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Stock Market & Financial Investment News

News Breaks
May 15, 2014
10:04 EDTICPT, GALTIntercept rises after analyst targets shares to more than double
Shares of drugmaker Intercept Pharmaceuticals (ICPT) are climbing after research firm Summer Street initiated coverage of the shares with a Buy rating and a $650 price target in a note to investors earlier today. WHAT'S NEW: Intercept's obeticholic acid drug demonstrated such a high level of efficacy as a treatment for nonalcoholic steatohepatitis in a Phase II study that the trial was stopped early, analyst Jim Molloy wrote. Late stage nonalcoholic steatohepatitis, also known as NASH, affects about 8M people in the U.S. each year and causes victims to die unless they receive liver transplants. It's "hard to overstate the opportunity" for obeticholic acid, wrote Molloy, who predicts that the FDA will approve the drug in the fourth quarter of 2015. He notes that the company is looking at using the drug to treat a variety of other liver related indications as well. OTHERS TO WATCH: Galectin Therapeutics (GALT) has stated that it believes its drug candidates "have the potential to treat NASH and other forms of liver fibrosis." PRICE ACTION: In early trading, Intercept gained $2.57, or 1%, to $273.51.
News For ICPT;GALT From The Last 14 Days
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May 21, 2015
10:58 EDTICPTDeutsche Bank biotech analyst holds an analyst/industry conference call
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09:58 EDTICPTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Alibaba (BABA) initiated with an Outperform at Bernstein... Alkermes (ALKS) initiated with an Overweight at Barclays... Burlington Stores (BURL) initiated with an Outperform at FBR Capital... Crocs (CROX) initiated with a Neutral at B. Riley... Darling (DAR) initiated with a Buy at Roth Capital... Dynegy (DYN) initiated with an Outperform at RBC Capital... Esperion (ESPR) initiated with an Overweight at Barclays... Five Below (FIVE) initiated with a Market Perform at FBR Capital... Intercept (ICPT) initiated with an Overweight, $450 target at Barclays... Johnson Matthey (JMPLY) initiated with a Buy at Jefferies... Nike (NKE) initiated with a Buy at Jefferies... RTI Surgical (RTIX) initiated with a Buy at Sidoti... TeleNav (TNAV) initiated with an Outperform at Northland... Trevena (TRVN) initiated with an Equal Weight at Barclays... Vectrus (VEC) initiated with a Hold at Stifel.
05:41 EDTICPTIntercept initiated with an Overweight, $450 target at Barclays
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05:37 EDTICPTAlkermes initiated with an Overweight at Barclays
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May 20, 2015
07:05 EDTICPTIntercept update in-line with expectations, says Baird
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May 19, 2015
16:23 EDTICPTOn The Fly: Top stock stories for Tuesday
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11:57 EDTICPTFollow-up: Intercept downgraded on lack of catalysts at BofA/Merrill
As previously reported, BofA/Merrill downgraded Intercept to Neutral from Buy. The firm said with the announcement of Intercept's Phase 3 REGENERATE trial to evaluate OCA for NASH removes a catalyst for shares. BofA/Merrill believes the focus will now turn to PBC approval and expected in 1H 2016 launch, which is reflected in valuation. The firm maintains its $315 price target.
11:46 EDTICPTIntercept downgraded to Neutral from Buy at BofA/Merrill
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11:09 EDTICPTIntercept trial endpoints not surprising, says Deutsche Bank
Deutsche Bank says it is not surprised by the design or size of the Phase 3 OCA trial announced this morning. The firm has a Buy rating on Intercept with a $500 price target.
10:07 EDTICPTIntercept shares defended on trial design at Cowen
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09:52 EDTICPTIntercept weakness a buying opportunity, says RBC Capital
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06:32 EDTICPTIntercept to host conference call
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06:08 EDTICPTIntercept announces international Phase 3 trial of OCA
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May 14, 2015
08:23 EDTGALTGalectin Therapeutics' fibrosis and cancer candidate passes FDA requirement
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May 11, 2015
08:30 EDTGALTGalectin Therapeutics reports Q1 EPS (22c), one estimate (20c)
06:10 EDTICPTIntercept reports Q1 EPS ($1.78), consensus ($1.69)
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