Intercept Pharma +9% as Wedbush Morgan raises price target

|About: Intercept Pharmaceuticals (ICPT)|By:, SA News Editor

Intercept Pharmaceuticals (ICPT +8.9%) rises after Wedbush Morgan hikes its target price on the shares to $493, projecting gross annual peak sales of the company's OCA (obeticholic acid) treatment for alcoholic hepatitis could surpass $3B worldwide.

ICPT is supporting a phase 2 trial treating 60 patients with alcoholic hepatitis beginning in March; prevalence estimates for AH are 10%-35% of alcoholics, or 2.4M-8.4M U.S. patients.