Intercept Pharmaceuticals Inc. (ICPT) Receives “Buy” Rating from Credit Suisse Group AG
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)‘s stock had its “buy” rating reaffirmed by equities researchers at Credit Suisse Group AG in a report released on Thursday.
A number of other research firms have also recently commented on ICPT. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Wednesday, June 1st. Goldman Sachs Group Inc. upped their price objective on shares of Intercept Pharmaceuticals from $114.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, May 31st. Laidlaw cut shares of Intercept Pharmaceuticals from a “buy” rating to a “sell” rating and lowered their price objective for the company from $345.00 to $105.00 in a research report on Friday, August 5th. Robert W. Baird restated an “outperform” rating and issued a $332.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, June 1st. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Tuesday, May 31st. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $177.67.
Intercept Pharmaceuticals (NASDAQ:ICPT) traded down 0.323% during trading on Thursday, hitting $168.235. The company had a trading volume of 114,912 shares. The stock’s market capitalization is $4.16 billion. Intercept Pharmaceuticals has a one year low of $89.76 and a one year high of $217.99. The stock 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 released its quarterly earnings data 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. Intercept Pharmaceuticals had a negative net margin of 5,003.95% and a negative return on equity of 50.58%. The business earned $5.52 million during the quarter, compared to analysts’ expectations of $1.72 million. During the same quarter in the prior year, the company earned ($1.99) EPS. The firm’s quarterly revenue was up 1140.4% on a year-over-year basis. On average, equities analysts anticipate that Intercept Pharmaceuticals will post ($16.31) EPS for the current year.
In related news, insider Lisa Bright sold 246 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $159.00, for a total value of $39,114.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Pruzanski sold 714 shares of the firm’s stock in a transaction dated 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. 9.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Macquarie Group Ltd. increased its stake in shares of Intercept Pharmaceuticals by 129.1% in the second quarter. Macquarie Group Ltd. now owns 22,690 shares of the biopharmaceutical company’s stock valued at $3,237,000 after buying an additional 12,788 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of Intercept Pharmaceuticals during the second quarter valued at about $384,000. Schwab Charles Investment Management Inc. increased its stake in shares of Intercept Pharmaceuticals by 19.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 56,429 shares of the biopharmaceutical company’s stock valued at $8,052,000 after buying an additional 9,112 shares during the period. Amalgamated Bank increased its stake in shares of Intercept Pharmaceuticals by 39.0% in the second quarter. Amalgamated Bank now owns 2,619 shares of the biopharmaceutical company’s stock valued at $413,000 after buying an additional 735 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Intercept Pharmaceuticals by 4.5% in the second quarter. Legal & General Group Plc now owns 1,196 shares of the biopharmaceutical company’s stock valued at $171,000 after buying an additional 52 shares during the period. 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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