Seaport Global Securities Weighs in on Intercept Pharmaceuticals Inc’s FY2021 Earnings (ICPT)
Intercept Pharmaceuticals Inc (NASDAQ:ICPT) – Investment analysts at Seaport Global Securities lifted their FY2021 earnings per share estimates for Intercept Pharmaceuticals in a research report issued on Friday. Seaport Global Securities analyst V. Bernardino now expects that the biopharmaceutical company will post earnings per share of $2.85 for the year, up from their prior estimate of $2.76. Seaport Global Securities also issued estimates for Intercept Pharmaceuticals’ FY2022 earnings at $9.65 EPS.
Several other analysts have also weighed in on the company. Wedbush reissued a “buy” rating and set a $253.00 price objective on shares of Intercept Pharmaceuticals in a report on Friday, January 5th. Deutsche Bank initiated coverage on Intercept Pharmaceuticals in a research note on Tuesday, December 12th. They issued a “buy” rating and a $106.00 price target on the stock. Bank of America decreased their price target on Intercept Pharmaceuticals from $102.00 to $73.00 and set an “underperform” rating on the stock in a research note on Friday, October 13th. Goldman Sachs Group lowered Intercept Pharmaceuticals from a “neutral” rating to a “sell” rating in a research note on Wednesday. Finally, Zacks Investment Research raised Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $134.86.
Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc raised its position in Intercept Pharmaceuticals by 48.2% in the 3rd quarter. Legal & General Group Plc now owns 8,856 shares of the biopharmaceutical company’s stock valued at $514,000 after purchasing an additional 2,882 shares during the last quarter. Senvest Management LLC bought a new position in Intercept Pharmaceuticals in the 3rd quarter valued at $33,883,000. Vanguard Group Inc. raised its position in Intercept Pharmaceuticals by 4.5% in the 2nd 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 last quarter. Dynamic Technology Lab Private Ltd raised its position in Intercept Pharmaceuticals by 85.6% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 6,798 shares of the biopharmaceutical company’s stock valued at $824,000 after purchasing an additional 3,136 shares during the last quarter. Finally, Asymmetry Capital Management L.P. bought a new position in Intercept Pharmaceuticals in the 2nd quarter valued at $3,580,000. Hedge funds and other institutional investors own 74.37% of the company’s stock.
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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