TD Cowen analyst Ritu Baral lowered the firm’s price target on Intercept to $10 from $22 and keeps a Market Perform rating on the shares. Intercept is discontinuing all OCA NASH development after a second CRL for obeticholic acid in NASH, and management plans to wind down the ongoing REGENERATE NASH trial and restructure operations through YE23 to preserve its PBC commercial footprint, the analyst tells investors in a research note. The company will focus on rapidly advancing the Phase 2 OCA-bezafibrate combination for primary biliary cholangitis, targeting profitability by 2024.
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Published first on TheFly
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