Intercept Pharmaceuticals Sees Significant Growth in Short Interest (ICPT)
Intercept Pharmaceuticals (NASDAQ:ICPT) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 740,868 shares, a growth of 34.0% from the April 30th total of 553,089 shares, Analyst Ratings Net reports. Based on an average trading volume of 383,148 shares, the days-to-cover ratio is currently 1.9 days. Approximately 5.7% of the company’s stock are sold short.
In other Intercept Pharmaceuticals news, CEO Mark Pruzanski sold 10,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $230.60, for a total value of $2,306,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on ICPT. Analysts at Summer Street initiated coverage on shares of Intercept Pharmaceuticals in a research note on Thursday, May 15th. They set a “buy” rating and a $650.00 price target on the stock. Separately, 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. Finally, analysts at Needham & Company LLC reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Monday, April 14th. Six research analysts have rated the stock with a buy rating, Intercept Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $585.67.
Intercept Pharmaceuticals (NASDAQ:ICPT) opened at 260.01 on Thursday. Intercept Pharmaceuticals has a 52-week low of $30.73 and a 52-week high of $497.00. The stock’s 50-day moving average is $251.4 and its 200-day moving average is $250.4. The company’s market cap is $5.483 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its earnings data 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 $-13.40 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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