Oppenheimer Lowers Intercept Pharmaceuticals Price Target to $499.00 (ICPT)
Equities researchers at Oppenheimer reduced their price target on shares of Intercept Pharmaceuticals (NASDAQ:ICPT) from $525.00 to $499.00 in a research report issued on Thursday, AnalystRatings.NET reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 115.79% from the stock’s previous close.
Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) traded down 9.13% during mid-day trading on Thursday, hitting $231.24. 524,302 shares of the company’s stock traded hands. Intercept Pharmaceuticals has a 52-week low of $30.55 and a 52-week high of $497.00. The stock has a 50-day moving average of $290.0 and a 200-day moving average of $222.5. The company’s market cap is $4.514 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by $0.87. Analysts expect that Intercept Pharmaceuticals will post $-2.97 EPS for the current fiscal year.
In other Intercept Pharmaceuticals news, CEO Mark Pruzanski sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $263.17, for a total value of $2,631,700.00. Following the completion of the sale, the chief executive officer now directly owns 470,174 shares of the company’s stock, valued at approximately $123,735,692. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company LLC reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Monday, April 14th. Five analysts have rated the stock with a buy rating, Intercept Pharmaceuticals has an average rating of “Buy” and an average target price of $572.80.
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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