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UPDATE: BMO Capital Markets Initiates Intercept Pharmaceuticals at Outperform on Outlook

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BMO Capital Markets initiated coverage on Intercept Pharmaceuticals (NASDAQ: ICPT) with an Outperform rating and a $31 price target.

BMO Capital Markets said, "Our positive outlook is supported by a proprietary platform of bile acid analogs, a deep pipeline of clinical candidates, and a lead opportunity in Primary Biliary Cirrhosis (PBC), a rare orphan disease supporting a $500 million–$1 billion opportunity. With phase 3 data for lead bile acid analog OCA (INT-747) expected by mid-2013, phase 2 data in PBC is compelling, in our opinion, and should support a clear benefit in patients failing current standard bile acid therapy with ursodiol (URSO)."

Intercept Pharmaceuticals closed at $18.75 on Friday.

Latest Ratings for ICPT

DateFirmActionFromTo
Oct 2017Bank of AmericaMaintainsUnderperform
Oct 2017Seaport GlobalInitiates Coverage OnBuy
Oct 2017JMP SecuritiesDowngradesMarket OutperformMarket Perform

View More Analyst Ratings for ICPT
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Initiation Intraday Update Analyst Ratings

 

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