60% watch out $PBYI $ICPT $ALNY $MDVN $BCRX $PTCT $ACAD $BIIB $KERX $TKMR $ALXN $ACHN $REGN
CashRocket
1 Sep 14 09:27:12
Fun to watch: Day Trading for $13,436 in one hour - Meir Barak http://t.co/7xPVso2bg7 via @youtube $ICPT
Joe Attrux
1 Sep 14 07:58:33
RT @SeekingAlpha: Insider Buys And Sells: Southern Copper, L Brands http://t.co/EiHpq3pxF0 $SCCO $REXX $PHII $OPK $CBR $LB $ICPT $APAM $WNR…
Okim59
1 Sep 14 06:21:53
RT @InsiderWire: David Shapiro, CMO and EVP - Development of Intercept Pharmac Sells $2,852,619 Worth of $ICPT - #Form4 ... - http://t.co/5…
Sleek Money
1 Sep 14 05:52:57
Intercept Pharmaceuticals CMO Unloads $2,939,300 in Stock $ICPT http://t.co/ggzMe4RQ8i
Business News Now
1 Sep 14 05:25:27
$ICPT: Intercept Pharmaceuticals (ICPT) Worth Watching: Stock Gains 16.6% http://t.co/KIwyemXu4G http://t.co/vXkXOhtFBW
Don Fishback
1 Sep 14 04:50:27
1 Month Decrease in ATM IV (Point change) $ARWR, $ICPT, $GRPN, $EXPE, $UBNT http://t.co/WnqNSrZdwk
OptionApps
1 Sep 14 04:50:27
1 Month Decrease in ATM IV (Point change) $ARWR, $ICPT, $GRPN, $EXPE, $UBNT http://t.co/PwMGnoPTOY
Auto Binary option
1 Sep 14 04:33:48
RT @SeekingAlpha: Insider Buys And Sells: Southern Copper, L Brands http://t.co/EiHpq3pxF0 $SCCO $REXX $PHII $OPK $CBR $LB $ICPT $APAM $WNR…
Evener Investment
1 Sep 14 04:29:17
RT @SeekingAlpha: Insider Buys And Sells: Southern Copper, L Brands http://t.co/EiHpq3pxF0 $SCCO $REXX $PHII $OPK $CBR $LB $ICPT $APAM $WNR…
awolam
1 Sep 14 04:28:48
RT @SeekingAlpha: Insider Buys And Sells: Southern Copper, L Brands http://t.co/EiHpq3pxF0 $SCCO $REXX $PHII $OPK $CBR $LB $ICPT $APAM $WNR…
Seeking Alpha
1 Sep 14 04:28:46
Insider Buys And Sells: Southern Copper, L Brands http://t.co/EiHpq3pxF0 $SCCO $REXX $PHII $OPK $CBR $LB $ICPT $APAM $WNR $CSII
InsiderTradingWire
1 Sep 14 04:00:30
David Shapiro, CMO and EVP - Development of Intercept Pharmac Sells $2,852,619 Worth of $ICPT - #Form4 ... - http://t.co/5HuJLcBSV5
TalkMarkets
1 Sep 14 03:33:33
#InsiderWeekends – August 29, 2014 $SCCO $REXX $PHI $OPK $CBR $LB $ICPT $APAM.PA $WNR $CSII http://t.co/J5GQls9weu
mike ring
1 Sep 14 02:22:24
RT @IBDinvestors: Meet 4 biotech stocks that might be bought soon http://t.co/RU7UekN50f $ACHN $GILD $PBYI $ICPT
Stock Signaling
1 Sep 14 01:01:06
Insider Buys: $PSEC $CBR $FCN $ADVS $GWR $VSAT $HRL $CNMD $OPK $HGR $AN $SPDC $UBSI $GILD $ICPT http://t.co/Vtx6dLy0Nw #dow #analytics #spy
Market News Desk
1 Sep 14 00:25:26
$ICPT: Orbimed Advisors Further Cuts Exposure To Intercept Pharmaceuticals Inc. (ICPT) http://t.co/AAzMKAUkTq http://t.co/rZo6jDMNec
Stock Signaling
1 Sep 14 00:01:05
Watchlist: $ITMN $AVGO $IVZ $JPM $IG $JCP $TRP $SCHW $ICPT $BMO $ACHN $BPZ $ENZ $ESS $ARUN http://t.co/Vtx6dLy0Nw #analyst #stockpicks #mkt
TickerChirp
31 Aug 14 23:26:06
Trending Tweets Relevant to $ICPT (INTERCEPT PHARMA INC symbol ICPT) on 09/01/2014 http://t.co/JhPihYXMmh
Stock Signaling
31 Aug 14 22:31:02
Healthcare Sector: Upgrades: $ACHN $IPXL $ENZ $ICPT $LBMH http://t.co/Vtx6dLy0Nw #wallstreet #watchlist #investing #trader #investors #dow
Mike
31 Aug 14 21:42:31
RT @IBDinvestors: Meet 4 biotech stocks that might be bought soon http://t.co/RU7UekN50f $ACHN $GILD $PBYI $ICPT
scott richey
31 Aug 14 19:24:16
RT @IBDinvestors: Meet 4 biotech stocks that might be bought soon http://t.co/RU7UekN50f $ACHN $GILD $PBYI $ICPT
option.trader
31 Aug 14 18:53:05
Meet 4 biotech stocks that might be bought soon http://t.co/Z56GKyclxo $ACHN $GILD $PBYI $ICPT
Jahi Faucette
31 Aug 14 17:51:41
RT @IBDinvestors: Meet 4 biotech stocks that might be bought soon http://t.co/RU7UekN50f $ACHN $GILD $PBYI $ICPT
Swing Trade Alerts
31 Aug 14 17:44:40
IBD:Meet 4 biotech stocks that might be bought soon http://t.co/4J0PSlkT4W $ACHN $GILD $PBYI $ICPT
Bulls vs Bears
31 Aug 14 17:25:25
$ICPT: Intercept Pharmaceuticals Posts Earnings, Pipeline in Focus http://t.co/bYhK26pHaL http://t.co/FVWGU5s0Ft
Investors.com
31 Aug 14 17:20:03
Meet 4 biotech stocks that might be bought soon http://t.co/RU7UekN50f $ACHN $GILD $PBYI $ICPT
TKOSTOCK$
31 Aug 14 08:50:36
Insiders Sells $LUV $ICPT $P $DDD $DATA $CCII $EPZM $ALTR $BKD. http://t.co/KdnDXeN2pd via @247WallSt
NathanAaron
30 Aug 14 18:21:02
$icpt $isis insider selling
NSharma
30 Aug 14 15:38:51
$ICPT Could be wrong but think no way this gets bought. Way overvalued. Wrong comparisons being made. Misleading analyses.
Abhishek Shetty
30 Aug 14 08:31:35
$ICPT LOOKING EXCELLENT ON THE CHARTS..GOOD CONSOLIDATION SEEN AROUND $290-300 LEVELS..COULD SEE TGTS OF 340-360 IN THE NEXT 2-3 WEEKS..
				
				
By  +Follow January 14, 2014 12:05PM
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