Market Overview

Intercept Pharma Higher On Takeover Rumor

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Intercept Pharmaceuticals Inc (NASDAQ: ICPT) shares are trading higher by $23 at $162.68 in Tuesday's session. One day removed from breaching its October 28 low ($139), reaching $137.28, the issue is now back over $160.

One reason for the move: Speculation that Shire PLC (ADR) (NASDAQ: SHPG) is considering an acquisition offer, according to outlet "This Is Money."

After a sharply higher open ($157.45), it retreated to $157 before continuing its move higher. So fa, it has reached $169, but has fallen back into the lower $160 handle. The current high is just shy of its December 2 high ($170.46).

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