Intercept (ICPT) 'Breaking Away from the Competition', Nomura Says

Nomura Securities analyst M. Ian Somaiya reiterated a Buy rating and $440 price target on Intercept Pharmaceuticals (NASDAQ: ICPT) following release of two post-hoc analyses, "which confirmed starting statins as a way to correct LDL increases seen in FLINT as well as OCA’s greater benefit in high-risk NASH patients (i.e., target market)."

Somaiya commented, "We believe the 18.9mg/dL reduction in LDL (to ~93.mg/dL) vs. baseline for patients that started statins during FLINT could address lingering concerns on CV risk associated with the drug. In addition, limiting efficacy analysis to high-risk patients resulted in OCA achieving statistical significance in NASH resolution, which was the only efficacy measure in the trial that did not achieve significance in the overall trial population. Importantly, the magnitude of fibrosis benefit improved in the posthoc analysis, confirming fibrosis benefit is not limited to patients with less advanced disease. Overall, we believe these data may close the perceived safety gap between OCA and GFT505, while OCA’s efficacy in difficult to treat fibrotic NASH patients further raises the competitive bar."

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 $288.51 yesterday.

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