Intercept price target raised to $700 from $600 at Citigroup Citigroup raised its price target for Intercept shares to $700 saying lipid changes in the company's FLINT trial are likely receive less regulatory scrutiny than current consensus expectations. Citi's new target reflects a higher probability of approval for the company's nonalcoholic steatohepatitis treatment and it reiterates 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.