Intercept Pharmaceuticals’ (ICPT) “Buy” Rating Reaffirmed at Credit Suisse Group AG
A number of other research firms also recently weighed in on ICPT. Oppenheimer Holdings Inc. reissued a buy rating on shares of Intercept Pharmaceuticals in a research note on Wednesday, June 1st. Goldman Sachs Group Inc. increased their price target on Intercept Pharmaceuticals from $114.00 to $128.00 and gave the company a neutral rating in a research note on Tuesday, May 31st. Laidlaw downgraded Intercept Pharmaceuticals from a buy rating to a sell rating and cut their price target for the company from $345.00 to $105.00 in a research note on Friday, August 5th. Robert W. Baird restated an outperform rating and issued a $332.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, June 1st. Finally, Wells Fargo & Co. restated a buy rating on shares of Intercept Pharmaceuticals in a research report on Tuesday, May 31st. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. Intercept Pharmaceuticals currently has an average rating of Hold and an average price target of $177.67.
Intercept Pharmaceuticals (NASDAQ:ICPT) opened at 168.21 on Thursday. The stock’s market cap is $4.16 billion. Intercept Pharmaceuticals has a one year low of $89.76 and a one year high of $217.99. The stock’s 50 day moving average price is $157.92 and its 200-day moving average price is $147.43.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($3.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.69) by $0.55. The company had revenue of $5.52 million for the quarter, compared to the consensus estimate of $1.72 million. Intercept Pharmaceuticals had a negative return on equity of 50.58% and a negative net margin of 5,003.95%. The firm’s quarterly revenue was up 1140.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.99) EPS. On average, analysts predict that Intercept Pharmaceuticals will post ($16.31) earnings per share for the current year.
In other news, insider Lisa Bright sold 246 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 18,460 shares of the company’s stock, valued at $2,935,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Pruzanski sold 714 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $145.11, for a total transaction of $103,608.54. The disclosure for this sale can be found here. Company insiders own 9.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ICPT. BlackRock Fund Advisors boosted its position in shares of Intercept Pharmaceuticals by 7.2% in the first quarter. BlackRock Fund Advisors now owns 467,272 shares of the biopharmaceutical company’s stock valued at $60,030,000 after buying an additional 31,289 shares in the last quarter. State Street Corp boosted its position in shares of Intercept Pharmaceuticals by 27.5% in the first quarter. State Street Corp now owns 521,407 shares of the biopharmaceutical company’s stock valued at $66,990,000 after buying an additional 112,431 shares in the last quarter. Societe Generale acquired a new position in shares of Intercept Pharmaceuticals during the second quarter valued at approximately $1,697,000. Altrinsic Global Advisors LLC boosted its position in shares of Intercept Pharmaceuticals by 65.5% in the first quarter. Altrinsic Global Advisors LLC now owns 292,687 shares of the biopharmaceutical company’s stock valued at $37,601,000 after buying an additional 115,870 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Intercept Pharmaceuticals during the fourth quarter valued at approximately $18,351,000. 81.86% of the stock is currently owned by institutional investors.
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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