B. Riley FBR analyst Mayank Mamtani earlier today added Intercept Pharmaceuticals (ICPT) to his firm’s Alpha Generator list. The analyst sees “strong” strong fundamentals over next year and a high likelihood of FDA approval in mid-2020. Mamtani lowered his price target for Intercept to $158 from $169 and keeps a Buy rating on the shares. His new target reflects the company’s recent capital raise, the removal of removing Gilead (GILD) as near-term competitor with selonsertib’s recent failure, and the push out of a European launch from the second half of 2020 to Q1 of 2021.
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