NONOF - Intercept Pharmaceuticals: Undervalued Ahead Of An Eventful Period
Investment Thesis
Intercept Pharmaceuticals, Inc. (ICPT) is ahead of a potential FDA approval that could unlock a market opportunity worth billions of dollars. Despite the concerns over the side effects, the drug could become the first-ever to treat liver fibrosis in NASH. However, the stock is sharply down this year as the Ad Com meeting for its NDA filing gets repeatedly delayed, pushing back the PDUFA date.
Meanwhile, the company’s only commercialized product is growing at a consistent clip as its competitive landscape remains largely unchanged. However, the consensus growth forecast for the