- Galectin Therapeutics (GALT), which develops galectin inhibitors against NASH/liver fibrosis, jumps 17.5% following the storming success of Intercept Pharmaceuticals' (ICPT) beticholic acid in a trial.
- Another company that operates in the space, La Jolla Pharmaceutical (LJPC), is +2.6%.
- Intercept is up 245% at around $250, giving it a market cap of $4.9B. BMO has given the stock a price target of $270.
- Despite the hoopla, it's worth noting that the company generates minimal revenue.
- $ICPT on Twitter.
- ETF: IBB
Intercept shares go crazy, Galectin jumps
Jan 9 2014, 10:05 ET