Intercept price target raised to $400 from $60 at Citigroup Citigroup raised its price target for Intercept shares to $400 from $60 saying it still sees value in the stock despite yesterday's 300% gain. Citi believes the company's $5.4B market capitalization does not reflect its multi-billion dollar opportunity in non-alcoholic steatohepatitis/ liver fibrosis. The firm thinks Intercept's obeticholic acid could top $5B a year in sales and keeps a Buy rating on the stock.
Intercept initiated with a Buy, $465 target at UBS UBS analyst Matthew Roden started shares of Intercept Pharmaceuticals with a Buy rating and $465 price target. Roden sees a favorable risk/reward ahead of the approval and commercial launch of the company's obeticholic acid, known as OCA, in primary biliary cirrhosis. Roden also thinks OCA's opportunity in nonalcoholic steatohepatitis is being undervalued at current share levels. Shares of Intercept closed yesterday up $2.53 to $274.44.