Market News Call

Bio Buzz: Intercept Pharmaceuticals Inc (NASDAQ:ICPT), Valeant Pharmaceuticals Intl Inc (NYSE:VRX)

Wedbush lowers their Intercept Pharmaceuticals Inc(NASDAQ:ICPT) tgt to $239 from $423. Intercept announced U.S. approval of obeticholic acid (OCA) as OCALIVA for primary biliary cholangitis (PBC). Although management guided to an initial gradual launch, they project gross peak annual sales of over $1.6 billion in 2022 and profitability in 2019. Next catalyst is U.S. launch in early June. We believe FY:16 consensus estimates for OCALIVA sales are achievable and with additional catalysts on the horizon we see ICPT as an attractive investment.

Should Investors Buy ICPT After The Big News? Find Out Here

Valeant Pharmaceuticals Intl Inc(NYSE:VRX ) schedules conference call for June 7 to discuss Q1 results; provides update on regulatory matters, continues to expect to file 10Q on or before June 10 as previously detailed  (28.45 +0.03) The announced that it plans to host a conference call and live webcast on June 7, 2016 to discuss first quarter 2016 financial results. The call will start at 8 AM ET.

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