Analysts Upgrade: Intercept Pharmaceuticals Inc (ICPT)

Intercept Pharmaceuticals Inc (NASDAQ:ICPT) received a stock rating upgrade from Wells Fargo on Apr-05-16. In a note to investors, the firm issued an Outperform rating. The analysts previously had a Market Perform rating on the stock.

Analysts have a consensus target price of $ 259.75 in the 12-month period. The price objective is 71.67% higher than the recent closing price of $ 151.31. The 52-week price range is $ 89.76 – 314.88 and the company has a market capitalization of $ 3.63B. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. zero analyst has rated the stock with a sell rating, 4 has assigned a hold rating, zero says it’s a buy, and 5 have assigned a strong buy rating to the company.

Intercept Pharmaceuticals Inc (ICPT) on March 30, 2016 announced that multiple abstracts evaluating obeticholic acid (OCA) in patients with primary biliary cirrhosis, recently renamed primary biliary cholangitis (PBC), and nonalcoholic steatohepatitis (NASH) will be presented at the International Liver Congress 2016, the 51st Annual Meeting of the European Association for the Study of the Liver (EASL), in Barcelona, Spain, from April 13-17, 2016.

Intercept will present eight abstracts at the Congress, including new analyses of the Phase 3 POISE trial in PBC and Phase 2 FLINT trial in NASH. Study designs for the Phase 3 REGENERATE Trial in NASH and Phase 2 CARE trial in biliary atresia will also be presented.

“It is exciting to see the new emphasis on non-viral liver disease at research forums like the International Liver Congress,” said David Shapiro, M.D., Intercept’s Chief Medical Officer & Executive Vice President, Development. “As we continue to prepare for potential U.S. and European approvals of OCA for patients with primary biliary cholangitis this year, cholestatic liver diseases like PBC and PSC are receiving more attention from researchers and clinicians. Additionally, new analyses of the FLINT trial continue to provide the hepatology community with important insights about NASH, a condition which is continuing to grow into a global public health issue in liver disease.”

In addition to the clinical study presentations and posters, two of Intercept’s collaborators will be giving oral presentations on the role of nuclear receptors in metabolism and cancer and the gut liver axis. Intercept will continue to explore this area with a recently announced research collaboration to evaluate the effects of OCA and other product candidates on the microbiome in a variety of non-viral liver diseases, beginning with NASH.

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