Bank of America Corporation Cuts Intercept Pharmaceuticals, Inc. (ICPT) Price Target to $73.00
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) had its price target cut by stock analysts at Bank of America Corporation from $102.00 to $73.00 in a report issued on Friday. The brokerage presently has an “underperform” rating on the biopharmaceutical company’s stock. Bank of America Corporation’s price objective would indicate a potential upside of 7.69% from the stock’s previous close.
Several other equities analysts also recently commented on the company. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $79.00 target price on shares of Intercept Pharmaceuticals in a research report on Friday, October 6th. Seaport Global Securities reaffirmed a “buy” rating and issued a $136.00 target price on shares of Intercept Pharmaceuticals in a research report on Friday, October 6th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Intercept Pharmaceuticals in a research report on Wednesday, October 4th. JMP Securities downgraded Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 4th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $201.00 target price on shares of Intercept Pharmaceuticals in a research report on Tuesday, September 26th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Intercept Pharmaceuticals has an average rating of “Hold” and an average price target of $153.76.
Intercept Pharmaceuticals (NASDAQ ICPT) traded down 2.79% during mid-day trading on Friday, reaching $65.90. The company’s stock had a trading volume of 480,897 shares. The company has a 50 day moving average of $87.92 and a 200-day moving average of $109.06. The stock’s market cap is $1.65 billion. Intercept Pharmaceuticals has a 52-week low of $54.98 and a 52-week high of $147.52.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) EPS for the quarter, beating the consensus estimate of ($3.62) by $0.16. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. The company had revenue of $30.89 million for the quarter, compared to the consensus estimate of $27.50 million. During the same quarter in the prior year, the business earned ($3.14) earnings per share. The firm’s revenue for the quarter was up 459.6% on a year-over-year basis. Equities analysts forecast that Intercept Pharmaceuticals will post ($13.99) earnings per share for the current year.
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In other news, Director Daniel G. Welch sold 217 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $126.76, for a total value of $27,506.92. Following the completion of the transaction, the director now directly owns 3,710 shares in the company, valued at approximately $470,279.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Pruzanski sold 1,532 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $58.87, for a total value of $90,188.84. The disclosure for this sale can be found here. Insiders sold a total of 6,278 shares of company stock valued at $592,796 over the last quarter. 9.20% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. WFG Advisors LP lifted its stake in shares of 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 acquiring an additional 125 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in shares of Intercept Pharmaceuticals by 85.6% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 6,798 shares of the biopharmaceutical company’s stock valued at $824,000 after acquiring an additional 3,136 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Intercept Pharmaceuticals by 15.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,385 shares of the biopharmaceutical company’s stock valued at $894,000 after acquiring an additional 965 shares during the last quarter. Asymmetry Capital Management L.P. bought a new position in shares of Intercept Pharmaceuticals in the 2nd quarter valued at $3,580,000. Finally, Nomura Holdings Inc. bought a new position in shares of Intercept Pharmaceuticals in the 2nd quarter valued at $366,000. Institutional investors 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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