Intercept Pharmaceuticals, Inc. (ICPT) Given Buy Rating at Wedbush
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT)‘s stock had its “buy” rating reissued by stock analysts at Wedbush in a note issued to investors on Monday. They presently have a $253.00 price objective on the biopharmaceutical company’s stock. Wedbush’s price objective would indicate a potential upside of 316.60% from the stock’s previous close.
ICPT has been the subject of a number of other research reports. Laidlaw reiterated a “hold” rating and issued a $119.00 price target (up previously from $115.00) on shares of Intercept Pharmaceuticals in a research note on Tuesday, August 1st. Cowen and Company reaffirmed an “outperform” rating and issued a $232.00 target price on shares of Intercept Pharmaceuticals in a report on Thursday, September 14th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $79.00 target price on shares of Intercept Pharmaceuticals in a report on Friday, October 6th. BMO Capital Markets boosted their price objective on shares of Intercept Pharmaceuticals from $218.00 to $221.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Finally, BidaskClub raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $144.41.
Shares of Intercept Pharmaceuticals (ICPT) opened at $60.73 on Monday. Intercept Pharmaceuticals has a 12-month low of $54.98 and a 12-month high of $135.59. The company has a debt-to-equity ratio of 3.15, a quick ratio of 5.95 and a current ratio of 5.95.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.48) by $0.59. The company had revenue of $41.33 million during the quarter, compared to analyst estimates of $36.95 million. Intercept Pharmaceuticals had a negative net margin of 344.74% and a negative return on equity of 176.51%. Intercept Pharmaceuticals’s revenue was up 697.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.59) earnings per share. sell-side analysts forecast that Intercept Pharmaceuticals will post -13.41 EPS for the current fiscal year.
In other news, insider Lisa Bright sold 253 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $111.31, for a total transaction of $28,161.43. Following the completion of the transaction, the insider now owns 23,324 shares of the company’s stock, valued at approximately $2,596,194.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Pruzanski sold 1,532 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $58.87, for a total transaction of $90,188.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,069 shares of company stock valued at $325,974. Corporate insiders own 4.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ICPT. Teachers Advisors LLC increased its stake in shares of Intercept Pharmaceuticals by 3.0% during the 1st quarter. Teachers Advisors LLC now owns 15,871 shares of the biopharmaceutical company’s stock valued at $1,795,000 after acquiring an additional 461 shares during the last quarter. Legal & General Group Plc increased its position in Intercept Pharmaceuticals by 196.6% during the 1st quarter. Legal & General Group Plc now owns 5,413 shares of the biopharmaceutical company’s stock worth $612,000 after purchasing an additional 3,588 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Intercept Pharmaceuticals by 9.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 64,303 shares of the biopharmaceutical company’s stock worth $7,273,000 after purchasing an additional 5,355 shares in the last quarter. Aperio Group LLC acquired a new stake in Intercept Pharmaceuticals during the 2nd quarter worth approximately $212,000. Finally, ING Groep NV increased its position in Intercept Pharmaceuticals by 323.7% during the 2nd quarter. ING Groep NV now owns 10,169 shares of the biopharmaceutical company’s stock worth $1,231,000 after purchasing an additional 7,769 shares in the last quarter. 76.62% of the stock is owned by 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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