Seeking Alpha

BofA sees $4B market for Intercept's OCA

  • "This market has the potential to be as big or bigger than Hepatitis C," BofA's Rachel McMinn says, in one of today's most talked about sell-side calls.
  • "We are assigning a $4B peak sales estimate on obeticholic acid on what we view as extraordinary study results," McMinn says, before adding that "ICPT is making steady progress in securing a confirmatory trial design."
  • Although this note was released after Thursday's rally (McMinn sees "additional significant upside" even after the quadruple), one can't help but note that the $872 price target represents upside of 1,094% from where the shares were trading earlier this week.
  • Meanwhile, shares of Intercept Pharmaceuticals (ICPT +68.6%) have managed (incredibly) to extend this morning's rally, and at one point hit $497 — they traded at $73 on Wednesday.
  • For more, see here.
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Comments (3)
  • DeepValueLover
    , contributor
    Comments (9719) | Send Message
     
    If you can find shares then this is the biggest obvious short since (USU) and (UNXL).

     

    A lot of shorts are going to make a ton of cash on this one.
    10 Jan 2014, 02:05 PM Reply Like
  • BradyStreet414
    , contributor
    Comments (11) | Send Message
     
    Listen to the company's conference call on their website. You'll begin to understand the many avenues of potential revenue this drug pipeline may have. They characterized that the western world is just at the beginning of this coming tsunami of liver disease.
    10 Jan 2014, 04:49 PM Reply Like
  • Weighing Machine
    , contributor
    Comments (783) | Send Message
     
    clearly Merrill Lynch has the highest ethical standards and isn't just making up a huge price target to curry favor with execs and get a piece of the secondary (as the company sells new shares and insiders pour out)...
    10 Jan 2014, 06:22 PM Reply Like
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