Cowen Reiterates Intercept Pharmaceuticals (ICPT) at Market Perform, Believes Company May Hit Temporary Break-even in 2022

Cowen analyst Ritu Baral reiterated a Market Perform rating and $28.00 price target on Intercept Pharmaceuticals (NASDAQ: ICPT), following the company's Q4 report.

The analyst quotes: "ICPT reported 4Q21 Ocaliva sales of $92.4M vs. consensus of $90.9M. FY22 Ocaliva guidance is $375-405M (including an 5.9% Jan price increase) vs consensus of $369.1M. Ph3 OCA F4 NASH data is delayed to 3Q21. REGENERATE reanalysis is on track for 1H22. Ph2 OCA+Bez trials are ongoing, and cash of $477M represents significant runway, as ICPT may hit temporary break-even in '22."

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 $13.56 yesterday.

By Vlad Schepkov | [email protected]

You May Also Be Interested In

• TD Cowen Reiterates Buy Rating on Tesla (TSLA), well-positioned to scale in US AV market
• Freedom Broker Upgrades Serve Robotics (SERV) to Buy
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating