Intercept Pharmaceuticals, Inc. (ICPT) Given Outperform Rating at BMO Capital Markets
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT)‘s stock had its “outperform” rating reaffirmed by investment analysts at BMO Capital Markets in a note issued to investors on Friday. They currently have a $160.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $221.00. BMO Capital Markets’ price target points to a potential upside of 159.78% from the company’s current price.
Other research analysts also recently issued reports about the company. Cowen and Company reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Monday, June 12th. Credit Suisse Group set a $201.00 price objective on Intercept Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, June 3rd. BidaskClub upgraded Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Jefferies Group LLC restated a “buy” rating and issued a $275.00 price target on shares of Intercept Pharmaceuticals in a research note on Sunday, July 30th. Finally, Zacks Investment Research upgraded Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a research note on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Intercept Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $174.93.
Shares of Intercept Pharmaceuticals (NASDAQ ICPT) traded down 16.43% during midday trading on Friday, hitting $61.59. 11,875,646 shares of the stock were exchanged. The stock’s market cap is $1.55 billion. Intercept Pharmaceuticals has a 52-week low of $60.97 and a 52-week high of $172.95. The firm’s 50 day moving average price is $106.75 and its 200-day moving average price is $115.74.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.62) by $0.16. The company had revenue of $30.89 million during the quarter, compared to the consensus estimate of $27.50 million. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. The firm’s revenue was up 459.6% on a year-over-year basis. During the same period in the previous year, the company posted ($3.14) EPS. On average, equities research analysts expect that Intercept Pharmaceuticals will post ($13.91) earnings per share for the current fiscal year.
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In related news, Director Daniel G. Welch sold 602 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $123.93, for a total transaction of $74,605.86. Following the sale, the director now owns 3,108 shares in the company, valued at approximately $385,174.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel G. Welch sold 217 shares of the stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $126.76, for a total value of $27,506.92. Following the sale, the director now owns 3,710 shares in the company, valued at approximately $470,279.60. The disclosure for this sale can be found here. Insiders have sold a total of 48,013 shares of company stock worth $6,198,747 over the last ninety days. Insiders own 9.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Sphera Funds Management LTD. raised its holdings in Intercept Pharmaceuticals by 100.0% during the 2nd quarter. Sphera Funds Management LTD. now owns 30,000 shares of the biopharmaceutical company’s stock valued at $3,632,000 after buying an additional 15,000 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Intercept Pharmaceuticals by 9.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,152 shares of the biopharmaceutical company’s stock valued at $244,000 after buying an additional 178 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Intercept Pharmaceuticals during the 1st quarter valued at $414,000. Geode Capital Management LLC raised its holdings in Intercept Pharmaceuticals by 12.8% during the 1st quarter. Geode Capital Management LLC now owns 144,130 shares of the biopharmaceutical company’s stock valued at $16,301,000 after buying an additional 16,392 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Intercept Pharmaceuticals by 9.2% during the 1st quarter. Van ECK Associates Corp now owns 25,550 shares of the biopharmaceutical company’s stock valued at $2,890,000 after buying an additional 2,161 shares during the period. Institutional investors own 82.19% of the company’s stock.
Intercept Pharmaceuticals Company Profile
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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