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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Today’s Research Reports on Stocks to Watch: Puma Biotechnology and Intercept Pharmaceuticals

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / December 14, 2017 / Shares of Puma Biotechnology closed up over 5% yesterday on news regarding the European Medicines Agency. Shares of Intercept Pharmaceuticals soared higher as well after a "buy" rating was given to the stock by analyst Navin Jacob.

RDI Initiates Coverage on:

Puma Biotechnology, Inc.
https://rdinvesting.com/news/?ticker=PBYI

Intercept Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=ICPT

Puma Biotechnology, Inc. shares closed up 5.62% on Wednesday. The stock traded about 800,000 shares yesterday. The biopharma company announced that the European Medicines Agency (EMA) has requested that the Scientific Advisory Group on Oncology provide an opinion on the clinical aspects of the Marketing Authorization Application (MAA) for neratinib at a meeting to be held on January 11, 2018. It was on August 22nd of last year that Puma had announced that the MAA for neratinib had been validated by the EMA. The MAA for neratinib is based on results from both the Phase III ExteNET trial in extended adjuvant early-stage HER2-positive breast cancer and the Phase II CONTROL trial in extended adjuvant early-stage HER2-positive breast cancer. The company plans to respond to the Day-180 List of Outstanding Issues by the deadline of December 22, 2017.

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Access RDI’s Puma Biotechnology, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=PBYI

Intercept Pharmaceuticals, Inc. shares closed up 5.87% on Wednesday on nearly 1.4 million shares traded. There was no significant news from the company yesterday but analyst Navin Jacob initiated coverage of Intercept with a "buy" rating and gave the stock a $106 price target. He cited Intercept's liver disease treatment Ocaliva (OCA), which is approved for primary biliary cholangitis (PBC). PBC is a rare, severe liver disease that leads to cirrhosis, liver failure, and death. The treatment could also be approved for wider use in patients with non-alcoholic fatty liver disease (NASH), pending the outcome of the REGENERATE trial. He wrote, "We assign 60% probability of success to REGENERATE which leads to peak risk-adjusted NASH sales of $2.2B. If REGENERATE fails/succeeds, ICPT is worth $51/ $177 so we see favorable risk/reward." Last week the company announced that management would be participating in the 2017 BMO Capital Markets: Prescriptions for Success Healthcare Conference today at 2:30 p.m. Eastern Time. The company is focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases, including primary biliary cholangitis (PBC), nonalcoholic steatohepatitis (NASH), primary sclerosing cholangitis (PSC) and biliary atresia.

Access RDI’s Intercept Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ICPT

Our Actionable Research on Puma Biotechnology, Inc. (NASDAQ: PBYI) and Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com