In a report issued on January 7, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on Intercept Pharma (ICPT). The company’s shares closed yesterday at $110.82.
Mamtani noted:
“Earlier today (1/7/2019), Intercept Pharmaceuticals, Inc. (ICPT) announced two key updates to the two Phase III trials ongoing for its lead candidate, obeticholic acid (OCA), or Ocaliva, in patients afflicted with non-alcoholic steatohepatitis (NASH); (i) Phase III REGENERATE trial in F2-F3 NASH patients to report 72-week interim analysis data in 1Q, narrowing prior guidance of 1H19; and (ii) Phase III REVERSE trial in F4 NASH patients with compensated cirrhosis has now completed enrollment. In parallel, ICPT has also acquired U.S. rights to bezafibrate from Aralez Pharmaceuticals as an effort to pioneer the next phase of innovation for primary biliary cholangitis (PBC) patients after Ocaliva was originally approved by FDA in 2019. Financials of the deal were undisclosed.”
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