Cantor Fitzgerald Reiterates “Underweight” Rating for Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT)
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT)‘s stock had its “underweight” rating restated by stock analysts at Cantor Fitzgerald in a research report issued on Tuesday. They presently have a $69.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $60.00. Cantor Fitzgerald’s target price would indicate a potential downside of 35.06% from the stock’s previous close.
The analysts wrote, “In AESOP, OCA-treated PSC patients demonstrated significant decrease from baseline in alkaline phosphatase (ALP) of -22% compared with placebo-treated patients’ increase of +1% at 24 weeks,” the firm said.”Additionally, CONTROL demonstrated atorvastatin’s ability to reduce elevations of LDL-C in OCA-treated patients by 40-48mg/dL.”
Other equities analysts also recently issued reports about the stock. Oppenheimer Holdings, Inc. set a $200.00 price target on shares of Intercept Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, May 4th. Cowen and Company restated a “buy” rating and issued a $225.00 price target on shares of Intercept Pharmaceuticals in a research note on Monday, April 24th. Credit Suisse Group set a $201.00 price target on shares of Intercept Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, June 3rd. BidaskClub upgraded shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Finally, Jefferies Group LLC started coverage on shares of Intercept Pharmaceuticals in a research note on Monday, July 10th. They issued a “buy” rating and a $275.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $203.67.
Intercept Pharmaceuticals (NASDAQ ICPT) traded down 1.26% during trading on Tuesday, hitting $106.26. 371,472 shares of the stock were exchanged. Intercept Pharmaceuticals has a 52 week low of $96.63 and a 52 week high of $172.95. The firm has a 50-day moving average of $123.87 and a 200-day moving average of $118.05. The stock’s market capitalization is $2.66 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.62) by $0.16. Intercept Pharmaceuticals had a negative net margin of 543.35% and a negative return on equity of 135.24%. The business had revenue of $30.89 million for the quarter, compared to the consensus estimate of $27.50 million. During the same period in the prior year, the company posted ($3.14) earnings per share. Intercept Pharmaceuticals’s revenue was up 459.6% compared to the same quarter last year. Equities research analysts anticipate that Intercept Pharmaceuticals will post ($14.04) earnings per share for the current fiscal year.
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In other news, CEO Mark Pruzanski sold 40,000 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $130.80, for a total value of $5,232,000.00. Following the completion of the transaction, the chief executive officer now owns 611,718 shares of the company’s stock, valued at $80,012,714.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel G. Welch sold 602 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $123.93, for a total transaction of $74,605.86. Following the completion of the transaction, the director now directly owns 3,108 shares of the company’s stock, valued at approximately $385,174.44. The disclosure for this sale can be found here. Insiders sold 47,575 shares of company stock valued at $6,144,469 in the last three months. Company insiders own 4.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its position in shares of Intercept Pharmaceuticals by 10.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 52,058 shares of the biopharmaceutical company’s stock worth $7,775,000 after buying an additional 4,776 shares during the period. CenturyLink Investment Management Co raised its position in shares of Intercept Pharmaceuticals by 94.6% in the fourth quarter. CenturyLink Investment Management Co now owns 2,092 shares of the biopharmaceutical company’s stock worth $312,000 after buying an additional 1,017 shares during the period. Norges Bank acquired a new position in shares of Intercept Pharmaceuticals during the fourth quarter worth about $17,652,000. BlackRock Fund Advisors raised its position in shares of Intercept Pharmaceuticals by 7.2% in the first quarter. BlackRock Fund Advisors now owns 467,272 shares of the biopharmaceutical company’s stock worth $60,030,000 after buying an additional 31,289 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Intercept Pharmaceuticals by 15.8% in the fourth quarter. Wells Fargo & Company MN now owns 38,324 shares of the biopharmaceutical company’s stock worth $5,724,000 after buying an additional 5,239 shares during the period. 83.93% of the stock is owned by hedge funds and other 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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