Wedbush Reaffirms Outperform Rating for Intercept Pharmaceuticals Inc. (ICPT)
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research note issued to investors on Monday. They currently have a $239.00 price target on the biopharmaceutical company’s stock. Wedbush’s target price would indicate a potential upside of 67.75% from the company’s current price.
ICPT has been the subject of a number of other research reports. Cantor Fitzgerald reiterated a “sell” rating and issued a $60.00 price target on shares of Intercept Pharmaceuticals in a report on Monday, August 8th. Vetr lowered Intercept Pharmaceuticals from a “sell” rating to a “strong sell” rating and set a $81.50 price target for the company. in a report on Monday, August 8th. Oppenheimer Holdings Inc. lowered their price target on Intercept Pharmaceuticals from $265.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, August 5th. JMP Securities reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a report on Thursday, August 18th. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $200.00 price target on shares of Intercept Pharmaceuticals in a report on Friday, August 5th. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $177.67.
Intercept Pharmaceuticals (NASDAQ:ICPT) traded down 4.14% during mid-day trading on Monday, hitting $136.57. The company’s stock had a trading volume of 171,603 shares. The company’s market cap is $3.38 billion. The firm’s 50-day moving average is $155.48 and its 200-day moving average is $151.28. Intercept Pharmaceuticals has a 12-month low of $89.76 and a 12-month high of $217.99.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/17/wedbush-reaffirms-outperform-rating-for-intercept-pharmaceuticals-inc-icpt-2.html
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($3.14) EPS for the quarter, beating analysts’ consensus estimates of ($3.69) by $0.55. The firm had revenue of $5.52 million for the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 1140.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.99) earnings per share. Analysts predict that Intercept Pharmaceuticals will post ($16.31) EPS for the current fiscal year.
In other Intercept Pharmaceuticals news, CMO David Shapiro sold 3,545 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $165.08, for a total transaction of $585,208.60. Following the sale, the chief marketing officer now directly owns 45,732 shares of the company’s stock, valued at approximately $7,549,438.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lisa Bright sold 246 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $159.00, for a total value of $39,114.00. Following the sale, the insider now directly owns 18,460 shares in the company, valued at $2,935,140. The disclosure for this sale can be found here. 9.20% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Context Capital Management LLC bought a new stake in shares of Intercept Pharmaceuticals during the second quarter valued at $2,650,000. JPMorgan Chase & Co. increased its stake in shares of Intercept Pharmaceuticals by 198.2% in the second quarter. JPMorgan Chase & Co. now owns 829,438 shares of the biopharmaceutical company’s stock valued at $118,345,000 after buying an additional 551,324 shares in the last quarter. Carmignac Gestion increased its stake in shares of Intercept Pharmaceuticals by 19.6% in the second quarter. Carmignac Gestion now owns 1,993,592 shares of the biopharmaceutical company’s stock valued at $284,446,000 after buying an additional 326,855 shares in the last quarter. Capital World Investors increased its stake in shares of Intercept Pharmaceuticals by 8.4% in the second quarter. Capital World Investors now owns 2,053,959 shares of the biopharmaceutical company’s stock valued at $293,059,000 after buying an additional 160,000 shares in the last quarter. Finally, Altrinsic Global Advisors LLC increased its stake in shares of Intercept Pharmaceuticals by 65.5% in the first quarter. Altrinsic Global Advisors LLC now owns 292,687 shares of the biopharmaceutical company’s stock valued at $37,601,000 after buying an additional 115,870 shares in the last quarter. 81.83% 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.
Receive News & Ratings for Intercept Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercept Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.