Falcon Point Capital LLC Sells 1,798 Shares of Intercept Pharmaceuticals, Inc. (ICPT)

Falcon Point Capital LLC reduced its stake in shares of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) by 4.0% during the second quarter, Holdings Channel reports. The firm owned 42,775 shares of the biopharmaceutical company’s stock after selling 1,798 shares during the period. Falcon Point Capital LLC’s holdings in Intercept Pharmaceuticals were worth $5,179,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Intercept Pharmaceuticals by 14.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 132 shares during the period. Pictet Asset Management Ltd. boosted its position in shares of Intercept Pharmaceuticals by 10.4% in the first quarter. Pictet Asset Management Ltd. now owns 106,663 shares of the biopharmaceutical company’s stock valued at $12,064,000 after buying an additional 10,031 shares during the period. Ray Gerald L & Associates Ltd. boosted its position in shares of Intercept Pharmaceuticals by 18.8% in the first quarter. Ray Gerald L & Associates Ltd. now owns 14,550 shares of the biopharmaceutical company’s stock valued at $1,646,000 after buying an additional 2,300 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Intercept Pharmaceuticals by 24.7% in the first quarter. BNP Paribas Arbitrage SA now owns 5,006 shares of the biopharmaceutical company’s stock valued at $566,000 after buying an additional 990 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Intercept Pharmaceuticals by 10.2% in the first quarter. Bank of New York Mellon Corp now owns 68,302 shares of the biopharmaceutical company’s stock valued at $7,725,000 after buying an additional 6,312 shares during the period. Institutional investors own 83.93% of the company’s stock.

Shares of Intercept Pharmaceuticals, Inc. (NASDAQ ICPT) opened at 103.19 on Friday. The company’s market cap is $2.59 billion. The firm’s 50-day moving average price is $120.81 and its 200 day moving average price is $117.78. Intercept Pharmaceuticals, Inc. has a 52 week low of $96.63 and a 52 week high of $172.95.

Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings data on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.62) by $0.16. The firm had revenue of $30.89 million during the quarter, compared to analyst estimates of $27.50 million. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. The business’s quarterly revenue was up 459.6% compared to the same quarter last year. During the same quarter last year, the business posted ($3.14) earnings per share. On average, equities research analysts forecast that Intercept Pharmaceuticals, Inc. will post ($14.05) EPS for the current year.

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Several brokerages have recently weighed in on ICPT. Jefferies Group LLC reiterated a “buy” rating and issued a $275.00 price target on shares of Intercept Pharmaceuticals in a research report on Sunday, July 30th. Wedbush reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Monday, July 31st. Cantor Fitzgerald reiterated an “underweight” rating and issued a $69.00 price target (up from $60.00) on shares of Intercept Pharmaceuticals in a research report on Monday, July 31st. BidaskClub upgraded Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Finally, Zacks Investment Research upgraded Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $203.67.

In other news, CEO Mark Pruzanski sold 40,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $130.80, for a total transaction of $5,232,000.00. Following the completion of the transaction, the chief executive officer now owns 611,718 shares in the company, valued at $80,012,714.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sandip Kapadia sold 1,431 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $121.59, for a total value of $173,995.29. Following the transaction, the chief financial officer now owns 20,569 shares of the company’s stock, valued at approximately $2,500,984.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,575 shares of company stock valued at $6,144,469. Company insiders own 9.20% 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.

Want to see what other hedge funds are holding ICPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT).

Institutional Ownership by Quarter for Intercept Pharmaceuticals (NASDAQ:ICPT)

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