Intercept (ICPT) Most Lucrative Opportunity Remains in NASH - Baird

Baird analyst Brian Skorney reiterated an Outperform rating and $332 price target on Intercept Pharmaceuticals (NASDAQ: ICPT) after the FDA, as expected, approved Intercept's obeticholic acid, branded as Ocaliva, for the drug's first indication, primary biliary cholangitis (PBC).

"Though this does signal Intercept's transition from a research-stage company into a commercial entity, the most lucrative opportunity remains an approval in NASH, which is still a few years away," Skorney commented. "That said, the PBC approval will provide valuable capital to help fund the multiple ongoing and planned NASH studies. We reiterate our Outperform rating and $332 price target."

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 $141.77 yesterday.

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