Intercept Pharmaceuticals Inc (ICPT) Position Raised by Tributary Capital Management LLC
Tributary Capital Management LLC increased its holdings in shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) by 33.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,000 shares of the biopharmaceutical company’s stock after purchasing an additional 3,000 shares during the period. Tributary Capital Management LLC’s holdings in Intercept Pharmaceuticals were worth $1,516,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in Intercept Pharmaceuticals by 17.5% in the second quarter. FMR LLC now owns 4,437,332 shares of the biopharmaceutical company’s stock valued at $372,336,000 after acquiring an additional 661,542 shares during the period. Northern Trust Corp grew its stake in Intercept Pharmaceuticals by 190.3% in the second quarter. Northern Trust Corp now owns 257,755 shares of the biopharmaceutical company’s stock valued at $21,629,000 after acquiring an additional 168,955 shares during the period. Millennium Management LLC grew its stake in Intercept Pharmaceuticals by 168.9% in the first quarter. Millennium Management LLC now owns 235,180 shares of the biopharmaceutical company’s stock valued at $14,468,000 after acquiring an additional 147,719 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Intercept Pharmaceuticals by 104.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 110,805 shares of the biopharmaceutical company’s stock valued at $9,298,000 after acquiring an additional 56,556 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in Intercept Pharmaceuticals in the second quarter valued at approximately $3,562,000. 69.38% of the stock is owned by institutional investors and hedge funds.
ICPT has been the subject of a number of research reports. Wedbush reissued a “buy” rating and issued a $203.00 price objective (down previously from $217.00) on shares of Intercept Pharmaceuticals in a research note on Friday, August 3rd. Royal Bank of Canada reissued a “buy” rating and issued a $115.00 price objective on shares of Intercept Pharmaceuticals in a research note on Friday, August 3rd. Goldman Sachs Group raised Intercept Pharmaceuticals from a “sell” rating to a “buy” rating and raised their price objective for the company from $46.00 to $157.00 in a research note on Monday, August 6th. Zacks Investment Research raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Tuesday, July 10th. Finally, Roth Capital assumed coverage on Intercept Pharmaceuticals in a research report on Wednesday, September 12th. They set a “buy” rating and a $192.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $139.88.
Shares of NASDAQ:ICPT opened at $104.73 on Thursday. The company has a market cap of $3.74 billion, a P/E ratio of -7.36 and a beta of -1.94. The company has a debt-to-equity ratio of 2.48, a quick ratio of 6.51 and a current ratio of 6.51. Intercept Pharmaceuticals Inc has a 12-month low of $51.05 and a 12-month high of $133.74.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($2.58) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.83) by $0.25. The company had revenue of $43.58 million for the quarter, compared to analysts’ expectations of $41.26 million. Intercept Pharmaceuticals had a negative return on equity of 614.15% and a negative net margin of 215.30%. Intercept Pharmaceuticals’s quarterly revenue was up 41.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($3.46) earnings per share. As a group, research analysts predict that Intercept Pharmaceuticals Inc will post -10.83 earnings per share for the current fiscal year.
Intercept Pharmaceuticals Profile
Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).
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