Intercept Pharmaceuticals Given “Buy” Rating at Citigroup Inc. (ICPT)
Intercept Pharmaceuticals (NASDAQ:ICPT)‘s stock had its “buy” rating reaffirmed by Citigroup Inc. in a research note issued on Friday, Analyst Ratings Network.com reports. They currently have a $400.00 price objective on the stock, up from their previous price objective of $60.00. Citigroup Inc.’s target price points to a potential upside of 45.00% from the stock’s previous close.
The analysts wrote, “It is estimated ~10-15% of the US population has some level of early stages of NASH (non-alcoholic steatohepatitis/liver fibrosis) and ~6M (in the US alone) of these have a more advanced form of NASH preceding liver cirrhosis,” the report noted. “NASH is becoming recognized as a leading cause of liver transplants in the western world. There are no approved drugs for treatment, and OCA is the first agent to show a benefit here and is now positioned to establish itself as the standard of care. Also liver fibrosis has long been a target for large pharma/biotech and the scarcity of other drugs makes ICPT an attractive acquisition target.”
A number of other firms have also recently commented on ICPT. Analysts at Bank of America Corp. raised their price target on shares of Intercept Pharmaceuticals from $81.00 to $872.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Analysts at BMO Capital Markets raised their price target on shares of Intercept Pharmaceuticals to $270.00 in a research note to investors on Thursday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $369.86.
In other Intercept Pharmaceuticals news, Insider Luciano Adorini unloaded 1,634 shares of the stock on the open market in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $67.41, for a total transaction of $110,147.94. Following the transaction, the insider now directly owns 6,392 shares in the company, valued at approximately $430,885. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Intercept Pharmaceuticals (NASDAQ:ICPT) traded up 61.61% during mid-day trading on Friday, hitting $445.83. 5,745,902 shares of the company’s stock traded hands. Intercept Pharmaceuticals has a 1-year low of $30.38 and a 1-year high of $305.00. The stock’s 50-day moving average is $66.99 and its 200-day moving average is $55.33. The company’s market cap is $8.620 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings results on Thursday, November 14th. The company reported ($1.65) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.51) by $1.14. During the same quarter in the prior year, the company posted ($1.86) earnings per share. Analysts expect that Intercept Pharmaceuticals will post $-3.45 EPS for the current fiscal year.
Intercept Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapeutics to treat chronic liver disease.
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