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Top Analyst Bullish on Intercept Pharmaceuticals (ICPT) and Cempra Inc (CEMP) in Anticipation of Drug Approvals


Analyst Alan Carr of Needham weighed in on Intercept Pharmaceuticals (NASDAQ:ICPT) and Cempra Inc (NASDAQ:CEMP) today.

<span class='TipRanksAnalyst'>Alan Carr</span> Stats

Intercept Pharmaceuticals

Carr maintains a Buy rating on Intercept with a $500 price target due to the submission of a New Drug Application for OCA in PBC (Primary Biliary Cholangitis), which he believes will raise the share price upon approval.

The analyst states, “Intercept (ICPT) submitted an NDA and MAA for Obeticholic Acid (OCA) in Primary Biliary Cholangitis in June 2015… The PDUFA date was recently pushed to 5/29/16. We do not believe the delay, which was tied to a request by the agency for additional information, impacts chances of approval. We assume launch in the U.S. in...