Stock Update: Intercept Pharmaceuticals Inc (NASDAQ:ICPT)

[Globe Newswire] Intercept Pharmaceuticals Inc (NASDAQ:ICPT), a clinical stage biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat chronic liver and intestinal diseases, announced today the appointment of Lisa Bright as Senior Vice President and Head of Europe, effective November 17, 2014. Ms. Bright will be a member of the Intercept senior management team and will spearhead Intercept’s European operations based in London as the company prepares for the first indication approval and launch of obeticholic acid (OCA). A seasoned executive who brings more than 25 years of biotech and pharmaceutical industry experience, Ms. Bright comes to Intercept from Gilead Sciences where she held positions of increasing responsibility, including Vice President, Northern Europe, and most recently Vice President, Head of Sovaldi Launch Planning for Europe, Asia, Middle East and Australasia and Vice President, Head Government Affairs for Europe, Middle East and Australasia.

Ms. Bright’s leadership of Sovaldi’s European launch contributed to the most successful product launch in pharmaceutical history. Ms. Bright joined Gilead as General Manager, UK & Ireland in 2008. Prior to that, she held a range of senior leadership positions over a 10-year tenure at GSK, including Vice President & Managing Director of GSK’s New Zealand operations and Vice President and Head of Sales, UK.

There are currently fifteen analysts that we track that cover the stock.  Of those fifteen, twelve have a Buy rating, two have a Hold rating and two have a Sell rating. On a consensus basis this yields a score of 2.73 and a Buy.  The combined price objective of these covering analysts is $447.17, which represents a 186% upside difference to the last closing price.

A recent analyst activity consisted of JMP Securities Initiating Coverage their Outperform stance on the company.  JMP Securities has a price target of $500.00 which represents an upside of 102.77% from the last closing price.  On the date of the report, the stock closed at $222.72.

Another research firm weighing in recently was Cowen and Company who also Initiated Coverage on the stock.  On September 05th Cowen And Company upgraded their price target on the stock to $420.00, or a 70.32% upside to the current price.  On the day of the report, ICPT shares closed at $286.16.

Intercept Pharmaceuticals Inc (NASDAQ:ICPT) a development stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics to treat chronic liver and intestinal diseases utilizing its proprietary bile acid chemistry. It primarily develops obeticholic acid, a bile acid analog that is in Phase III clinical trials for the treatment of primary biliary cirrhosis; in Phase IIa clinical trial to treat portal hypertension; in Phase II clinical trial for the treatment of alcoholic hepatitis; in Phase IIb clinical trial for the treatment of nonalcoholic steatohepatitis; and in Phase IIa clinical trial to treat bile acid diarrhea. The company was founded in 2002 and is headquartered in New York, New York.

Stock Update: Intercept Pharmaceuticals Inc (NASDAQ:ICPT) was last modified: November 20th, 2014 by Seth Talluto

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