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Fly News Breaks for August 1, 2017
ICPT
Aug 1, 2017 | 05:54 EDT
Jefferies analyst Michael Yee attributes yesterday's post-earnings selloff in shares of Intercept Pharmaceuticals to management commentary on potential summer seasonality, one patient death in the Phase 2 study and the perception of less catalysts in the second half of 2017. The analyst believes the stock recovers "given no change to fundamentals." He recommends buying the shares on yesterday's pullback. Yee thinks the patient death is unlikely related to Intercept's drug and he keeps a Buy rating on the shares with a $275 price target.
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