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Fly News Breaks for May 6, 2016
ICPT
May 6, 2016 | 07:33 EDT
UBS lowered its price target on Intercept Pharmaceuticals to $180 from $260 to reflect the weakened sentiment in small and mid-cap biotech stocks. The firm maintained its Buy rating on Intercept shares, based on the potential approval of Oclavia and its launch later this month. The target date for the FDA to take action on accelerated approval of Intercept's Ocaliva as second line treatment for primary biliary cholangitis, or PBC, is May 29.
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