Wells Fargo analyst Jim Birchenough lowered his price target for Intercept to $57 from $62 following his most recent review of the FDA AERS Safety Database for marketed bile acid analog OCALIVA, and significant increase in patient deaths in Q4. While Intercept has highlighted an independent safety review of post-marketing safety events cited in a September, 2017 FDA Drug Safety Communication, the analyst believes that significant increase in patient deaths in Q4 is concerning and the rate is above that predicted for the approved OCALIVA patient population by his estimate. Birchenough reiterates a Market Perform rating on the shares.