Intercept Pharmaceuticals’ (ICPT) Market Perform Rating Reiterated at Leerink Swann
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT)‘s stock had its “market perform” rating reissued by stock analysts at Leerink Swann in a research report issued to clients and investors on Saturday. They presently have a $120.00 price objective on the biopharmaceutical company’s stock. Leerink Swann’s price target points to a potential upside of 94.84% from the company’s current price.
A number of other analysts also recently weighed in on the stock. Cowen and Company reaffirmed an “outperform” rating and set a $232.00 price target on shares of Intercept Pharmaceuticals in a report on Thursday, September 14th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Intercept Pharmaceuticals in a report on Wednesday, September 13th. Jefferies Group LLC initiated coverage on shares of Intercept Pharmaceuticals in a report on Monday, July 10th. They set a “buy” rating and a $275.00 price target for the company. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $69.00 price target on shares of Intercept Pharmaceuticals in a report on Wednesday, September 13th. Finally, Zacks Investment Research raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a report on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Intercept Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $174.93.
Shares of Intercept Pharmaceuticals (NASDAQ ICPT) traded down 16.43% during mid-day trading on Friday, hitting $61.59. 11,875,646 shares of the company were exchanged. The company’s 50-day moving average price is $106.75 and its 200-day moving average price is $115.74. Intercept Pharmaceuticals has a 12-month low of $60.97 and a 12-month high of $172.95. The firm’s market capitalization is $1.55 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share 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 company had revenue of $30.89 million during the quarter, compared to the consensus estimate of $27.50 million. During the same quarter in the prior year, the firm posted ($3.14) EPS. The firm’s quarterly revenue was up 459.6% on a year-over-year basis. Equities research analysts predict that Intercept Pharmaceuticals will post ($13.91) earnings per share for the current fiscal year.
In other news, CMO David Shapiro sold 350 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $121.24, for a total transaction of $42,434.00. Following the completion of the sale, the chief marketing officer now directly owns 45,215 shares in the company, valued at $5,481,866.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark Pruzanski sold 40,000 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $130.80, for a total transaction of $5,232,000.00. Following the sale, the chief executive officer now owns 611,718 shares of the company’s stock, valued at $80,012,714.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,013 shares of company stock valued at $6,198,747. Corporate insiders own 9.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of ICPT. Teachers Advisors LLC increased its position in shares of Intercept Pharmaceuticals by 9.5% during 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 during the period. US Bancorp DE acquired a new stake in shares of Intercept Pharmaceuticals during the first quarter worth $130,000. Bank of New York Mellon Corp increased its position in shares of Intercept Pharmaceuticals by 10.2% during the first quarter. Bank of New York Mellon Corp now owns 68,302 shares of the biopharmaceutical company’s stock worth $7,725,000 after buying an additional 6,312 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Intercept Pharmaceuticals by 24.7% during the first quarter. BNP Paribas Arbitrage SA now owns 5,006 shares of the biopharmaceutical company’s stock worth $566,000 after buying an additional 990 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Intercept Pharmaceuticals by 14.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 132 shares during the period. Institutional investors own 82.19% 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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