Analysts Expect Intercept Pharmaceuticals, Inc. (ICPT) Will Post Quarterly Sales of $37.94 Million
Equities research analysts predict that Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) will post $37.94 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Intercept Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $33.09 million and the highest estimate coming in at $45.44 million. Intercept Pharmaceuticals posted sales of $5.18 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 632.4%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Intercept Pharmaceuticals will report full year sales of $37.94 million for the current year, with estimates ranging from $120.38 million to $156.78 million. For the next financial year, analysts anticipate that the company will report sales of $248.25 million per share, with estimates ranging from $188.80 million to $320.65 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Intercept Pharmaceuticals.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm 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 firm posted ($3.14) earnings per share. The firm’s quarterly revenue was up 459.6% compared to the same quarter last year.
ICPT has been the topic of several recent research reports. Jefferies Group LLC initiated coverage on shares of Intercept Pharmaceuticals in a research report on Monday, July 10th. They issued a “buy” rating and a $275.00 price objective on the stock. Credit Suisse Group boosted their price objective on shares of Intercept Pharmaceuticals from $198.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Oppenheimer Holdings, Inc. set a $200.00 price objective on shares of Intercept Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, May 4th. Zacks Investment Research upgraded shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a research report on Tuesday, July 11th. Finally, Laidlaw upgraded shares of Intercept Pharmaceuticals from a “sell” rating to a “hold” rating and set a $115.00 price objective on the stock in a research report on Friday, May 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $203.67.
Shares of Intercept Pharmaceuticals (NASDAQ ICPT) traded up 1.18% during mid-day trading on Tuesday, reaching $105.90. 75,276 shares of the company were exchanged. Intercept Pharmaceuticals has a 12 month low of $96.63 and a 12 month high of $172.95. The stock has a 50 day moving average price of $117.27 and a 200-day moving average price of $117.80. The stock’s market capitalization is $2.66 billion.
In other news, insider Lisa Bright sold 698 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $110.73, for a total transaction of $77,289.54. Following the completion of the transaction, the insider now owns 24,711 shares of the company’s stock, valued at approximately $2,736,249.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Pruzanski sold 1,434 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $121.78, for a total transaction of $174,632.52. Following the transaction, the chief executive officer now directly owns 570,284 shares of the company’s stock, valued at approximately $69,449,185.52. The disclosure for this sale can be found here. Insiders sold a total of 47,462 shares of company stock valued at $6,130,938 in the last three months. 4.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Advisors LLC increased its position in Intercept Pharmaceuticals by 9.5% in the fourth quarter. Teachers Advisors LLC now owns 15,410 shares of the biopharmaceutical company’s stock worth $1,674,000 after buying an additional 1,339 shares in the last quarter. Creative Planning increased its position in Intercept Pharmaceuticals by 17.1% in the first quarter. Creative Planning now owns 4,627 shares of the biopharmaceutical company’s stock worth $523,000 after buying an additional 675 shares in the last quarter. Bank of Montreal Can increased its position in Intercept Pharmaceuticals by 119.7% in the first quarter. Bank of Montreal Can now owns 24,977 shares of the biopharmaceutical company’s stock worth $2,824,000 after buying an additional 13,606 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Intercept Pharmaceuticals by 223.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 8,390 shares of the biopharmaceutical company’s stock worth $947,000 after buying an additional 5,800 shares in the last quarter. Finally, US Bancorp DE bought a new position in Intercept Pharmaceuticals during the first quarter worth approximately $130,000. 83.05% of the stock is owned by institutional investors.
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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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