Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) Receives “Buy” Rating from Cowen and Company

Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT)‘s stock had its “buy” rating reiterated by equities researchers at Cowen and Company in a research note issued to investors on Wednesday, November 1st. They currently have a $112.00 price target on the biopharmaceutical company’s stock. Cowen and Company’s price objective would indicate a potential upside of 84.39% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Intercept Pharmaceuticals in a report on Wednesday, September 13th. Jefferies Group LLC started coverage on shares of Intercept Pharmaceuticals in a report on Monday, July 10th. They set a “buy” rating and a $275.00 price objective on the stock. Cantor Fitzgerald reiterated an “underweight” rating and set a $69.00 price target on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Bank of America Corporation decreased their price target on Intercept Pharmaceuticals from $102.00 to $73.00 and set an “underperform” rating on the stock in a research report on Friday, October 13th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $332.00 price target on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $144.41.

Intercept Pharmaceuticals (ICPT) opened at $60.74 on Wednesday. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 3.15. Intercept Pharmaceuticals has a fifty-two week low of $54.98 and a fifty-two week high of $135.59.

Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($3.48) by $0.59. The company had revenue of $41.33 million for the quarter, compared to the consensus estimate of $36.95 million. Intercept Pharmaceuticals had a negative net margin of 344.74% and a negative return on equity of 176.51%. The firm’s quarterly revenue was up 697.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($3.59) EPS. equities analysts expect that Intercept Pharmaceuticals will post -13.41 EPS for the current year.

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In related news, insider Lisa Bright sold 253 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $111.31, for a total value of $28,161.43. Following the completion of the sale, the insider now owns 23,324 shares of the company’s stock, valued at $2,596,194.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO David Shapiro sold 1,250 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $117.43, for a total value of $146,787.50. Following the completion of the transaction, the chief marketing officer now owns 45,812 shares of the company’s stock, valued at approximately $5,379,703.16. The disclosure for this sale can be found here. Insiders sold 4,069 shares of company stock valued at $325,974 in the last ninety days. 4.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Senvest Management LLC bought a new position in shares of Intercept Pharmaceuticals during the third quarter valued at $33,883,000. Balyasny Asset Management LLC bought a new position in shares of Intercept Pharmaceuticals during the second quarter valued at $13,766,000. Vanguard Group Inc. increased its holdings in shares of Intercept Pharmaceuticals by 4.5% during the second quarter. Vanguard Group Inc. now owns 1,328,133 shares of the biopharmaceutical company’s stock valued at $160,797,000 after acquiring an additional 57,149 shares in the last quarter. State Street Corp increased its holdings in shares of Intercept Pharmaceuticals by 7.3% during the first quarter. State Street Corp now owns 805,550 shares of the biopharmaceutical company’s stock valued at $91,110,000 after acquiring an additional 54,523 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Intercept Pharmaceuticals by 17.0% during the second quarter. First Trust Advisors LP now owns 287,411 shares of the biopharmaceutical company’s stock valued at $34,797,000 after acquiring an additional 41,856 shares in the last quarter. Institutional investors and hedge funds own 76.62% 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.

Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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