Intercept Pharmaceuticals, Inc. (ICPT) Shares Gap Down After Analyst Downgrade
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) gapped down before the market opened on Monday after UBS AG downgraded the stock from an outperform rating to a market perform rating. The stock had previously closed at $55.17, but opened at $61.59. Intercept Pharmaceuticals shares last traded at $62.63, with a volume of 4,941,154 shares.
ICPT has been the subject of several other research reports. Cantor Fitzgerald reiterated an “underweight” rating and issued a $69.00 target price (up previously from $60.00) on shares of Intercept Pharmaceuticals in a research report on Tuesday, August 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $221.00 target price on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $200.00 target price on shares of Intercept Pharmaceuticals in a research report on Thursday, September 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $275.00 target price on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 20th. Finally, Royal Bank Of Canada assumed coverage on Intercept Pharmaceuticals in a research report on Thursday, September 14th. They issued an “outperform” rating and a $244.00 target price for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Intercept Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $174.93.
In other Intercept Pharmaceuticals news, CEO Mark Pruzanski sold 1,434 shares of Intercept Pharmaceuticals stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $121.78, for a total transaction of $174,632.52. Following the sale, the chief executive officer now owns 570,284 shares of the company’s stock, valued at approximately $69,449,185.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lisa Bright sold 394 shares of Intercept Pharmaceuticals 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 sale, the insider now directly owns 23,619 shares in the company, valued at approximately $2,865,693.27. The disclosure for this sale can be found here. Insiders have sold a total of 8,013 shares of company stock worth $966,747 in the last ninety days. 4.50% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in ICPT. Teachers Advisors LLC raised its stake in Intercept Pharmaceuticals by 9.5% during the 4th quarter. Teachers Advisors LLC now owns 15,410 shares of the biopharmaceutical company’s stock valued at $1,674,000 after acquiring an additional 1,339 shares in the last quarter. US Bancorp DE bought a new stake in shares of Intercept Pharmaceuticals in the 1st quarter worth $130,000. Bank of New York Mellon Corp raised its stake in shares of Intercept Pharmaceuticals by 10.2% in the 1st quarter. Bank of New York Mellon Corp now owns 68,302 shares of the biopharmaceutical company’s stock worth $7,725,000 after buying an additional 6,312 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Intercept Pharmaceuticals by 24.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,006 shares of the biopharmaceutical company’s stock worth $566,000 after buying an additional 990 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Intercept Pharmaceuticals by 14.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 132 shares in the last quarter. 82.19% of the stock is currently owned by hedge funds and other institutional investors.
The company has a 50 day moving average price of $106.75 and a 200-day moving average price of $115.74. The stock’s market cap is $1.58 billion. Intercept Pharmaceuticals also was the target of unusually large options trading on Friday. Stock traders bought 5,053 call options on the company. This represents an increase of 548% compared to the typical daily volume of 780 call options.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data on Monday, July 31st. The biopharmaceutical company reported ($3.46) EPS for the quarter, beating the Zacks’ consensus estimate of ($3.62) by $0.16. The firm had revenue of $30.89 million for the quarter, compared to analyst estimates of $27.50 million. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. The business’s quarterly revenue was up 459.6% compared to the same quarter last year. During the same period last year, the company earned ($3.14) EPS. On average, analysts forecast that Intercept Pharmaceuticals, Inc. will post ($13.95) earnings per share for the current fiscal year.
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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