Zacks: Analysts Expect Intercept Pharmaceuticals, Inc. (ICPT) Will Announce Quarterly Sales of $26.70 Million
Brokerages forecast that Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) will announce $26.70 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Intercept Pharmaceuticals’ earnings. The lowest sales estimate is $23.70 million and the highest is $31.48 million. Intercept Pharmaceuticals posted sales of $5.52 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 383.7%. The company is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Intercept Pharmaceuticals will report full-year sales of $26.70 million for the current financial year, with estimates ranging from $104.20 million to $157.37 million. For the next fiscal year, analysts expect that the company will post sales of $233.04 million per share, with estimates ranging from $169.50 million to $320.64 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Intercept Pharmaceuticals.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings data 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 firm had revenue of $21 million for the quarter, compared to analyst estimates of $15.88 million. Intercept Pharmaceuticals had a negative return on equity of 116.30% and a negative net margin of 825.58%. The business’s revenue for the quarter was up 4566.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($5.17) earnings per share.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a report on Tuesday. Jefferies Group LLC began coverage on shares of Intercept Pharmaceuticals in a research report on Monday. They set a “buy” rating and a $275.00 price target for the company. BidaskClub lowered shares of Intercept Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Wedbush reiterated an “outperform” rating and issued a $231.00 target price on shares of Intercept Pharmaceuticals in a research report on Friday, June 23rd. Finally, Cowen and Company restated a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Monday, June 12th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $196.73.
Intercept Pharmaceuticals (NASDAQ:ICPT) opened at 126.636 on Wednesday. The stock has a 50 day moving average price of $119.14 and a 200 day moving average price of $115.34. The firm’s market cap is $3.17 billion. Intercept Pharmaceuticals has a 52-week low of $96.63 and a 52-week high of $177.93.
In other news, CMO David Shapiro sold 1,117 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $112.18, for a total value of $125,305.06. Following the completion of the sale, the chief marketing officer now owns 46,582 shares in the company, valued at approximately $5,225,568.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lisa Bright sold 254 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $117.52, for a total transaction of $29,850.08. Following the completion of the sale, the insider now owns 23,246 shares of the company’s stock, valued at approximately $2,731,869.92. The disclosure for this sale can be found here. Insiders have sold a total of 46,381 shares of company stock valued at $5,984,385 in the last quarter. 4.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 during the period. US Bancorp DE bought a new stake in Intercept Pharmaceuticals during the first quarter valued at $130,000. Quantbot Technologies LP bought a new stake in Intercept Pharmaceuticals during the first quarter valued at $170,000. Ladenburg Thalmann Financial Services Inc. increased its stake in 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. increased its stake in 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. Hedge funds and other 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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