Needham Sticks to Their Buy Rating for Intercept Pharma (ICPT)

Needham analyst Joseph Stringer maintained a Buy rating on Intercept Pharma (ICPTResearch Report) today and set a price target of $22.00. The company’s shares opened today at $15.71.

Stringer covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Moderna, and Phathom Pharmaceuticals. According to TipRanks, Stringer has an average return of 10.0% and a 49.58% success rate on recommended stocks.

Currently, the analyst consensus on Intercept Pharma is a Moderate Buy with an average price target of $22.57.

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Based on Intercept Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $77.59 million and a net profit of $267.45 million. In comparison, last year the company earned a revenue of $66.64 million and had a GAAP net loss of $3.63 million

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Intercept Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the research, development, and commercialization of novel therapeutics in treating chronic liver diseases. Its product pipeline is OCALIVA which is used for the treatment of primary biliary cholangitis, nonalcoholic steatohepatitis, primary sclerosing cholangitis, and biliary atresia. The company was founded by Mark E. Pruzanski and Roberto Pellicciari on September 4, 2002 and is headquartered in New York, NY.

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