Intercept Pharmaceuticals CMO David Shapiro Sells 4,000 Shares (ICPT)
Intercept Pharmaceuticals (NASDAQ:ICPT) CMO David Shapiro unloaded 4,000 shares of the stock on the open market in a transaction dated Monday, June 16th. The shares were sold at an average price of $278.15, for a total value of $1,112,600.00. Following the completion of the sale, the chief marketing officer now directly owns 14,440 shares of the company’s stock, valued at approximately $4,016,486. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
ICPT has been the subject of a number of recent research reports. 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 analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $585.67.
Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) traded up 1.60% during mid-day trading on Wednesday, hitting $284.99. 229,271 shares of the company’s stock traded hands. Intercept Pharmaceuticals has a one year low of $36.90 and a one year high of $497.00. The stock has a 50-day moving average of $257.3 and a 200-day moving average of $265.6. The company’s market cap is $6.010 billion. Intercept Pharmaceuticals also was the recipient of a significant growth in short interest during the month of May. As of May 30th, there was short interest totalling 965,776 shares, a growth of 30.4% from the May 15th total of 740,868 shares. Currently, 6.9% of the company’s stock are short sold. Based on an average daily trading volume, of 677,178 shares, the days-to-cover ratio is presently 1.4 days.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.59) earnings per share for the quarter, missing the analysts’ 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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