Selling the (lack of) news
Investors often "sell the news" because it's old news and thus is, so the sellers think, more-than-fully priced in. When the selling reaches a 30% haircut, as it did at the end of the week with Intercept Pharmaceuticals (ICPT), it tends to force anyone interested in the stock to... well... take stock.
This article analyzes the latest data, which is more detailed than that provided on Feb. 19 of the REGENERATE clinical trial of OCA (obeticholic acid/Ocaliva) in NASH (nonalcoholic steatohepatitis).
Despite the selloff, from a multi-year low