Could be written for POET
posted on
Apr 05, 2015 04:11PM
ICPT has an interesting meteoric rise or "pop" if you like. It has nothing to do with high technology as POET does. It doesn't have a 28 year history of trial and error as POET does. It doesn't have the capability and capacity to become the next globally disruptive technology as POET does.
However, what it does have is (copy&paste) article which (change some wording) could of been written for POET Technologies ™ introduction to the investment community.
Specifically, Intercept said it finished the double-blind phase of their Phase 3 trial in PBC and that “a vast majority of the patients completing the 12 months have opted to cross over to the five year long term safety extension open-label phase of the trial.” In addition, the company obtained positive clinical data in all six Phase 2 clinical trials completed to date in five different indications. Further NASH trials of OCA are also being conducted by its partner Dainippon Sumitomo Pharma in Japan in 2014 with top lines results expected by the end of 2015.
To say the market reacted positively to this news was beyond understatement. Over the course of just a few days, the stock skyrocketed into the $400 range, closing Friday at $445. The company’s market value leaped from $1.4 billion to $8.6 billion in just two days of trading!
With this news, some Wall Street firms finally — albeit a bit late — jumped on the ICPT bandwagon. Citigroup (C) raised its target to $400, stating that its market cap (at the time $5.4 billion) didn’t reach the opportunity for these liver disease treatments. They estimated that the OCA could exceed a $5 billion sales level. Oppenheimer (OPY) also raised its target to $360 while Bank of America/Merrill’s (BAC) target is set at $872, the only one not yet exceeded with the most recent move.
So what to do now if you weren’t a shareholder a few days – or a few hundred points – ago? It’s likely that most analysts who haven’t been covering the stock until now will be somewhat tentative after such a huge runup.
However, I’m still quite bullish on ICPT. While the near term is likely to be somewhat bumpy, I see further gains up to 50% or more over the next twelve months, pushing the stock from current levels into the upper $600s
http://investorplace.com/2014/01/icpt-intercept-stock-stocks-to-buy-pharmaceutical-stocks-to-buy/view-all/#.VSGP8Mf4CMY
QX