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 price target lowered to $99 from $125 at FBR Capital FBR Capital lowered its price target for shares of Intercept Pharmaceuticals to $99 after the company updated guidance for the Phase III program for OCA in NASH. FBR thinks Intercept's plan to propose co-primary endpoints increases the efficacy risk of the program, especially if a lower dose is included to minimize itching and lipid excursions. The firm thinks shares are worth about $70 without the NASH opportunity. It keeps an Underperform rating on the stock.