The Rising Challenge for Intercept Pharmaceuticals: Analyst Downgrade Amid Ocaliva's DILI Concerns
Portfolio Pulse from Vandana Singh
Canaccord Genuity has lowered the price target for Intercept Pharmaceutical Inc (NASDAQ:ICPT) from $26 to $12 with a Hold rating, amid concerns over drug-induced liver injury (DILI) related to Ocaliva. The FDA has expressed concerns about the potential fatality of DILI. Needham also downgraded the stock from Buy to Hold.
May 23, 2023 | 6:53 pm
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NEGATIVE IMPACT
Intercept Pharmaceutical's price target has been lowered by Canaccord Genuity due to concerns over Ocaliva's DILI risks. Needham also downgraded the stock, potentially impacting its short-term performance.
The lowered price target and downgrade by Canaccord Genuity and Needham are based on concerns over Ocaliva's DILI risks, which could negatively impact the company's stock price in the short term. The FDA's concerns about the potential fatality of DILI add to the negative sentiment surrounding the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100