Fly News Breaks for September 13, 2017
Sep 13, 2017 | 08:18 EDT
BMO Capital analyst M. Ian Somaiya says the letter sent by Intercept to healthcare providers regarding its Ocaliva drug relates to failure by doctors to adhere to dose adjustments recommended in its label. Since no new adverse events were cited in the letter, the analyst does not expect any changes to the label. He continues to expect strong Ocaliva prescriptions to result in the company reporting beat and raise Q3 results, and he recommends buying the stock on weakness. He keeps a $221 price target and an Outperform rating on the stock.
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