Intercept Pharmaceuticals Inc. (ICPT) Stock Rating Reaffirmed by Wedbush
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a report issued on Friday. They presently have a $239.00 target price on the biopharmaceutical company’s stock. Wedbush’s price target indicates a potential upside of 55.69% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Wells Fargo & Co. reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a report on Wednesday, September 28th. 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 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 report on Thursday, September 22nd. BMO Capital Markets restated an “outperform” rating and set a $218.00 price objective (down previously from $219.00) on shares of Intercept Pharmaceuticals in a report on Friday, August 5th. Finally, JMP Securities restated a “buy” rating on shares of Intercept Pharmaceuticals in a report on Thursday, August 18th. 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’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $177.67.
Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) traded down 0.78% during trading on Friday, hitting $152.31. The stock had a trading volume of 239,822 shares. Intercept Pharmaceuticals has a 12-month low of $89.76 and a 12-month high of $217.99. The stock’s 50-day moving average is $158.07 and its 200-day moving average is $150.46. The stock’s market capitalization is $3.77 billion.
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Intercept Pharmaceuticals (NASDAQ:ICPT) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($3.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.69) by $0.55. The business had revenue of $5.52 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 1140.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.99) earnings per share. Analysts predict that Intercept Pharmaceuticals will post ($16.31) EPS for the current fiscal year.
In related news, CMO David Shapiro sold 3,545 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $165.08, for a total value of $585,208.60. Following the completion of the sale, the chief marketing officer now directly owns 45,732 shares in the company, valued at $7,549,438.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa Bright sold 246 shares of the stock in a transaction on 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 owns 18,460 shares of the company’s stock, valued at $2,935,140. The disclosure for this sale can be found here. Insiders own 9.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ICPT. Mizuho Securities USA Inc. bought a new stake in Intercept Pharmaceuticals during the second quarter worth $984,000. Bellevue Group AG bought a new stake in Intercept Pharmaceuticals during the first quarter worth $1,734,000. Jacobs Levy Equity Management Inc. bought a new stake in Intercept Pharmaceuticals during the first quarter worth $1,675,000. Legal & General Group Plc increased its stake 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 worth $147,000 after buying an additional 156 shares during the last quarter. Finally, National Planning Corp increased its stake in Intercept Pharmaceuticals by 92.7% in the first quarter. National Planning Corp now owns 50,510 shares of the biopharmaceutical company’s stock worth $6,735,000 after buying an additional 24,305 shares during the last quarter. Institutional investors and hedge funds 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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