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Intercept Pharma (ICPT) Stock Slips, Downgraded at Morgan Stanley

NEW YORK (TheStreet) -- Shares of Intercept Pharmaceuticals (ICPT - Get Report) are sliding 4.79% to $155.99 on heavy trading volume Friday afternoon as Morgan Stanley downgraded the stock to "underweight" from "equal weight" earlier today.

The firm also cut its price target on the stock to $80 from $100.

Yesterday, an FDA panel backed the New York-based biopharmaceutical company's drug obeticholic acid (OCA) for use in patients with primary biliary cirrhosis (PBC).

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However, the panel failed to...


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