H.C. Wainwright downgraded Intercept Pharmaceuticals to Neutral from Buy with an unchanged price target of $19 after the company entered into a definitive merger agreement with Alfasigma for $19 per share. The analyst expects no obstructions to the transaction, and anticipates that the stock remains trading close to $19 per share until the deal is closed.
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Read More on ICPT:
- 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
- Alfasigma to acquire Intercept for $19.00 per share in cash
- Intercept price target raised to $20 from $18 at Canaccord