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Intercept Pharmaceuticals (ICPT) Soars On 2014 Anticipated Milestones Expectations

Jan. 10, 2014 11:33 AM ET
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https://static.seekingalpha.com/uploads/2014/1/10/saupload_icpt.jpg Intercept Pharmaceuticals, Inc. (ICPT)

Shares of ICPT are trading on different levels after the company provided a clinical update on obeticholic acid, a novel bile acid analog and first-in-class agonist of the farnesoid X receptor, currently being developed in a Phase 3 trial for primary biliary cirrhosis, as well as Phase 2 trials for several chronic indications including nonalcoholic steatohepatitis, portal hypertension and bile acid diarrhea, together with projected 2014 anticipated milestones.

ICPT's price target was raised:

- from $270.00 to $375.00 by brokerage firm BMO Capital

- from $94.00 to $360.00 by brokerage firm Oppenheimer

- from $60.00 to $400.00 by brokerage firm Citigroup

- from $81.00 to $872.00 by brokerage firm BofA/Merrill

https://static.seekingalpha.com/uploads/2014/1/10/saupload_icpt_chart.png

ICPT is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat orphan and more prevalent liver diseases utilizing its expertise in bile acid chemistry.

ICPT's lead product candidate, obeticholic acid, has received orphan drug designation in both the United States and Europe for the treatment of primary biliary cirrhosis. ICPT owns worldwide rights to obeticholic acid outside of Japan and China, where it has out-licensed the product candidate to Dainippon Sumitomo Pharma.

More about Intercept Pharmaceuticals, Inc. (ICPT) at www.interceptpharma.com.

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