Intercept Pharmaceuticals Inc (ICPT) Stock Rating Lowered by Citigroup Inc.
Intercept Pharmaceuticals Inc (NASDAQ:ICPT) was downgraded by Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued on Friday. They currently have a $92.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $150.00. Citigroup Inc.’s price objective indicates a potential upside of 49.37% from the stock’s previous close.
Several other research firms also recently issued reports on ICPT. Laidlaw reissued a “hold” rating and issued a $119.00 target price (up from $115.00) on shares of Intercept Pharmaceuticals in a research report on Tuesday, August 1st. Cowen and Company reissued an “outperform” rating and issued a $232.00 target price on shares of Intercept Pharmaceuticals in a research report on Thursday, September 14th. BMO Capital Markets upped their target price on Intercept Pharmaceuticals from $218.00 to $221.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. BidaskClub raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, Cantor Fitzgerald reissued an “underweight” rating and issued a $69.00 target price on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $174.93.
Shares of Intercept Pharmaceuticals (ICPT) opened at 61.59 on Friday. The company has a 50 day moving average price of $106.75 and a 200 day moving average price of $115.74. Intercept Pharmaceuticals has a one year low of $60.97 and a one year high of $172.95. The company’s market cap is $1.55 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.62) by $0.16. Intercept Pharmaceuticals had a negative return on equity of 169.39% and a negative net margin of 280.26%. 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 prior year, the firm earned ($3.14) EPS. The firm’s revenue was up 459.6% on a year-over-year basis. Equities analysts predict that Intercept Pharmaceuticals will post ($13.91) EPS for the current year.
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In other news, Director Daniel G. Welch sold 217 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $126.76, for a total transaction of $27,506.92. Following the sale, the director now directly owns 3,710 shares of the company’s stock, valued at approximately $470,279.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO David Shapiro sold 1,250 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $117.43, for a total transaction of $146,787.50. Following the sale, the chief marketing officer now directly owns 45,812 shares in the company, valued at $5,379,703.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,013 shares of company stock worth $6,198,747. Corporate insiders own 9.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of ICPT. WFG Advisors LP lifted its stake in Intercept Pharmaceuticals by 16.4% in the 2nd quarter. WFG Advisors LP now owns 888 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 125 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Intercept Pharmaceuticals by 14.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 132 shares in the last quarter. US Bancorp DE purchased a new position in Intercept Pharmaceuticals in the 1st quarter valued at about $130,000. IFP Advisors Inc lifted its stake in Intercept Pharmaceuticals by 128.1% in the 2nd quarter. IFP Advisors Inc now owns 1,300 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 730 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Intercept Pharmaceuticals in the 1st quarter valued at about $170,000. 82.19% of the stock is currently owned by hedge funds and other 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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