Intercept price target raised to $493 from $449 at Wedbush Wedbush raised its price target for Intercept Pharmaceuticals shares to $493 saying a new Phase 2 clinical study for OCA in alcoholic hepatitis increases the company's acquisition value. The firm reiterates an Outperform 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.