Intercept Pharmaceuticals Rebounds After Phase 2 Trial Of OCA Disappoints

Intercept Pharmaceuticals Inc ICPT shares ended the day lower by $3.51 at $164.13 in Wednesday's session. Following the announcement of the Phase 2 Trial for OCA the issue opened sharply lower ($139.52 vs. Tuesday's close of $167.64). It declined another $0.52 before bottoming at $139 and sharply reversed course. The ensuing rally took the issue back into Tuesday's range, peaking at $164.99. Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

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