Intercept Announces Departure of Chief Financial Officer
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H.C. Wainwright Upgrades Intercept Pharmaceuticals (ICPT) to Neutral
March 12, 2021 6:15 AM ESTH.C. Wainwright analyst Ed Arce upgraded Intercept Pharmaceuticals (NASDAQ: ICPT) from Sell to Neutral with a price target of $21.00 (from $25.00).
The analyst comments "We downgraded ICPT to Sell on February 23 when it traded at about $30 per share (prior close $29.86). The shares hit a multi-year low of $19.33 on March 4, and are now close to $21, largely on recent macroeconomic optimism, in our view. Our underlying thesis (NASH program has little to no risk-adjusted value, and PBC franchise faces substantial risks) has not changed. However, given the drop in... More
