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January 10, 2014
06:34 EDTICPTIntercept price target raised to $400 from $60 at Citigroup
Citigroup raised its price target for Intercept shares to $400 from $60 saying it still sees value in the stock despite yesterday's 300% gain. Citi believes the company's $5.4B market capitalization does not reflect its multi-billion dollar opportunity in non-alcoholic steatohepatitis/ liver fibrosis. The firm thinks Intercept's obeticholic acid could top $5B a year in sales and keeps a Buy rating on the stock.
News For ICPT From The Last 14 Days
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January 22, 2015
07:17 EDTICPTIntercept price target lowered to $300 from $500 at Deutsche Bank
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January 12, 2015
08:13 EDTICPTIntercept plans to initiate PSC Program Biliary Atresia Phase in 2H15
Intercept provided a clinical update on obeticholic acid, or OCA, a novel bile acid analog and first-in-class agonist of the farnesoid X receptor, or FXR, as well as planned 2015 milestones and other general business updates. OCA is currently being developed for the treatment of several chronic liver diseases, including primary biliary cirrhosis, or PBC, nonalcoholic steatohepatitis, or NASH, and primary sclerosing cholangitis, or PSC. The completion of PBC Program NDA and MAA filings planned in 1H15. The NASH Program Phase 3 program initiation planned in 1H15 and Japan Phase 2 trial data expected at the end of 2015. The PSC Program Biliary Atresia: Phase 2 initiation planned in 2H15 and INT-767: Phase 1 initiation planned for the end of 2015. Intercept ended 2014 with approximately $240M in cash and investments. For FY15, the company projects adjusted operating expenses in the range of $180M-$200M, which excludes stock-based compensation and other non-cash items. These expenses will support the clinical development program for OCA in PBC, NASH and PSC, expansion of our clinical, regulatory, medical affairs and commercial infrastructure in the United States and Europe, expansion of OCA manufacturing activities, as well as advancement of INT-767 and other preclinical pipeline programs. Adjusted operating expense, as presented above, is a non-GAAP financial measure. The company anticipates that stock-based compensation expense will represent the most significant non-cash item that is excluded in adjusted operating expenses as compared to operating expenses under GAAP.

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