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.
News For ICPT From The Last 14 Days
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Intercept started with Underperform, $172 target at FBR Capital FBR Capital initiated shares of Intercept with an Underperform rating and $172 price target. The stock closed yesterday at $296.36. FBR believes investors are too optimistic on the nonalcoholic steatohepatitis market and the company's path to commercialization for its obeticholic acid. The firm thinks Intercept may face payor pushback and restriction as its drug will be competing with hepatitis C treatments for dollars.