RBC Capital analyst Brian Abrahams raised the firm’s price target on Intercept to $18 from $15 but keeps a Sector Perform rating on the shares. The recent settlements and court rulings bode well for obeticholic acid, or OCA, exclusivity but other risks remain, the analyst tells investors in a research note. The firm adds that there could be several other entrants to the primary biliary cholangitis market, with near-term registrational data from elafibranor and seladelpar – both of which are showing potential for comparable/better biomarker responses without pruritus tradeoffs.
Published first on TheFly
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