Baird Maintains Bullish View on Intercept Pharmaceuticals (ICPT) Following Positive Briefing Docs

Baird analyst Brian Skorney reiterated an Outperform rating and $332 price target on Intercept Pharmaceuticals (NASDAQ: ICPT) following positive FDA briefing documents.

Skorney commented, "Though we admit being scared by FDA's three-month delay, today's briefing docs are, what's the word? Boring. And that is a good thing. There seems to be some question still around validity of the surrogate endpoints, specifically ALP, but all in all, we think the FDA is leaning toward an approval here, and that safety issues that could have readthrough to NASH, didn't really seem to be an issue. We reiterate our Outperform."

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 $133.55 yesterday.

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