Cowen Reiterates Bullish View on Intercept Pharmaceuticals (ICPT) Ahead of Catalysts, Trims PT to $412

Cowen analyst Ritu Baral trimmed the price target on Intercept Pharmaceuticals (NASDAQ: ICPT) to $412.00 (from $420.00) following Q2 results and update, but maintained an Outperform rating as the NASH trial heats up and the OCA for PBC launch gears up.

Baral commented, "We are expecting FDA approval of OCA for PBC assuming priority review in 1Q16 and EMA approval in 2Q16. The NASH OCA Phase 3 REGENERATE trial is expected to initiate in 3Q15 as well as the Phase 2 lipid metabolism trial in 2H15. ICPT has increased their operating expense guidance significantly for year 2015."

For an analyst ratings summary and ratings history on Intercept Pharmaceuticals click here. For more ratings news on Intercept Pharmaceuticals click here.

Shares of Intercept Pharmaceuticals closed at $260.13 yesterday.

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