FBR Capital analyst Vernon Bernardino cut his price target for Intercept Pharmaceuticals to $192 and keeps a Market Perform rating on the name. The market opportunity of the company's investigational liver disease drug, obeticholic acid, is smaller than initially estimated, Bernardino admits in a research note. The analyst now believes OCA will achieve $2.2B in peak annual sales in non-alcoholic steatohepatitis, versus a prior estimate of $2.7B. His reduced forecast is based on the likelihood of Intercept having inadequate long-term safety data in NASH. Shares of Intercept closed yesterday at $205.97.