Wedbush Reaffirms Outperform Rating for Intercept Pharmaceuticals Inc. (ICPT)
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)‘s stock had its “outperform” rating reiterated by Wedbush in a note issued to investors on Monday. They currently have a $239.00 price target on the biopharmaceutical company’s stock. Wedbush’s target price indicates a potential upside of 67.75% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Co. restated a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 28th. Credit Suisse Group AG restated a “buy” rating and set a $200.00 price objective on shares of Intercept Pharmaceuticals in a research report on Friday, August 5th. JMP Securities restated a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Thursday, August 18th. FBR & Co restated a “market perform” rating and set a $200.00 price objective on shares of Intercept Pharmaceuticals in a research report on Thursday, August 18th. Finally, BMO Capital Markets restated an “outperform” rating and set a $218.00 price objective (down from $219.00) on shares of Intercept Pharmaceuticals in a research report on Friday, August 5th. Five research 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. The stock has an average rating of “Hold” and an average price target of $177.67.
Intercept Pharmaceuticals (NASDAQ:ICPT) traded down 4.0456% on Monday, hitting $136.7063. 149,055 shares of the company traded hands. The firm’s market capitalization is $3.38 billion. 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 $155.48 and its 200 day moving average is $151.28.
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 https://www.americanbankingnews.com/2016/10/17/wedbush-reaffirms-outperform-rating-for-intercept-pharmaceuticals-inc-icpt.html
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($3.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm earned $5.52 million during the quarter, compared to analysts’ expectations of $1.72 million. During the same period last year, the business earned ($1.99) earnings per share. Intercept Pharmaceuticals’s revenue was up 1140.4% compared to the same quarter last year. Equities analysts forecast that Intercept Pharmaceuticals will post ($16.31) EPS for the current fiscal year.
In other news, CMO David Shapiro sold 411 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $153.34, for a total transaction of $63,022.74. Following the completion of the sale, the chief marketing officer now owns 44,272 shares in the company, valued at approximately $6,788,668.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $39,114.00. Following the sale, the insider now owns 18,460 shares of the company’s stock, valued at approximately $2,935,140. The disclosure for this sale can be found here. 9.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of ICPT. CenturyLink Investment Management Co bought a new stake in shares of Intercept Pharmaceuticals during the third quarter valued at $626,000. Creative Planning increased its stake in shares of Intercept Pharmaceuticals by 72.7% in the third quarter. Creative Planning now owns 4,735 shares of the biopharmaceutical company’s stock valued at $779,000 after buying an additional 1,994 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Intercept Pharmaceuticals by 6.5% in the third quarter. BNP Paribas Arbitrage SA now owns 4,368 shares of the biopharmaceutical company’s stock valued at $719,000 after buying an additional 267 shares in the last quarter. 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 in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Intercept Pharmaceuticals during the second quarter valued at $384,000. Institutional investors and hedge funds own 81.83% 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.
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.