Intercept Pharmaceuticals, Inc. (ICPT) Earns Outperform Rating from Analysts at Royal Bank Of Canada
Equities researchers at Royal Bank Of Canada initiated coverage on shares of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) in a report issued on Thursday, The Fly reports. The brokerage set an “outperform” rating on the biopharmaceutical company’s stock.
Other analysts have also recently issued research reports about the stock. Credit Suisse Group set a $201.00 price objective on shares of Intercept Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, June 3rd. Cowen and Company restated an “outperform” rating and issued a $232.00 price objective on shares of Intercept Pharmaceuticals in a research report on Thursday. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $200.00 price objective on shares of Intercept Pharmaceuticals in a research report on Thursday. BidaskClub upgraded shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Finally, Laidlaw restated a “hold” rating and issued a $119.00 price objective (up previously from $115.00) on shares of Intercept Pharmaceuticals in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $205.48.
Shares of Intercept Pharmaceuticals (ICPT) traded down 3.52% on Thursday, hitting $87.56. The stock had a trading volume of 2,048,389 shares. The firm has a 50 day moving average price of $109.46 and a 200 day moving average price of $116.57. The company’s market capitalization is $2.20 billion. Intercept Pharmaceuticals has a one year low of $85.88 and a one year high of $172.95.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings data on Monday, July 31st. The biopharmaceutical company reported ($3.46) EPS for the quarter, beating 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 business had revenue of $30.89 million during the quarter, compared to analysts’ expectations of $27.50 million. During the same quarter in the prior year, the company earned ($3.14) EPS. The firm’s quarterly revenue was up 459.6% on a year-over-year basis. On average, equities research analysts predict that Intercept Pharmaceuticals will post ($14.06) earnings per share for the current fiscal year.
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In related news, insider Lisa Bright sold 394 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $121.33, for a total value of $47,804.02. Following the completion of the sale, the insider now directly owns 23,619 shares in the company, valued at approximately $2,865,693.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO David Shapiro sold 1,250 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $117.43, for a total transaction of $146,787.50. Following the completion of the sale, the chief marketing officer now owns 45,812 shares of the company’s stock, valued at $5,379,703.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,013 shares of company stock valued at $6,198,747. Company insiders own 9.20% of the company’s stock.
Large investors have recently modified their holdings of the stock. WFG Advisors LP lifted its stake in Intercept Pharmaceuticals by 16.4% in the 2nd quarter. WFG Advisors LP now owns 888 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 125 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Intercept Pharmaceuticals by 14.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 132 shares during the last quarter. US Bancorp DE acquired a new stake in Intercept Pharmaceuticals in the 1st quarter valued at about $130,000. IFP Advisors Inc lifted its stake in Intercept Pharmaceuticals by 128.1% in the 2nd quarter. IFP Advisors Inc now owns 1,300 shares of the biopharmaceutical company’s stock valued at $157,000 after purchasing an additional 730 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Intercept Pharmaceuticals in the 1st quarter valued at about $170,000. Institutional investors and hedge funds own 82.19% of the company’s stock.
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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