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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.

Results for icpt
Okim59
17 Apr 14 22:48:59
RT @AmericanBanking: Intercept Pharmaceuticals Short Interest Down 36.0% in March $ICPT http://t.co/7xKPQPRgaG
TradersTopNews
17 Apr 14 22:46:33
$ICPT Intercept Pharmaceuticals Short Interest Down 36.0% in March (ICPT) http://t.co/VGT7ue1Goa
Ticker Report
17 Apr 14 22:25:43
Intercept Pharmaceuticals Short Interest Down 36.0% in March $ICPT http://t.co/deEwCMhAxP
US Banking News
17 Apr 14 22:23:47
Intercept Pharmaceuticals Short Interest Down 36.0% in March $ICPT http://t.co/7xKPQPRgaG
TradersTopNews
17 Apr 14 20:17:06
$ICPT Insider Selling: Intercept Pharmaceuticals CEO Sells 10000 Shares of Stock (ICPT) http://t.co/SMf7Jjf19g
US Banking News
17 Apr 14 19:37:40
Insider Selling: Intercept Pharmaceuticals CEO Sells 10,000 Shares of Stock $ICPT http://t.co/EDA2XEWLIK
Yvrbear
17 Apr 14 17:50:39
@gagan_rawal @MKerryFuller $icpt $tts $nq very nice three stocks to own for the LT, despite your Stevie likes buying and flipping.
Gagan Rawal
17 Apr 14 16:24:19
@MKerryFuller Right SAC liquidated $icpt, $tts $nq, to name a few.
GavinGreenberg
17 Apr 14 15:01:37
$ICPT: INTERCEPT PHARMACEUTICALS INC Files SEC form 8-K, Change in Directors ... http://t.co/GTzK9UpVRc
Stock Herald
17 Apr 14 14:55:35
$ICPT: INTERCEPT PHARMACEUTICALS INC Files SEC form 8-K, Change in Directors ... http://t.co/Wl0AZZe4Nq
LoveStockNews
17 Apr 14 14:42:34
$ICPT - INTERCEPT PHARMACEUTICALS INC Files SEC form 8-K, Change in Directors ... -> http://t.co/OpJUKK4cID #stock #stocks #stockaction
StockNews
17 Apr 14 13:49:39
$ICPT - Current Report Filing (8-k) http://t.co/Nfi4IsrwK2
4-traders.com
17 Apr 14 13:35:09
INTERCEPT PHARMACEUTICALS : Change in Directors or Principal Officers (form 8-K) http://t.co/p7BGOFNfEs $ICPT
Ethan
17 Apr 14 13:19:51
$ICPT --- Bears losing steam? Spinning top.
Carine
17 Apr 14 12:51:01
$GNFT $ICPT @genfit_pharma
Ethan
17 Apr 14 12:39:20
$ICPT - 239.90 EOD guess
Legend Boulstridge
17 Apr 14 12:33:46
$ICPT Positive Results on Inter http://t.co/qf4i93tj0b
The Amazing Seven
17 Apr 14 11:29:26
$ICPT Positive Results on Inter http://t.co/pAz37F1MbB
US_proptrader
17 Apr 14 10:32:34
$DANG $DUST $ICPT $ITMN $LIVE $P $PEIX $SINA $TWTR autocharts @ http://t.co/kn4mViMgNq
US_proptrader
17 Apr 14 09:45:34
$DDD $DUST $ICPT $KNDI $LIVE $MHR $NQ $SINA $WNR autocharts @ http://t.co/kn4mViMgNq
Frederick Martin
17 Apr 14 09:32:55
RT @johnwelshtrades: $CNAT will also be effected by $ICPT binary update in July.
More Ant
17 Apr 14 08:00:39
RT @Catalystrader: $ICPT, I don't think this beast can be kept in the cage much longer, looking for sharp reversal bounce to $300+ soon eno…
Catalyst Trader
17 Apr 14 07:54:48
$ICPT, I don't think this beast can be kept in the cage much longer, looking for sharp reversal bounce to $300+ soon enough.
Derald Muniz
17 Apr 14 07:52:08
$ICPT chart updated, continues to hold this Horz Supp line. remain S in 50/50 Basket w/ Bear Collar http://t.co/X5lRfXdNoo
Elite Day Trader
17 Apr 14 07:40:29
$ICPT Bull Market Gainer http://t.co/igqHlBYc0Z
John Welsh
17 Apr 14 07:36:30
$CNAT will also be effected by $ICPT binary update in July.
TakingStock614
17 Apr 14 07:30:35
$ICPT has room here to run 264-271 range.
Ethan
17 Apr 14 07:22:06
Line in the sand, in my opinion, is 260. $icpt Not saying we are going there. That’s when this thing stops looking like it’s dying.
Anthony Nguyen
17 Apr 14 06:51:20
loving the volatility crush today in earnings plays on $GOOGL and $CMG all working out. $FB, $ICPT and $UVXY also holding up well enough.
Kermit Bailey
17 Apr 14 06:03:20
$ICPT Positive Results on Inter http://t.co/RV368trNKz
Louie O'Malley
17 Apr 14 05:50:28
$ICPT Positive Results on Inter http://t.co/hl3WL46JWm
Pacific High Trading
17 Apr 14 05:48:27
PHT Day Trade Set Up 4/17/2014 – $CSTM $FNSR $ICPT $LKQ $ROSE $WWW $Z http://t.co/5uSrI9AzwQ
Colin Kuberski
17 Apr 14 03:45:09
$ICPT Nasdaq stocks posting largest percentage decreases http://t.co/2WuowJ8sbc
Clinton Majors
17 Apr 14 02:18:54
$ICPT Positive Results on Inter http://t.co/iSwz6EHuOA
Eternity101
16 Apr 14 19:39:05
$ICPT - under 200 ? $ISRG - under 400 ? $GOOGL - under 500 ? $AAPL - under 500 ? THURSDAY's watch http://t.co/qU1Bx4nHik
Research Chief
16 Apr 14 18:31:19
$ICPT Positive Results on Intercept P http://t.co/5ffVcN4xbi
Scott Thomas
16 Apr 14 15:31:21
RT @stockstobuy: Plug Power $PLUG is one of the Top Stock in 2014, Up 357% - http://t.co/fIQdu14cvZ #Stocks $ISR $VRS $BIOF $ICPT $LIVE $PE…
Tim Weidman
16 Apr 14 14:20:32
RT @stockstobuy: Plug Power $PLUG is one of the Top Stock in 2014, Up 357% - http://t.co/fIQdu14cvZ #Stocks $ISR $VRS $BIOF $ICPT $LIVE $PE…
Jacob
16 Apr 14 14:20:10
RT @stockstobuy: Plug Power $PLUG is one of the Top Stock in 2014, Up 357% - http://t.co/fIQdu14cvZ #Stocks $ISR $VRS $BIOF $ICPT $LIVE $PE…
Jacob
16 Apr 14 14:20:04
.@stockstobuy If you can handle the volatility then go for it. $ISR may fall victim to biotech bubble. $BIOF is not bad. $ICPT is tough.
Stocks to Buy
16 Apr 14 14:17:07
Plug Power $PLUG is one of the Top Stock in 2014, Up 357% - http://t.co/fIQdu14cvZ #Stocks $ISR $VRS $BIOF $ICPT $LIVE $PEIX $RDNT $BLDP
Terikan
16 Apr 14 13:41:37
Mad Money Strategy http://t.co/kCaqFdAoyd Another painful week, portfolio in the red $ICPT down big, late into $RAD, strength in $ALJ $MPC
Derald Muniz
16 Apr 14 13:35:50
Commented on StockTwits: I understand, an important week for everyone to position & adjust to future strikes. $ICPT http://t.co/F6LqFpwx0Z
Ethan
16 Apr 14 13:34:03
Commented on StockTwits: Generally agree with you, but option expiration throws a giant wrinkle in. $ICPT http://t.co/vmE4qkptGD
Gagan Rawal
16 Apr 14 13:29:01
@MookTrader good job. Time to pick $icpt
Ethan
16 Apr 14 13:07:06
$ICPT - where are we pinning this stock? 230,240,250,260?
Amy Alvarez
16 Apr 14 12:57:11
$ICPT Positive Results on I http://t.co/G93ZB1kLfy
TakingStock614
16 Apr 14 12:44:02
$ICPT W close over the 21ema could lead to a quick move to 340-350. Wishful thinking.
Jon Vince
16 Apr 14 12:11:06
So many former #MoMos rebounding the past day, but $FEYE (& $ICPT) not among them (tho #icpt did have 21% rip ystrday, giving back now)
Jon Vince
16 Apr 14 11:41:13
"@OpenOutcrier: $NQ falling off - this thing can move" It could be, along w $PLUG & $ICPT, #DayTraders fave stock, ytd
				
				
By  +Follow January 14, 2014 12:05PM
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