Intercept Pharmaceuticals, Inc. (ICPT) Rating Reiterated by Credit Suisse Group
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT)‘s stock had its “outperform” rating restated by equities researchers at Credit Suisse Group in a research report issued on Tuesday. They currently have a $201.00 price target on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 228.27% from the company’s previous close.
Several other equities analysts have also weighed in on the stock. Cowen and Company restated an “outperform” rating and issued a $232.00 price objective 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 research note on Wednesday, September 13th. Jefferies Group LLC initiated coverage on shares of Intercept Pharmaceuticals in a research note on Monday, July 10th. They issued a “buy” rating and a $275.00 target price for the company. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $69.00 target price on shares of Intercept Pharmaceuticals in a research note on Wednesday, September 13th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $332.00 target price on shares of Intercept Pharmaceuticals in a research note on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Intercept Pharmaceuticals currently has an average rating of “Hold” and an average target price of $164.15.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share 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 analyst estimates of $27.50 million. During the same period 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.
In related news, Director Daniel G. Welch sold 602 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $123.93, for a total value of $74,605.86. Following the completion of the transaction, the director now owns 3,108 shares of the company’s stock, valued at $385,174.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel G. Welch sold 217 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $126.76, for a total transaction of $27,506.92. Following the completion of the transaction, the director now directly owns 3,710 shares of the company’s stock, valued at approximately $470,279.60. The disclosure for this sale can be found here. Insiders have sold 8,013 shares of company stock valued at $966,747 in the last three months. 4.50% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in ICPT. MARSHALL WACE ASIA Ltd bought a new position in Intercept Pharmaceuticals in the first quarter valued at $13,012,000. Marshall Wace North America L.P. bought a new position in Intercept Pharmaceuticals in the first quarter valued at $13,012,000. Balyasny Asset Management LLC bought a new position in Intercept Pharmaceuticals in the second quarter valued at $13,766,000. Macquarie Group Ltd. grew its position in Intercept Pharmaceuticals by 54.2% in the first quarter. Macquarie Group Ltd. now owns 241,565 shares of the biopharmaceutical company’s stock valued at $27,321,000 after purchasing an additional 84,954 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Intercept Pharmaceuticals by 4.5% in the second quarter. Vanguard Group Inc. now owns 1,328,133 shares of the biopharmaceutical company’s stock valued at $160,797,000 after purchasing an additional 57,149 shares in the last quarter. 82.19% of the stock is owned by institutional investors and hedge funds.
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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