Intercept Pharmaceuticals Inc. (ICPT) Shares Down 3.6%
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)’s share price traded down 3.6% during mid-day trading on Wednesday . The stock traded as low as $161.62 and last traded at $163.89, with a volume of 458,357 shares trading hands. The stock had previously closed at $170.01.
Several equities analysts have recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $239.00 target price on shares of Intercept Pharmaceuticals in a research note on Monday, August 22nd. JMP Securities reissued a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Thursday, August 18th. FBR & Co reissued a “market perform” rating and set a $200.00 target price on shares of Intercept Pharmaceuticals in a research note on Thursday, August 18th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $200.00 price target on shares of Intercept Pharmaceuticals in a research note on Friday, August 5th. Finally, Laidlaw cut Intercept Pharmaceuticals from a “buy” rating to a “sell” rating and reduced their price target for the stock from $345.00 to $105.00 in a research note on Friday, August 5th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $177.67.
The firm’s 50-day moving average price is $158.03 and its 200-day moving average price is $147.11. The stock’s market cap is $4.17 billion.
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Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($3.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.69) by $0.55. The business earned $5.52 million during the quarter, compared to analyst estimates of $1.72 million. Intercept Pharmaceuticals had a negative return on equity of 50.58% and a negative net margin of 5,003.95%. Intercept Pharmaceuticals’s revenue was up 1140.4% on a year-over-year basis. During the same period in the previous year, the company posted ($1.99) EPS. On average, analysts forecast that Intercept Pharmaceuticals Inc. will post ($16.31) EPS for the current year.
In other news, insider Lisa Bright sold 246 shares of Intercept Pharmaceuticals stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $159.00, for a total value of $39,114.00. Following the transaction, the insider now directly owns 18,460 shares in the company, valued at approximately $2,935,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Pruzanski sold 714 shares of Intercept Pharmaceuticals stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $145.11, for a total value of $103,608.54. The disclosure for this sale can be found here. Company insiders own 9.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. CENTRAL TRUST Co bought a new position in shares of Intercept Pharmaceuticals during the second quarter worth about $107,000. Legal & General Group Plc increased its position in shares of Intercept Pharmaceuticals by 15.8% in the first quarter. Legal & General Group Plc now owns 1,144 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 156 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Intercept Pharmaceuticals by 3.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 1,234 shares of the biopharmaceutical company’s stock worth $176,000 after buying an additional 38 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Intercept Pharmaceuticals during the second quarter worth about $180,000. Finally, IBM Retirement Fund increased its position in shares of Intercept Pharmaceuticals by 3.6% in the second quarter. IBM Retirement Fund now owns 1,657 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.
Intercept Pharmaceuticals Company Profile
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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