Intercept Pharmaceuticals (Nasdaq: ICPT) stock surged 45% today (Tuesday) to a new 52-week high of $349.08 after the company reported Q2 results and provided promising updates on several of its key drugs.
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Usually the best stocks to buy have not already tripled in value within the past six months.
But then there's Intercept Pharmaceuticals Inc. (Nasdaq: ICPT).
This biotech stock soared more than 500% in two days on the news its innovative and promising hepatitis drug obeticholic acid, or OCA, had a trial stopped early because the drug met the goals of the study.
Bulls have refused to be distracted by some negative news that has pushed the stock back under $300 in the meantime.
Anyone who did not "sell in May and go away" has likely enjoyed stock gains - especially in Nasdaq stocks.
But, it's the Nasdaq Composite sporting the most intense rebound after two months in the red. The Nasdaq fell 4.2% from January to mid-April, but is up nearly 6% since then.
Yes, you're reading this correctly - Intercept Pharmaceuticals Inc. (Nasdaq: ICPT) stock more than tripled today (Thursday).
ICPT shares surged 300% in trading today after an analysis by an independent safety committee showed its liver disease drug met the main goal of a mid-stage trial. ICPT stock closed at $275.49, up 280.56% from Wednesday's closing price of $72.39. The stock climbed as high as $305 in intraday trading.