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Stock Market & Financial Investment News

News Breaks
March 14, 2014
05:45 EDTICPTIntercept price target raised to $700 from $600 at Citigroup
Citigroup raised its price target for Intercept shares to $700 saying lipid changes in the company's FLINT trial are likely receive less regulatory scrutiny than current consensus expectations. Citi's new target reflects a higher probability of approval for the company's nonalcoholic steatohepatitis treatment and it reiterates a Buy rating on the stock.
News For ICPT From The Last 14 Days
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February 12, 2016
13:55 EDTICPTRBC thinks Intercept values itself more than any bidder can pay
RBC Capital analyst Michael Yee believes Intercept Pharmaceuticals (ICPT) thinks it is worth more than a bidder would be willing to pay at this time. Suitor interest is not surprising given Intercept's pending approval in the summer, but a near-term takeover is unlikely since the FDA hasn't even held a panel meeting for the company's lead drug OCA, Yee tell investors in a research note after Reuters reported that the company received interest and is exploring a possible sale. The analyst thinks Intercept could be synergistic for companies like Gilead (GILD), Merck (MRK), Bristol-Myers (BMY), Sanofi (SNY) and AstraZeneca (AZN). Yee has an Outperform rating on stock with a $300 price target. Intercept is rallying 25%, or $24.07, to $118.36 in afternoon trading.
13:49 EDTICPTIntercept deal could drag biotech sector out of doldrums, says Oppenheimer
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13:29 EDTICPTIntercept sale unlikely before FDA panel meeting, says Wells Fargo
12:51 EDTICPTIntercept said to explore sale after suitors reportedly come calling
Shares of Intercept Pharmaceuticals (ICPT), which has often been rumored in the past to be a potential takeover target, are surging in afternoon trading after Reuters reported that the company is exploring a potential sale. WHAT'S NEW: Reuters, citing people familiar with the matter, said the company, which focuses on treatments for liver disease, has been working with investment banker advisors to explore a sale after receiving interest from other companies. PRIOR CHATTER: Earlier this week, United Kingdom blog Proactive Investors discussed "reheated rumors" of a takeover of Intercept, which claimed the company was teaming up with CenterView Partners to advise on a sale. It mentioned AstraZeneca (AZN) as a possible suitor now that Shire (SHPG) has reached an agreement to acquire Baxalta (BXLT). On February 2, the U.K.'s Daily Mail said rumors that several big-name pharmaceutical companies were interested in Intercept had been "doing the rounds again," noting that trader chatter pointed to purported interest from Shire, Gilead (GILD), Bristol-Myers (BMY) and Pfizer (PFE). WHAT'S NOTABLE: Yesterday, the FDA issued a notice to announce a forthcoming meeting of the Gastrointestinal Drugs Advisory Committee to discuss the new drug application for obeticholic acid oral tablets submitted by Intercept Pharmaceuticals, proposed for the treatment of primary biliary cirrhosis in combination with ursodeoxycholic acid in adults with an inadequate response to UDCA or as monotherapy in adults unable to tolerate UDCA. PRICE ACTION: In afternoon trading, Intercept jumped 35% to $127.85 per share. Reference Link
12:20 EDTICPTIntercept jumps 8%, halted for circuit breaker after Reuters says exploring sale
12:19 EDTICPTIntercept explores sales after receiving interest, Reuters reports
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February 11, 2016
09:01 EDTICPTFDA panel to meet April 7 to discuss Intercept NDA for obeticholic acid
The FDA issued a notice to announce a forthcoming meeting of the Gastrointestinal Drugs Advisory Committee to discuss the new drug application for obeticholic acid oral tablets submitted by Intercept Pharmaceuticals, Inc., proposed for the treatment of primary biliary cirrhosis in combination with ursodeoxycholic acid in adults with an inadequate response to UDCA or as monotherapy in adults unable to tolerate UDCA. The FDA said it intends to make background material available to the public no later than 2 business days before the meeting, which is scheduled to be held on April 7. Reference Link
February 9, 2016
09:56 EDTICPTIntercept higher following report of vague takeover chatter
Shares of Intercept Pharmaceuticals (ICPT) are moving after United Kingdom blog Proactive Investors discussed "reheated rumours" of a takeover. "Vague talk" has Intercept teaming up with CenterView Partners to advise on a sale, the blog states. It mentions AstraZeneca (AZN) as a possible suitor now that Shire (SHPG) has reached an agreement to acquire Baxalta (BXLT). Shares of Intercept, which is developing treatments for chronic liver diseases, are up 4% to $97.39 in early trading.
09:50 EDTICPTIntercept rumored to be working with advisor on sale, Proactive Investors says
There was "vague talk" in the market that Intercept (ICPT) has hired CenterView Partners as an advisor to explore a sale and "attention is said to have switched" to AstraZeneca (AZN) as one of a number of possible buyers, according to Proactive Investors. Reference Link
February 2, 2016
09:46 EDTICPTIntercept rumored to draw interest from many suitors, Daily Mail says
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January 29, 2016
11:14 EDTICPTIntercept says CFO Barbara Duncan leaving company
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10:05 EDTICPTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Atlassian (TEAM) upgraded on positive outlook at JMP Securities... BRF S.A. (BRFS) upgraded to Buy from Hold at Deutsche Bank... Bank of America (BAC) upgraded to Outperform from Sell at CLSA... CEMEX (CX) upgraded to Buy from Hold at Jefferies... Chemical Financial (CHFC) upgraded to Outperform from Market Perform at Fig Partners... Computer Programs (CPSI) upgraded to Buy from Hold at Topeka... DST Systems (DST) upgraded to Outperform at Baird... Diamond Offshore (DO) upgraded to Neutral from Sell at Citi... First Cash Financial (FCFS) upgraded to Buy from Neutral at Janney Capital... First Merchants (FRME) upgraded to Overweight from Equal Weight at Stephens... Flex (FLEX) upgraded on solid results at Stifel... Intercept (ICPT) upgraded to Equal Weight from Underweight at Morgan Stanley... J.C. Penney (JCP) upgraded to Neutral from Underperform at Credit Suisse... JetBlue (JBLU) upgraded to Buy from Hold at Evercore ISI... Juniper (JNPR) upgraded to Outperform from Market Perform at Bernstein... Live Oak Bancshares (LOB) upgraded to Buy from Neutral at SunTrust... Microsemi (MSCC) upgraded to Outperform from Market Perform at Wells Fargo... NetSuite (N) upgraded to Buy from Hold at Canaccord... NextEra Energy (NEE) upgraded to Outperform at Baird... Oshkosh (OSK) upgraded to Buy from Neutral at SunTrust... PC Connection (PCCC) upgraded to Market Perform from Underperform at Raymond James... Pinnacle Financial (PNFP) upgraded to Overweight from Equal Weight at Stephens... Potash (POT) upgraded to Outperform from Sector Perform at Scotiabank... Rayonier (RYN) upgraded on valuation at BMO Capital... SanDisk (SNDK) upgraded to Buy from Hold at Needham... Select Comfort (SCSS) upgraded to Outperform from Neutral at Wedbush... Sotherly Hotels (SOHO) upgraded to Buy from Neutral at Janney Capital... Textura (TXTR) upgraded to Outperform from Market Perform at Northland... Valley National (VLY) upgraded to Buy from Hold at Sandler O'Neill.
07:28 EDTICPTIntercept upgraded to Equal Weight from Underweight at Morgan Stanley
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