Intercept Pharma (ICPT): AASLD Meeting Takeaway - Needham

Needham & Company analyst, Alan Carr, reiterated his Buy rating on shares of Intercept Pharmaceuticals (NASDAQ: ICPT) after the company presented additional analyses of Ocaliva clinical data as well as preclinical INT-767 data at recent AASLD mtg. Behind Genfit and Intercept, several companies are bringing new candidates forward in NAFLD/ NASH and have begun presenting clinical data.

The analyst believes multiple candidates have an encouraging impact on some histology parameters, but it is too early to tell if any will emerge as viable safe and effective drugs. The analyst stated "we note Intercept and Tobira/ Allergan have shown statistically significant improvements in fibrosis and Gilead recently reported encouraging impact on fibrosis w/ selonsertib. A range of mechanisms are under exploration, including several non-steroidal FXR agonists. Although there were a large number of HCV presentations at the mtg, a shift towards NAFLD/ NASH is increasingly evident."

No change to the price target of $350.

For an analyst ratings summary and ratings history on Intercept Pharmaceuticals click here. For more ratings news on Intercept Pharmaceuticals click here.

Shares of Intercept Pharmaceuticals closed at $113.51 yesterday.

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