Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research note issued to investors on Friday. They currently have a $239.00 price objective on the biopharmaceutical company’s stock. Wedbush’s price target would suggest a potential upside of 52.48% from the stock’s previous close.

ICPT has been the topic of a number of other research reports. Barclays PLC restated a “buy” rating and issued a $205.00 price objective (up previously from $200.00) on shares of Intercept Pharmaceuticals in a report on Wednesday, June 1st. FBR & Co restated a “hold” rating and issued a $200.00 price objective (up previously from $192.00) on shares of Intercept Pharmaceuticals in a report on Tuesday, May 31st. Robert W. Baird restated an “outperform” rating and issued a $332.00 price objective on shares of Intercept Pharmaceuticals in a report on Wednesday, June 15th. Credit Suisse Group AG restated a “buy” rating and issued a $200.00 price objective on shares of Intercept Pharmaceuticals in a report on Friday, August 5th. Finally, Vetr cut shares of Intercept Pharmaceuticals from a “buy” rating to a “hold” rating and set a $146.64 price objective on the stock. in a report on Tuesday, May 31st. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Intercept Pharmaceuticals currently has an average rating of “Hold” and an average target price of $177.67.

Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) opened at 156.74 on Friday. The company’s market cap is $3.88 billion. The company has a 50 day moving average of $158.02 and a 200-day moving average of $146.79. Intercept Pharmaceuticals has a 12-month low of $89.76 and a 12-month high of $217.99.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($3.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($3.69) by $0.55. The business had revenue of $5.52 million for the quarter, compared to analysts’ expectations of $1.72 million. Intercept Pharmaceuticals had a negative net margin of 5,003.95% and a negative return on equity of 50.58%. The business’s revenue was up 1140.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.99) earnings per share. Equities research analysts anticipate that Intercept Pharmaceuticals will post ($16.31) earnings per share for the current year.

In other news, CEO Mark Pruzanski sold 714 shares of the firm’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $145.11, for a total transaction of $103,608.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lisa Bright sold 246 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $159.00, for a total transaction of $39,114.00. Following the sale, the insider now owns 18,460 shares in the company, valued at $2,935,140. The disclosure for this sale can be found here. Insiders own 9.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. increased its stake in shares of Intercept Pharmaceuticals by 129.1% in the second quarter. Macquarie Group Ltd. now owns 22,690 shares of the biopharmaceutical company’s stock valued at $3,237,000 after buying an additional 12,788 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Intercept Pharmaceuticals during the second quarter worth about $384,000. Schwab Charles Investment Management Inc. increased its stake in shares of Intercept Pharmaceuticals by 19.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 56,429 shares of the biopharmaceutical company’s stock worth $8,052,000 after buying an additional 9,112 shares in the last quarter. Amalgamated Bank increased its stake in shares of Intercept Pharmaceuticals by 39.0% in the second quarter. Amalgamated Bank now owns 2,619 shares of the biopharmaceutical company’s stock worth $413,000 after buying an additional 735 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Intercept Pharmaceuticals by 4.5% in the second quarter. Legal & General Group Plc now owns 1,196 shares of the biopharmaceutical company’s stock worth $171,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

About Intercept Pharmaceuticals

Intercept Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat non-viral, progressive liver diseases. The Company’s product candidates have the potential to treat orphan and more prevalent diseases for which there are limited therapeutic solutions.

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