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Fly News Breaks for March 7, 2019
ICPT
Mar 7, 2019 | 07:12 EDT
Wells Fargo analyst Jim Birchenough lowered his price target for Intercept Pharmaceuticals to $99 from $113 after surveying 25 hepatologists and gastroenterologists that are experts in nonalcoholic steatohepatitis treatment. The stock closed yesterday down 3%, or $3.27, to $104.45. Overall survey results suggest a modest perceived clinical benefit for Intercept's obeticholic acid, with major concerns regarding pruritus, but potential for physician education on the data. The analyst keeps a Market Perform rating on Intercept shares.
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