RBC Capital raised the firm’s price target on Intercept to $19 from $12 and keeps a Sector Perform rating on the shares. The analyst cites the takeout by Alfasigma at a bullish valuation while bypassing the near-term regulatory and competitive risks. The proposed terms at a substantial premium to yesterday’s close represents an attractive offer for existing shareholders to realize upside, the firm added.
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Read More on ICPT:
- Intercept price target raised to $19 from $11 at TD Cowen
- Intercept downgraded to Neutral from Buy at H.C. Wainwright
- Intercept downgraded to Hold from Buy at Canaccord
- Intercept downgraded to Neutral from Buy at B. Riley
- Alfasigma to Acquire Intercept Pharmaceuticals for $19.00 per Share in Cash, Expanding the Global Footprint of Alfasigma Via a Leader in Rare and Serious Liver Diseases
