UPDATE: BMO Capital Markets Raises PT on Intercept Pharmaceuticals Following 2Q13 Operating Results

In a report published Wednesday, BMO Capital Markets analyst Jim Birchenough reiterated an Outperform rating on Intercept Pharmaceuticals (NASDAQ: ICPT ), and raised the price target from $44.00 to $62.00. In the report, BMO Capital Markets noted, “ICPT reported 2Q13 operating results today and provided an update on key initiatives.