Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) had its price target cut by Bank of America Corporation from $102.00 to $73.00 in a research note released on Friday. They currently have an underperform rating on the biopharmaceutical company’s stock.
Other analysts also recently issued reports about the company. Citigroup Inc. reaffirmed a neutral rating and issued a $150.00 target price on shares of Intercept Pharmaceuticals in a research note on Tuesday, September 19th. BidaskClub raised Intercept Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, June 23rd. Laidlaw reaffirmed a hold rating and issued a $119.00 target price (up from $115.00) on shares of Intercept Pharmaceuticals in a research note on Tuesday, August 1st. UBS AG downgraded Intercept Pharmaceuticals from an outperform rating to a market perform rating in a research note on Friday, September 22nd. Finally, Oppenheimer Holdings, Inc. reaffirmed an outperform rating and issued a $200.00 target price on shares of Intercept Pharmaceuticals in a research note on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Intercept Pharmaceuticals presently has an average rating of Hold and an average price target of $153.76.
Shares of Intercept Pharmaceuticals (NASDAQ ICPT) opened at 67.37 on Friday. Intercept Pharmaceuticals has a 12 month low of $54.98 and a 12 month high of $147.52. The company has a 50-day moving average of $85.96 and a 200 day moving average of $108.58. The company’s market cap is $1.69 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.62) by $0.16. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. The business had revenue of $30.89 million during the quarter, compared to the consensus estimate of $27.50 million. During the same period last year, the company earned ($3.14) EPS. The company’s revenue for the quarter was up 459.6% on a year-over-year basis. On average, analysts anticipate that Intercept Pharmaceuticals will post ($13.99) earnings per share for the current year.
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In other Intercept Pharmaceuticals news, Director Daniel G. Welch sold 217 shares of Intercept Pharmaceuticals stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $126.76, for a total value of $27,506.92. Following the completion of the transaction, the director now directly owns 3,710 shares of the company’s stock, valued at approximately $470,279.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Pruzanski sold 1,532 shares of Intercept Pharmaceuticals stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $58.87, for a total value of $90,188.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,278 shares of company stock valued at $592,796. 4.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICPT. Balyasny Asset Management LLC acquired a new position in Intercept Pharmaceuticals in the 2nd quarter valued at about $13,766,000. Macquarie Group Ltd. boosted its stake in shares of Intercept Pharmaceuticals by 54.2% in the 1st quarter. Macquarie Group Ltd. now owns 241,565 shares of the biopharmaceutical company’s stock valued at $27,321,000 after buying an additional 84,954 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 57,149 shares during the period. State Street Corp boosted its stake in shares of Intercept Pharmaceuticals by 7.3% in the 1st quarter. State Street Corp now owns 805,550 shares of the biopharmaceutical company’s stock valued at $91,110,000 after buying an additional 54,523 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Intercept Pharmaceuticals by 17.0% in the 2nd quarter. First Trust Advisors LP now owns 287,411 shares of the biopharmaceutical company’s stock valued at $34,797,000 after buying an additional 41,856 shares during the period. 82.19% 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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