Intercept Pharmaceuticals Inc. (ICPT) Trading Up 6.9%
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) was up 6.9% during mid-day trading on Tuesday . The stock traded as high as $169.00 and last traded at $167.50, with a volume of 825,819 shares changing hands. The stock had previously closed at $156.74.
Several equities research analysts recently issued reports on ICPT shares. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Wednesday, June 1st. Goldman Sachs Group Inc. raised their target price on shares of Intercept Pharmaceuticals from $114.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, May 31st. Laidlaw downgraded shares of Intercept Pharmaceuticals from a “buy” rating to a “sell” rating and cut their price objective for the stock from $345.00 to $105.00 in a research report on Friday, August 5th. Robert W. Baird restated an “outperform” rating and set a $332.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, June 1st. Finally, Wedbush restated an “outperform” rating and set a $239.00 price objective (down from $423.00) on shares of Intercept Pharmaceuticals in a research report on Tuesday, May 31st. Five analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $177.67.
The company has a 50-day moving average price of $158.02 and a 200 day moving average price of $146.79. The firm’s market cap is $4.10 billion.
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Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($3.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($3.69) by $0.55. The company had revenue of $5.52 million for the quarter, compared to analysts’ expectations of $1.72 million. Intercept Pharmaceuticals had a negative net margin of 5,003.95% and a negative return on equity of 50.58%. Intercept Pharmaceuticals’s revenue was up 1140.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.99) EPS. Equities research analysts forecast that Intercept Pharmaceuticals Inc. will post ($16.31) EPS for the current year.
In related news, insider Lisa Bright sold 246 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $159.00, for a total transaction of $39,114.00. Following the sale, the insider now directly owns 18,460 shares in the company, valued at approximately $2,935,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Pruzanski sold 714 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $145.11, for a total transaction of $103,608.54. The disclosure for this sale can be found here. Corporate insiders own 9.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in ICPT. Norges Bank purchased a new stake in Intercept Pharmaceuticals during the fourth quarter valued at about $18,351,000. Aperio Group LLC boosted its stake in Intercept Pharmaceuticals by 31.2% in the first quarter. Aperio Group LLC now owns 2,152 shares of the biopharmaceutical company’s stock valued at $276,000 after buying an additional 512 shares in the last quarter. BlackRock Inc. boosted its stake in Intercept Pharmaceuticals by 301.5% in the first quarter. BlackRock Inc. now owns 1,915 shares of the biopharmaceutical company’s stock valued at $246,000 after buying an additional 1,438 shares in the last quarter. BlackRock Group LTD boosted its stake in Intercept Pharmaceuticals by 20.1% in the first quarter. BlackRock Group LTD now owns 13,074 shares of the biopharmaceutical company’s stock valued at $1,680,000 after buying an additional 2,188 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Intercept Pharmaceuticals by 7.2% in the first quarter. BlackRock Fund Advisors now owns 467,272 shares of the biopharmaceutical company’s stock valued at $60,030,000 after buying an additional 31,289 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.
About Intercept Pharmaceuticals
Intercept Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat non-viral, progressive liver diseases. The Company’s product candidates have the potential to treat orphan and more prevalent diseases for which there are limited therapeutic solutions.
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