Baird Maintains Bullish View on Intercept Pharmaceuticals (ICPT), Concerns Overblown

November 3, 2016 1:01 PM EDT
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Price: $105.40 +0.17%

Rating Summary:
    16 Buy, 4 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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Baird analyst Brian Skorney reiterated his Outperform rating and $332 price target on Intercept Pharmaceuticals (NASDAQ: ICPT), saying concerns are overblown

Skorney commented, "Intercept reported $4.7M in sales for Ocaliva's first full quarter on the market, modestly outshining estimates. We actually think consensus numbers are currently underestimating 4Q sales potential. That said, news that NASH enrollment has been slow set off fears that the 1H17 interim enrollment timeline could be missed. That would mean higher spend for the company (which is sitting on nearly $400M in net cash), it doesn't hurt ICPT's competitive positioning, so we think the reaction here is overblown."

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 $117.55 yesterday.

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