Long Position on ICPT @ $109.50 on 11/17/2016 (Momentum)

Intercept Pharmaceuticals, Inc. (ICPT) focuses on the development and commercialization of therapeutics to treat non-viral, progressive liver diseases.

Its lead product candidate is obeticholic acid, a bile acid analog, that completed Phase III clinical trials for the treatment of primary biliary cholangitis and Phase II clinical trials for the treatment of nonalcoholic fatty liver disease; and is in Phase III clinical trials for the treatment of nonalcoholic steatohepatitis, Phase II clinical trials for the treatments of primary sclerosing cholangitis, and Phase II clinical trial for the treatment of biliary atresia.

The company is also developing INT-767, an orally administered dual FXR and TGR5 agonist, which is in Phase I clinical trial for the treatment of fibrosis; and INT-777, an orally administered TGR5 agonist that is in preclinical stage for the treatment of type 2 diabetes.

Shares have formed a bullish "double bottom" followed the company's earnings report. The company missed its numbers but gave positive outlook for its drugs. Higher share prices are expected for this stock.

52-Weeks Trading Range: $89.76 - $186.87

Entry Point: $109.50

Stop Loss: $105.00

Target Price: $121.00

Updates

12/28/2016 12:39:01 PM

ICPT closed at $112.00

Position closed on 12/28/2016 at price of $112.00 with a 2.28% gain in 41 days.

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