Credit Suisse Group AG Reiterates “Buy” Rating for Intercept Pharmaceuticals Inc. (ICPT)
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)‘s stock had its “buy” rating reaffirmed by Credit Suisse Group AG in a research note issued on Thursday.
A number of other analysts have also weighed in on the company. Morgan Stanley restated a “sell” rating and issued a $80.00 target price on shares of Intercept Pharmaceuticals in a research note on Friday, August 5th. Goldman Sachs Group Inc. raised their target price on Intercept Pharmaceuticals from $114.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, May 31st. Wedbush restated an “outperform” rating and issued a $239.00 target price on shares of Intercept Pharmaceuticals in a research note on Friday, September 16th. Cantor Fitzgerald started coverage on Intercept Pharmaceuticals in a research note on Wednesday, July 6th. They issued a “sell” rating and a $58.00 target price for the company. Finally, Robert W. Baird restated an “outperform” rating and issued a $332.00 target price on shares of Intercept Pharmaceuticals in a research note on Wednesday, June 15th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $177.67.
Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) traded down 0.44% during trading on Thursday, hitting $168.03. The stock had a trading volume of 178,335 shares. The company’s market capitalization is $4.15 billion. Intercept Pharmaceuticals has a 1-year low of $89.76 and a 1-year high of $217.99. The firm has a 50 day moving average of $157.98 and a 200 day moving average of $147.27.
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Intercept Pharmaceuticals (NASDAQ:ICPT) last announced 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. Intercept Pharmaceuticals had a negative return on equity of 50.58% and a negative net margin of 5,003.95%. The company earned $5.52 million during the quarter, compared to analyst estimates of $1.72 million. During the same period last year, the company posted ($1.99) earnings per share. The firm’s quarterly revenue was up 1140.4% compared to the same quarter last year. Analysts expect that Intercept Pharmaceuticals will post ($16.31) EPS for the current fiscal year.
In other Intercept Pharmaceuticals news, CEO Mark Pruzanski sold 714 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $145.11, for a total transaction of $103,608.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lisa Bright sold 246 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. 9.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. CENTRAL TRUST Co bought a new position in Intercept Pharmaceuticals during the second quarter valued at $107,000. Legal & General Group Plc raised its position in Intercept Pharmaceuticals by 15.8% in the first quarter. Legal & General Group Plc now owns 1,144 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 156 shares during the period. Metropolitan Life Insurance Co. NY raised its position in 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 valued at $176,000 after buying an additional 38 shares during the period. Pacer Advisors Inc. bought a new position in Intercept Pharmaceuticals during the second quarter valued at $180,000. Finally, IBM Retirement Fund raised its position in Intercept Pharmaceuticals by 3.6% in the second quarter. IBM Retirement Fund now owns 1,657 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 58 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.
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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