Insider Selling: Luciano Adorini Unloads 2,000 Shares of Intercept Pharmaceuticals Stock (ICPT)
Intercept Pharmaceuticals (NASDAQ:ICPT) Insider Luciano Adorini unloaded 2,000 shares of Intercept Pharmaceuticals stock on the open market in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $283.90, for a total transaction of $567,800.00. Following the completion of the transaction, the insider now directly owns 7,041 shares in the company, valued at approximately $1,998,940. The transaction was disclosed in a document filed with the SEC, which is available at this link.
ICPT has been the subject of a number of recent research reports. Analysts at Needham & Company LLC raised their price target on shares of Intercept Pharmaceuticals from $320.00 to $500.00 in a research note on Tuesday, March 18th. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Intercept Pharmaceuticals from $360.00 to $525.00 in a research note on Friday, March 14th. They now have an “outperform” rating on the stock. Five investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $565.00.
Intercept Pharmaceuticals (NASDAQ:ICPT) traded up 2.85% on Wednesday, hitting $299.558. The stock had a trading volume of 387,286 shares. Intercept Pharmaceuticals has a 52-week low of $30.38 and a 52-week high of $497.00. The stock’s 50-day moving average is $381.0 and its 200-day moving average is $194.5. The company’s market cap is $5.847 billion. Intercept Pharmaceuticals also was the target of a significant decline in short interest in January. As of March 31st, there was short interest totalling 377,407 shares, a decline of 36.0% from the March 14th total of 589,440 shares. Based on an average daily trading volume, of 804,993 shares, the days-to-cover ratio is presently 0.5 days. Currently, 2.9% of the company’s stock are sold short.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its earnings data on Friday, March 14th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.06. During the same quarter in the previous year, the company posted ($2.02) earnings per share. Analysts expect that Intercept Pharmaceuticals will post $-3.04 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 diseases utilizing its bile acid chemistry.
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