Royal Bank of Canada Trims Intercept Pharmaceuticals (NASDAQ:ICPT) Target Price to $134.00

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Intercept Pharmaceuticals (NASDAQ:ICPT) had its target price trimmed by Royal Bank of Canada from $135.00 to $134.00 in a report published on Wednesday morning, Stock Target Advisor reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.

Several other research firms also recently issued reports on ICPT. Citigroup raised Intercept Pharmaceuticals from a neutral rating to a buy rating and dropped their price target for the company from $106.00 to $85.00 in a research note on Wednesday, September 4th. Cantor Fitzgerald lowered their target price on Intercept Pharmaceuticals from $191.00 to $186.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. Zacks Investment Research downgraded Intercept Pharmaceuticals from a buy rating to a hold rating and set a $63.00 target price on the stock. in a research report on Monday, October 14th. Oppenheimer lowered their target price on Intercept Pharmaceuticals from $170.00 to $160.00 and set an outperform rating on the stock in a research report on Tuesday, August 6th. Finally, ValuEngine raised Intercept Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Intercept Pharmaceuticals currently has a consensus rating of Buy and an average price target of $127.55.

Intercept Pharmaceuticals stock traded up $1.90 during trading hours on Wednesday, hitting $82.76. The stock had a trading volume of 450,200 shares, compared to its average volume of 744,833. The company has a 50-day moving average of $67.76 and a two-hundred day moving average of $73.43. The company has a quick ratio of 6.54, a current ratio of 6.54 and a debt-to-equity ratio of 3.11. The company has a market cap of $2.44 billion, a PE ratio of -7.62 and a beta of 1.16. Intercept Pharmaceuticals has a fifty-two week low of $56.76 and a fifty-two week high of $131.87.

Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($2.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.35) by ($0.24). Intercept Pharmaceuticals had a negative return on equity of 720.28% and a negative net margin of 143.09%. The business had revenue of $61.95 million for the quarter, compared to the consensus estimate of $63.89 million. During the same quarter in the prior year, the firm posted ($2.18) earnings per share. The business’s revenue was up 31.8% on a year-over-year basis. As a group, analysts forecast that Intercept Pharmaceuticals will post -9.89 EPS for the current fiscal year.

In related news, insider David A. Ford sold 800 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.00, for a total value of $56,000.00. Following the completion of the sale, the insider now directly owns 11,546 shares in the company, valued at $808,220. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Lisa Bright sold 595 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $75.00, for a total value of $44,625.00. Following the completion of the sale, the insider now owns 18,732 shares of the company’s stock, valued at $1,404,900. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,453 shares of company stock valued at $104,685. 5.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ICPT. Campbell & CO Investment Adviser LLC acquired a new position in Intercept Pharmaceuticals during the second quarter valued at approximately $412,000. Rothschild Investment Corp IL acquired a new stake in shares of Intercept Pharmaceuticals in the 2nd quarter worth about $223,000. Exane Derivatives raised its holdings in shares of Intercept Pharmaceuticals by 63,016.7% in the 2nd quarter. Exane Derivatives now owns 3,787 shares of the biopharmaceutical company’s stock worth $301,000 after acquiring an additional 3,781 shares during the last quarter. AdvisorNet Financial Inc acquired a new stake in shares of Intercept Pharmaceuticals in the 2nd quarter worth about $56,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Intercept Pharmaceuticals in the 2nd quarter worth about $326,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

About Intercept Pharmaceuticals

Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases. It markets Ocaliva, an farnesoid X receptor agonist approved in the United States, the European Union, and other jurisdictions for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid in adults.

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