Intercept Pharmaceuticals, Inc. (ICPT) Reaches New 52-Week Low at $87.95
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $87.95 and last traded at $87.97, with a volume of 1,528,643 shares. The stock had previously closed at $90.75.
ICPT has been the topic of several analyst reports. Wedbush restated an “outperform” rating and set a $231.00 price target on shares of Intercept Pharmaceuticals in a research note on Friday, May 26th. ValuEngine upgraded shares of Intercept Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Credit Suisse Group set a $201.00 price target on shares of Intercept Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Cowen and Company restated a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Monday, June 12th. Finally, BidaskClub upgraded shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $207.75.
The company’s market capitalization is $2.38 billion. The firm’s 50 day moving average price is $108.47 and its 200 day moving average price is $116.36.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings data on Monday, July 31st. The biopharmaceutical company reported ($3.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.62) by $0.16. Intercept Pharmaceuticals had a negative net margin of 543.35% and a negative return on equity of 135.24%. The firm had revenue of $30.89 million for the quarter, compared to the consensus estimate of $27.50 million. During the same period in the previous year, the company earned ($3.14) earnings per share. The company’s quarterly revenue was up 459.6% on a year-over-year basis. On average, analysts predict that Intercept Pharmaceuticals, Inc. will post ($14.06) earnings per share for the current year.
In other Intercept Pharmaceuticals news, insider Lisa Bright sold 394 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $121.33, for a total value of $47,804.02. Following the transaction, the insider now directly owns 23,619 shares in the company, valued at $2,865,693.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Pruzanski sold 40,000 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $130.80, for a total transaction of $5,232,000.00. Following the completion of the transaction, the chief executive officer now owns 611,718 shares in the company, valued at $80,012,714.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,013 shares of company stock worth $6,198,747. Corporate insiders own 9.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. WFG Advisors LP increased its holdings in shares of Intercept Pharmaceuticals by 16.4% in the second quarter. WFG Advisors LP now owns 888 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 125 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Intercept Pharmaceuticals by 85.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 6,798 shares of the biopharmaceutical company’s stock valued at $824,000 after purchasing an additional 3,136 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Intercept Pharmaceuticals by 15.0% in the second quarter. Public Employees Retirement System of Ohio now owns 7,385 shares of the biopharmaceutical company’s stock valued at $894,000 after purchasing an additional 965 shares during the last quarter. Asymmetry Capital Management L.P. acquired a new position in shares of Intercept Pharmaceuticals in the second quarter valued at $3,580,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Intercept Pharmaceuticals in the second quarter valued at $366,000. Hedge funds and other institutional investors own 82.19% of the company’s stock.
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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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