Summer Street Initiates Coverage on Intercept Pharmaceuticals (ICPT)
Investment analysts at Summer Street began coverage on shares of Intercept Pharmaceuticals (NASDAQ:ICPT) in a note issued to investors on Thursday, Analyst Ratings.Net reports. The firm set a “buy” rating and a $650.00 price target on the stock. Summer Street’s price objective would suggest a potential upside of 139.91% from the stock’s previous close.
Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) opened at 270.94 on Thursday. Intercept Pharmaceuticals has a 1-year low of $30.73 and a 1-year high of $497.00. The stock has a 50-day moving average of $275.4 and a 200-day moving average of $229.5. The company’s market cap is $5.288 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results on Wednesday, May 7th. The company reported ($1.59) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.72) by $0.87. On average, analysts predict that Intercept Pharmaceuticals will post $-14.89 earnings per share for the current fiscal year.
In other Intercept Pharmaceuticals news, Director Lorenzo Tallarigo sold 2,007 shares of Intercept Pharmaceuticals stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $254.68, for a total transaction of $511,142.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on ICPT. Analysts at Oppenheimer cut their price target on shares of Intercept Pharmaceuticals from $525.00 to $499.00 in a research note on Thursday, May 8th. They now have an “outperform” rating on the stock. Separately, analysts at Needham & Company LLC reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Monday, April 14th. Finally, 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. Six analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $585.67.
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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