Cantor Fitzgerald Comments on Intercept Pharmaceuticals, Inc.’s FY2017 Earnings (ICPT)
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) – Equities researchers at Cantor Fitzgerald raised their FY2017 earnings per share estimates for shares of Intercept Pharmaceuticals in a research note issued on Sunday. Cantor Fitzgerald analyst E. Piros now forecasts that the biopharmaceutical company will post earnings of ($13.30) per share for the year, up from their previous forecast of ($13.95). Cantor Fitzgerald has a “Neutral” rating and a $69.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Intercept Pharmaceuticals’ FY2018 earnings at ($13.50) EPS.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.48) by $0.59. Intercept Pharmaceuticals had a negative return on equity of 176.51% and a negative net margin of 344.74%. The business had revenue of $41.33 million for the quarter, compared to the consensus estimate of $36.95 million. During the same period in the prior year, the business earned ($3.59) EPS. The firm’s revenue for the quarter was up 697.9% on a year-over-year basis. TRADEMARK VIOLATION WARNING: This story was posted by Daily Political and is owned by of Daily Political. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.dailypolitical.com/2017/11/10/cantor-fitzgerald-comments-on-intercept-pharmaceuticals-inc-s-fy2017-earnings-icpt.html.
ICPT has been the topic of a number of other reports. Royal Bank Of Canada initiated coverage on Intercept Pharmaceuticals in a research note on Thursday, September 14th. They set an “outperform” rating and a $244.00 price target on the stock. Laidlaw dropped their price target on Intercept Pharmaceuticals from $118.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, September 22nd. BidaskClub raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Wedbush reaffirmed a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Monday, July 31st. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of Intercept Pharmaceuticals in a research note on Wednesday, September 13th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $153.76.
Intercept Pharmaceuticals (NASDAQ:ICPT) opened at $63.66 on Wednesday. Intercept Pharmaceuticals has a 52 week low of $54.98 and a 52 week high of $135.59. The company has a debt-to-equity ratio of 3.15, a current ratio of 5.95 and a quick ratio of 6.61.
A number of hedge funds and other institutional investors have recently made changes to their positions in ICPT. Balyasny Asset Management LLC bought a new position in Intercept Pharmaceuticals during the second quarter valued at $13,766,000. Vanguard Group Inc. grew its holdings in Intercept Pharmaceuticals by 4.5% during the second quarter. Vanguard Group Inc. now owns 1,328,133 shares of the biopharmaceutical company’s stock valued at $160,797,000 after purchasing an additional 57,149 shares during the period. State Street Corp grew its holdings in Intercept Pharmaceuticals by 7.3% during the first quarter. State Street Corp now owns 805,550 shares of the biopharmaceutical company’s stock valued at $91,110,000 after purchasing an additional 54,523 shares during the period. First Trust Advisors LP grew its holdings in Intercept Pharmaceuticals by 17.0% during the second quarter. First Trust Advisors LP now owns 287,411 shares of the biopharmaceutical company’s stock valued at $34,797,000 after purchasing an additional 41,856 shares during the period. Finally, Quantitative Investment Management LLC bought a new position in Intercept Pharmaceuticals during the second quarter valued at $3,728,000. 82.69% of the stock is owned by institutional investors and hedge funds.
In other Intercept Pharmaceuticals news, CEO Mark Pruzanski sold 1,532 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $58.87, for a total transaction of $90,188.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO David Shapiro sold 1,250 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $117.43, for a total value of $146,787.50. Following the transaction, the chief marketing officer now directly owns 45,812 shares of the company’s stock, valued at $5,379,703.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,069 shares of company stock valued at $325,974. 9.20% of the stock is owned by corporate insiders.
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.
Receive News & Ratings for Intercept Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercept Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.