Intercept Pharmaceuticals (ICPT) PT Lowered to $200 at Oppenheimer, Keeps 'Outperform'
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Oppenheimer analyst Jay Olson lowered his price target on Intercept Pharmaceuticals (NASDAQ: ICPT) to $200.00 (from $250.00) but maintained an Outperform rating.
Olson commented, "We refresh our Outperform rating on ICPT as we expect OCA to become a foundational therapy for the treatment of NASH either alone or in combination with other eventual treatments. We forecast ~$5B peak sales of OCA for NASH with a 64% probability of success. Meanwhile the PBC launch is on track with our expectations to reach $500M in peak annual sales. Our bullish stance on ICPT is based on our anticipation of PBC sales ramp and increased clarity around OCA's potential in NASH."
Shares of Intercept Pharmaceuticals closed at $137.41 yesterday.
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