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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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April 1, 2015
10:33 EDTICPTOptions with decreasing implied volatility
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March 31, 2015
10:08 EDTICPTIntercept falls, levels to watch
The stock was last down over 3% to $285.91. That is off the earlier low at $281.50, which is now support. Resistance is at $288, the high of the day, and then at $291.80. The company filed to sell 1.2M shares of common, with the offering pricing at $282.
09:28 EDTICPTOn The Fly: Pre-market Movers
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09:22 EDTICPTIntercept 1.2M share Spot Secondary priced at $282.00
UBS and Citigroup acted as joint book running managers for the offering.
07:42 EDTICPTIntercept 1.2M share Spot Secondary; price range $281.00-$288.50
UBS and Citigroup are acting as joint book running managers for the offering.
06:28 EDTICPTIntercept files to sell 1.2M shares of common stock
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March 27, 2015
12:09 EDTICPTAnalysts differ on Intercept after Genfit NASH data
Two analysts differed on the outlook for Intercept (ICPT) after a drug that could compete with the company's flagship product failed to meet its primary endpoint in a study. BACKGROUND: Genfit (GNFTF) yesterday announced that in a trial of its GFT505 NASH treatment, the drug failed to meet the primary endpoint. The company blamed the shortfall on greater than expected improvement in the condition of patents taking placebos. Nonalcoholic Steatohepatitis, or NASH, is a symptom of nonalcoholic fatty liver disease. Intercept's flagship product, OCA, is also a treatment for NASH that is undergoing clinical trials. However, OCA has received "breakthrough therapy designation" from the FDA for the treatment of liver fibrosis patients with NASH. BULLISH TAKE: In a note to investors earlier today, Deutsche Bank analyst Alethia Young wrote that Genfit's drug failed to make an impact on fibrosis histology. OCA's profile in NASH patients with fibrosis has improved relative to GFT-505 following the study. And OCA "is the clear leader in treating patients with NASH that have fibrosis," the analyst stated. Although Genfit's drug did show "early signs" of being able to treat fibrosis, OCA has already shown a statistically significant benefit in fibrosis in an earlier trial, Young noted. The analyst raised her price target on the name to $400 from $300 and kept a Buy rating on the shares. BEARISH TAKE: Genfit's data provides useful information that could enable the company to design a successful Phase III trial that tests its drug on patients similar to those who have participated in Intercept's trial, Leeink analyst Joseph Schwartz stated. In 202 patients with more advanced NASH, Genfit's drug improved NASH symptoms by a statistically significant amount, Schwartz reported. Intercept's OCA reduced the symptoms of analogous NASH patients by a similar amount in a study, but the drug's impact was not statistically significant because of a higher placebo effect, the analyst reported. Consequently, Genfit's drug may have missed its primary endpoint because of the difficulty of measuring NASH in patients with earlier stages of the disease, the analyst wrote. Noting that Genfit, like Intercept, plans to initiate a Phase III study of its drug at the end of this year, Schwartz said that Genfit may not be very far at all behind Intercept. As a result, investors may question the peak market opportunity of Intercept's OCA, according to Schwartz, who kept a Market Perform rating on Intercept. PRICE ACTION: In late morning trading, Intercept rose 2% to $288.
08:52 EDTICPTIntercept has positive read through from competitor data, says BMO Capital
After Intercept (ICPT) competitor Genfit announced top-line results from a Phase 2 trial of its oral PPAR agonist GFT505 in NASH, BMO Capital says that Genfit's data was disappointing and will consolidate the lead of Intercept's OCA in NASH. The firm reiterates an Outperform rating on Intercept.
08:45 EDTICPTIntercept opportunity may be questioned after Genfit data, say Leerink
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08:07 EDTICPTIntercept price target raised to $400 from $300 at Deutsche Bank
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March 26, 2015
15:07 EDTICPTIntercept's FLINT data more convincing than Gefit data, says RBC Capital
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14:45 EDTICPTIntercept's risk/reward remains favorable, says Citigroup
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13:04 EDTICPTIntercept rallies after GENFIT announces NASH study results
GENFIT announced topline results of the phase 2 GOLDEN-505 trial in NASH. It stated, "Due to the unexpected rate of resolution of NASH in patients randomized to placebo who had early NASH (NAS of 3, placebo response rate>57%), along with the high number of sites for a limited sample size, the study as initially designed did not enable the trial to meet directly the primary endpoint. With correction for this baseline severity and site heterogeneity by a standardized statistical analysis, GFT505 120mg meets the primary endpoint: Reversal on NASH without worsening of fibrosis, as detailed below." Treatment with GFT505 provides a significant beneficial effect on the primary endpoint in the global randomized population, where patients without an end of treatment biopsy were considered as non-responders, GENFIT added. The primary endpoint was also achieved in the evaluable population of patients who underwent both baseline and end of study liver biopsies. Shares of Intercept, which is also developing a NASH treatment, jumped 7%, or $18.06 to $278.70.
12:56 EDTICPTIntercept jumps after Genfit says NASH drug missed endpoint in Phase 2 study
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March 25, 2015
16:55 EDTICPTOrbiMed Advisors lowers stake in Intercept to 5.64% from 7.0%
March 23, 2015
07:22 EDTICPTIntercept price target raised to $265 from $205 at Leerink
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March 20, 2015
09:24 EDTICPTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: (CTRP), up 20.1%... Rally Software (RALY), up 17.3%... Nike (NKE), up 5.2%... Darden Restaurants (DRI), up 4.3%... Cheetah Mobile (CMCM), up 3.6%. ALSO HIGHER: Prothena (PRTA), up 40.2% after reporting positive results from Phase 1 study of PRX002... Viggle (VGGL), up 26.9% after confirming receipt of offer from chairman and CEO Robert Sillerman... Intercept Pharmaceuticals (ICPT), up 8.5% after announcing new data analyses from FLINT trial... Biogen Idec (BIIB), up 9.7% after presenting positive interim results from study of aducanumab... Pier 1 Imports (PIR), up 5.2% after being upgraded to Outperform from Perform at Oppenheimer... JinkoSolar (JKS), up 2.8% after announcing that it will supply 75 MWdc of its PV solar modules to Red Horse 2 project and following a strategic collaboration agreement with DuPont (DD). DuPont is up just under 1%. DOWN AFTER EARNINGS: AK Steel (AKS), down 6.8%... Youku Tudou (YOKU), down 4.9%... Tiffany (TIF), down 3.3%. ALSO LOWER: Macerich (MAC), down 7.7% after Simon makes $95.50 per share "best and final" offer.
06:02 EDTICPTIntercept announces new data analyses from FLINT trial
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March 19, 2015
13:07 EDTICPTIntercept to host analyst and investor meeting
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March 18, 2015
09:00 EDTICPTIntercept price target raised to $344 from $258 at RW Baird
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