Intercept Pharmaceuticals Inc. (ICPT) Trading Down 4.4% After Insider Selling
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)’s share price fell 4.4% on Wednesday following insider selling activity. The company traded as low as $145.10 and last traded at $145.17, with a volume of 341,088 shares. The stock had previously closed at $151.84.
Specifically, insider Lisa Bright sold 246 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $159.00, for a total transaction of $39,114.00. Following the transaction, the insider now owns 18,460 shares of the company’s stock, valued at $2,935,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO David Shapiro sold 3,545 shares of the company’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $165.08, for a total value of $585,208.60. Following the transaction, the chief marketing officer now directly owns 45,732 shares in the company, valued at approximately $7,549,438.56. The disclosure for this sale can be found here. 9.20% of the stock is owned by company insiders.
ICPT has been the topic of several research reports. Credit Suisse Group AG reaffirmed a “buy” rating and set a $200.00 price target on shares of Intercept Pharmaceuticals in a research note on Friday, August 5th. Wedbush reaffirmed a “buy” rating and set a $239.00 price target on shares of Intercept Pharmaceuticals in a research note on Saturday, July 9th. JMP Securities reaffirmed a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Thursday, August 18th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Wednesday, September 28th. Finally, FBR & Co reiterated a “market perform” rating and issued a $200.00 price objective 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 assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $177.67.
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The company’s 50-day moving average is $156.21 and its 200 day moving average is $151.20. The company’s market capitalization is $3.58 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($3.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.69) by $0.55. The firm 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%. The business’s quarterly revenue was up 1140.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.99) EPS. Equities analysts predict that Intercept Pharmaceuticals Inc. will post ($16.31) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in ICPT. CENTRAL TRUST Co acquired 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 4.5% in the second quarter. Legal & General Group Plc now owns 1,196 shares of the biopharmaceutical company’s stock worth $171,000 after buying an additional 52 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. acquired 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. 81.86% of the stock is currently owned by institutional investors.
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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