Intercept price target raised to $139 from $130 at UBS

UBS analyst Navin Jacob raised his price target on Intercept to $139 and kept his Buy rating, saying the headwind on the stock price coming from uncertainty created by the top line data release of Ocaliva’s phase 3 NASH trial represents a buying opportunity. Jacob contends that “any lingering safety concerns” for Intercept look to be overly discounted after the commentary from the company CEO suggested “no imbalance for liver injury”, also speculating that Ocaliva is likely to be approved with additional subgroup data possibly identifying patients groups that may benefit most from the drug.

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