Raymond James Maintains Outperform Rating for Intercept Pharmaceuticals: Here's What You Need To Know

Raymond James has decided to maintain its Outperform rating of Intercept Pharmaceuticals ICPT and raise its price target from $26.00 to $28.00.

Shares of Intercept Pharmaceuticals are trading up 2.25% over the last 24 hours, at $18.14 per share.

A move to $28.00 would account for a 54.36% increase from the current share price.

About Intercept Pharmaceuticals

Intercept Pharmaceuticals is a biotech company focused on developing and commercializing novel therapeutics to treat chronic liver diseases. Obeticholic acid, or OCA, is an agonist of the farnesoid X receptor. OCA was approved as Ocaliva to treat primary biliary cirrhosis in 2016 and is being developed for a variety of chronic liver diseases, including nonalcoholic steatohepatitis, or NASH.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.