Citi Downgrades Intercept Pharmaceuticals (ICPT) to Neutral

Citi downgraded Intercept Pharmaceuticals (NASDAQ: ICPT) from Buy to Neutral with a price target of $92.00 (from $150.00).

Analyst Joel Beatty comments "the FDA announcement is different in that it is worded to imply causation and adds that some patients experienced symptom resolution after discontinuing OCA, in our view." The analyst believes Thursday's selloff is related to commercial concerns about OCA as well some investors questioning the predictability of management.

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 $73.70 yesterday.

You May Also Be Interested In

• Delek Logistics Partners, LP (DKL) PT Raised to $54 at Mizuho
• Ionis Pharmaceuticals (IONS) PT Lowered to $90 at Jefferies
• Hershey (HSY) PT Lowered to $200 at Piper Sandler