Intercept Pharmaceuticals Short Interest Down 25.1% in August (ICPT)
Intercept Pharmaceuticals (NASDAQ:ICPT) was the recipient of a significant drop in short interest in August. As of August 15th, there was short interest totalling 595,961 shares, a drop of 25.1% from the July 31st total of 795,445 shares, Analyst Ratings.Net reports. Based on an average daily trading volume, of 1,067,623 shares, the short-interest ratio is currently 0.6 days. Currently, 4.2% of the shares of the stock are sold short.
In other Intercept Pharmaceuticals news, CEO Mark Pruzanski unloaded 10,000 shares of the stock on the open market in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $286.49, for a total transaction of $2,864,900.00. The sale was disclosed in a legal 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 FBR Capital Markets initiated coverage on shares of Intercept Pharmaceuticals in a research note on Friday, August 15th. They set an “underperform” rating and a $172.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Intercept Pharmaceuticals to a “hold” rating in a research note on Thursday, August 14th. Finally, analysts at Nomura upgraded shares of Intercept Pharmaceuticals to a “positive” rating in a research note on Tuesday, August 12th. They now have a $456.00 price target on the stock, up previously from $323.00. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Intercept Pharmaceuticals presently has an average rating of “Buy” and an average price target of $472.91.
Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) opened at 286.70 on Friday. Intercept Pharmaceuticals has a 52-week low of $45.55 and a 52-week high of $497.00. The stock’s 50-day moving average is $257.1 and its 200-day moving average is $288.1. The company’s market cap is $6.083 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.79) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.12) by $0.67. The company had revenue of $405.40 million for the quarter, compared to the consensus estimate of $400.00 million. Analysts expect that Intercept Pharmaceuticals will post $-13.34 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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