Intercept Pharmaceuticals Price Target Increased to $872.00 by Analysts at Bank of America Corp. (ICPT)
Analysts at Bank of America Corp. boosted their target price on shares of Intercept Pharmaceuticals (NASDAQ:ICPT) from $81.00 to $872.00 in a research report issued to clients and investors on Friday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Bank of America Corp.’s price target points to a potential upside of 216.09% from the stock’s previous close.
The analysts wrote, “Based on the staggering est prevalence of 6 million US advanced NASH patients (similar exUS), and trajectory for NASH leading to epidemic cirrhosis and liver transplant rates, this market has a potential to be as big or bigger than Hepatitis C,” the report noted. “As a base case in our model, we are assigning a $4B peak sales estimate on OCA on what we view as extraordinary study results. While the stock quadrupled yesterday, we see additional significant upside as investors size the market opportunity for NASH.” Some highlights from the report included: -”The Phase 3 FLINT study of OCA in NASH was stopped early based on a statistically significant outcome from an interim analysis.”-”
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings results on Thursday, November 14th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by $1.14. During the same quarter in the previous year, the company posted ($1.86) earnings per share.
Separately, analysts at BMO Capital Markets raised their price target on shares of Intercept Pharmaceuticals to $270.00 in a research note to investors on Thursday. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $369.86.
In other Intercept Pharmaceuticals news, Insider Luciano Adorini sold 1,634 shares of the stock on the open market in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $67.41, for a total transaction of $110,147.94. Following the completion of the sale, the insider now directly owns 6,392 shares of the company’s stock, valued at approximately $430,885. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Intercept Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapeutics to treat chronic liver disease.
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