Wedbush Reiterates Ourperform Rating for Intercept Pharmaceuticals, Inc. (ICPT)
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT)‘s stock had its “ourperform” rating reiterated by investment analysts at Wedbush in a research note issued to investors on Friday. They currently have a $253.00 target price on the biopharmaceutical company’s stock. Wedbush’s price target indicates a potential upside of 188.94% from the stock’s current price.
Several other research firms have also recently weighed in on ICPT. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $69.00 price objective (up previously from $60.00) on shares of Intercept Pharmaceuticals in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $275.00 price objective on shares of Intercept Pharmaceuticals in a research report on Sunday, July 30th. BidaskClub raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Zacks Investment Research raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a research report on Tuesday, July 11th. Finally, Credit Suisse Group set a $201.00 price objective on shares of Intercept Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $207.75.
Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) traded up 7.1477% during midday trading on Friday, hitting $93.6578. 1,464,149 shares of the company were exchanged. The company’s market capitalization is $2.35 billion. The company has a 50-day moving average of $109.46 and a 200 day moving average of $116.57. Intercept Pharmaceuticals has a one year low of $85.88 and a one year high of $172.95.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings data on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $27.50 million. During the same quarter in the prior year, the business posted ($3.14) earnings per share. Intercept Pharmaceuticals’s revenue was up 459.6% compared to the same quarter last year. On average, equities research analysts expect that Intercept Pharmaceuticals will post ($14.06) earnings per share for the current fiscal year.
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In other Intercept Pharmaceuticals news, CMO David Shapiro sold 1,250 shares of the stock in a transaction that occurred on 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 approximately $5,379,703.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa Bright sold 394 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $121.33, for a total transaction of $47,804.02. Following the sale, the insider now directly owns 23,619 shares of the company’s stock, valued at approximately $2,865,693.27. The disclosure for this sale can be found here. Insiders have sold a total of 48,013 shares of company stock valued at $6,198,747 in the last three months. Insiders own 9.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in Intercept Pharmaceuticals by 0.7% during the 2nd quarter. FMR LLC now owns 3,750,678 shares of the biopharmaceutical company’s stock valued at $454,094,000 after purchasing an additional 25,958 shares during the period. Carmignac Gestion boosted its holdings in shares of Intercept Pharmaceuticals by 0.4% during the 2nd quarter. Carmignac Gestion now owns 2,035,592 shares of the biopharmaceutical company’s stock worth $246,449,000 after buying an additional 7,400 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Intercept Pharmaceuticals by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,328,133 shares of the biopharmaceutical company’s stock worth $160,797,000 after buying an additional 57,149 shares in the last quarter. State Street Corp boosted its holdings in shares of Intercept Pharmaceuticals by 7.3% during the 1st quarter. State Street Corp now owns 805,550 shares of the biopharmaceutical company’s stock worth $91,110,000 after buying an additional 54,523 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Intercept Pharmaceuticals by 17.0% during the 2nd quarter. First Trust Advisors LP now owns 287,411 shares of the biopharmaceutical company’s stock worth $34,797,000 after buying an additional 41,856 shares in the last quarter. 82.19% of the stock is owned by institutional investors and hedge funds.
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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