Intercept initiated at Credit Suisse

Intercept initiated with an Outperform at Credit Suisse. Credit Suisse analyst Michael Morabito started coverage of Intercept with an Outperform rating and $167 price target. The analyst notes that the company’s lead asset Ocaliva is preparing to enter a large and lucrative market to treat nonalcoholic steatohepatitis. Morabito expects the NASH market to exceed $20B by 2030 in the U.S. alone, with Ocaliva likely to be the first FDA-approved therapy. He forecasts about $4B in peak sales for Ocaliva from NASH.
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