Zacks Investment Research lowered shares of Intercept Pharmaceuticals (NASDAQ:ICPT) from a buy rating to a hold rating in a research report report published on Friday morning.

According to Zacks, “Intercept’s third-quarter results were encouraging, with the company beating on both top and bottom-lines. Sales had earlier taken a hit due to the safety issues regarding Ocaliva. Nevertheless, management’s efforts to increase awareness about the updated level and promote Ocaliva, thereafter, is reaping results. Solid growth in new patient enrollment should lead to stronger sales in the fourth quarter. Moreover, the company is looking to expand the drug’s label in the promising NASH space. Results from the REGENERATE trial are expected in the first half of 2018 for the NASH indication. However, we are also concerned about the lack of other late-stage candidates in the company’s pipeline. Shares have outperformed the industry in the year so far.”

ICPT has been the topic of a number of other reports. Wedbush set a $220.00 price target on shares of Intercept Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, November 6th. Cantor Fitzgerald restated an overweight rating and issued a $170.00 price target on shares of Intercept Pharmaceuticals in a report on Monday, October 1st. Roth Capital initiated coverage on shares of Intercept Pharmaceuticals in a report on Wednesday, September 12th. They issued a buy rating and a $192.00 price target on the stock. Goldman Sachs Group upgraded shares of Intercept Pharmaceuticals from a sell rating to a buy rating and upped their price target for the stock from $46.00 to $157.00 in a report on Monday, August 6th. Finally, BidaskClub upgraded shares of Intercept Pharmaceuticals from a buy rating to a strong-buy rating in a report on Tuesday, October 2nd. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $142.88.

NASDAQ ICPT opened at $103.83 on Friday. The company has a current ratio of 5.98, a quick ratio of 5.98 and a debt-to-equity ratio of 3.83. The stock has a market capitalization of $3.05 billion, a PE ratio of -7.22 and a beta of -1.08. Intercept Pharmaceuticals has a 12 month low of $51.05 and a 12 month high of $133.74.

Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings results on Wednesday, October 31st. The biopharmaceutical company reported ($2.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($2.65) by $0.47. The firm had revenue of $47.00 million for the quarter, compared to analysts’ expectations of $48.24 million. Intercept Pharmaceuticals had a negative net margin of 202.93% and a negative return on equity of 645.54%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted ($2.89) earnings per share. As a group, equities research analysts anticipate that Intercept Pharmaceuticals will post -10 earnings per share for the current year.

In other Intercept Pharmaceuticals news, CEO Mark Pruzanski sold 50,000 shares of the stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $101.07, for a total transaction of $5,053,500.00. Following the transaction, the chief executive officer now directly owns 589,199 shares in the company, valued at approximately $59,550,342.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Shapiro sold 2,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $96.32, for a total transaction of $192,640.00. Following the transaction, the insider now owns 41,152 shares in the company, valued at $3,963,760.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,101 shares of company stock worth $6,230,628. 4.90% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Strs Ohio bought a new position in Intercept Pharmaceuticals during the 3rd quarter worth about $126,000. Chicago Equity Partners LLC bought a new stake in shares of Intercept Pharmaceuticals in the 3rd quarter valued at about $215,000. GWM Advisors LLC bought a new stake in shares of Intercept Pharmaceuticals in the 3rd quarter valued at about $220,000. Tocqueville Asset Management L.P. bought a new stake in shares of Intercept Pharmaceuticals in the 2nd quarter valued at about $252,000. Finally, Sheaff Brock Investment Advisors LLC bought a new stake in shares of Intercept Pharmaceuticals in the 2nd quarter valued at about $264,000. Institutional investors own 63.20% of the company’s stock.

Intercept Pharmaceuticals Company 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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