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Fly News Breaks for June 1, 2016
ICPT
Jun 1, 2016 | 08:04 EDT
Oppenheimer analyst Carlos Solorzano says that while an accelerated FDA approval for Intercept's Ocaliva in primary biliary cholangitis, or PBC, was widely expected, he is encouraged by the lack of restrictions in the label, which should support a "solid" launch. Additionally, Solorzano thinks the drug's PBC success may give potential acquirers more confidence, and sees possible upside in Intercept's shares arising from potential M&A. He reiterates and Outperform rating and $265 price target on the shares.
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