BofA/Merrill Lynch Downgrades Intercept (ICPT) to Neutral on Lack of Catalysts
BofA/Merrill Lynch downgraded Intercept Pharmaceuticals (NASDAQ: ICPT) from Buy to Neutral with a price target of $315. Earlier Intercept announced plans for an international Phase 3 trial of OCA in NASH. Analyst Ying Haung sees the design "as expected" though the trial size is larger. The downgrade was tied to a lack of catalysts going forward.
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Shares of Intercept Pharmaceuticals closed at $313.98 yesterday.