Intercept initiated at UBS

Intercept initiated with a Buy at UBS. UBS analyst Navin Jacob started Intercept Pharmaceuticals with a Buy rating and $130 price target. The company’s Phase III Regenerate study of Ocaliva in nonalcoholic steatohepatitis, with a readout in Q1 of 2019, is a “true binary event” with a potential valuation swing of 60% in either direction, Jacob tells investors in a research note. The analyst sees a 65% chance of success for the trial. Jacob says Intercept shares have “significant risk but with potential for high reward.”
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