Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) Stock Rating Upgraded by Zacks Investment Research
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $136.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 8.80% from the stock’s current price.
According to Zacks, “Intercept received a boost with the approval of Ocaliva in 2016 and the initial uptake of the same has been encouraging. The drug’s sale is expected to pick up further in 2017. The PBC market holds strong potential. We are also encouraged by Intercept’s efforts to develop the drug for additional indications. A potential label expansion of the drug will further boost sales. The company does not expect much contribution from international markets in 2017 and most of it will be loaded in the second half as it works to obtain reimbursements in various European countries. However, expenses are expected to continue to rise as the company invests in commercial activities related to Ocaliva. We also remain concerned about the lack of other late-stage candidates in Intercept’s pipeline. Moreover, the company’s share underperformed the industry in the last one year.”
Several other equities analysts also recently weighed in on the stock. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating on shares of Intercept Pharmaceuticals in a report on Wednesday, April 12th. Credit Suisse Group lifted their price target on shares of Intercept Pharmaceuticals from $198.00 to $201.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Wedbush reaffirmed an “outperform” rating and set a $224.00 price target on shares of Intercept Pharmaceuticals in a report on Friday, March 17th. Laidlaw raised shares of Intercept Pharmaceuticals from a “sell” rating to a “hold” rating and set a $115.00 price target on the stock in a report on Friday, May 5th. Finally, Cantor Fitzgerald set a $60.00 price target on shares of Intercept Pharmaceuticals and gave the company a “sell” rating in a report on Thursday, May 4th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $196.73.
Shares of Intercept Pharmaceuticals (ICPT) traded up 3.28% during mid-day trading on Tuesday, hitting $125.00. 500,960 shares of the company were exchanged. Intercept Pharmaceuticals has a 52 week low of $96.63 and a 52 week high of $177.93. The company has a 50 day moving average of $119.14 and a 200 day moving average of $115.33. The company’s market capitalization is $3.13 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($3.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.27) by $0.66. The company had revenue of $21 million during the quarter, compared to analyst estimates of $15.88 million. Intercept Pharmaceuticals had a negative net margin of 825.58% and a negative return on equity of 116.30%. The firm’s quarterly revenue was up 4566.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($5.17) earnings per share. Equities analysts anticipate that Intercept Pharmaceuticals will post ($14.50) earnings per share for the current year.
In related news, CMO David Shapiro sold 1,117 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $112.18, for a total value of $125,305.06. Following the sale, the chief marketing officer now owns 46,582 shares in the company, valued at $5,225,568.76. 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 40,000 shares of the business’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $130.80, for a total transaction of $5,232,000.00. Following the completion of the sale, the chief executive officer now owns 611,718 shares in the company, valued at approximately $80,012,714.40. The disclosure for this sale can be found here. Insiders sold 46,381 shares of company stock worth $5,984,385 in the last three months. Insiders own 4.50% of the company’s stock.
Large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Intercept Pharmaceuticals by 14.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 132 shares in the last quarter. US Bancorp DE acquired a new stake in shares of Intercept Pharmaceuticals during the first quarter valued at $130,000. Quantbot Technologies LP acquired a new stake in shares of Intercept Pharmaceuticals during the first quarter valued at $170,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Intercept Pharmaceuticals by 39.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,630 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 462 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Intercept Pharmaceuticals by 21.6% in the first quarter. Pacer Advisors Inc. now owns 1,861 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 330 shares in the last quarter. Institutional investors own 84.35% 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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