Intercept Pharmaceuticals, Inc. (ICPT) Earns Hold Rating from Oppenheimer Holdings, Inc.
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT)‘s stock had its “hold” rating reaffirmed by Oppenheimer Holdings, Inc. in a report released on Tuesday.
A number of other research analysts have also recently issued reports on ICPT. BidaskClub cut Intercept Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Jefferies Group LLC initiated coverage on Intercept Pharmaceuticals in a research report on Monday, July 10th. They issued a “buy” rating and a $275.00 target price on the stock. Zacks Investment Research upgraded Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a research report on Tuesday, July 11th. Cantor Fitzgerald reiterated an “underweight” rating and issued a $69.00 target price (up previously from $60.00) on shares of Intercept Pharmaceuticals in a research report on Monday, July 31st. Finally, Wedbush reissued a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Monday, July 31st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $153.76.
Shares of Intercept Pharmaceuticals (ICPT) opened at 61.92 on Tuesday. The stock has a 50 day moving average of $78.07 and a 200 day moving average of $106.30. The firm’s market cap is $1.55 billion. Intercept Pharmaceuticals has a 52 week low of $54.98 and a 52 week high of $135.59.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) EPS for the quarter, topping the Zacks’ 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 analysts’ expectations of $27.50 million. During the same quarter last year, the business earned ($3.14) earnings per share. Intercept Pharmaceuticals’s revenue was up 459.6% on a year-over-year basis. Analysts anticipate that Intercept Pharmaceuticals will post ($13.99) earnings per share for the current fiscal year.
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In other news, CMO David Shapiro sold 1,118 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $119.00, for a total transaction of $133,042.00. Following the completion of the sale, the chief marketing officer now owns 45,680 shares in the company, valued at $5,435,920. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lisa Bright sold 253 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $111.31, for a total value of $28,161.43. Following the sale, the insider now owns 23,324 shares of the company’s stock, valued at approximately $2,596,194.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,061 shares of company stock valued at $565,289. 4.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICPT. Ameriprise Financial Inc. increased its holdings in shares of Intercept Pharmaceuticals by 55.0% during the fourth quarter. Ameriprise Financial Inc. now owns 2,863,069 shares of the biopharmaceutical company’s stock valued at $427,601,000 after acquiring an additional 1,016,175 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Intercept Pharmaceuticals by 198.2% during the second quarter. JPMorgan Chase & Co. now owns 829,438 shares of the biopharmaceutical company’s stock valued at $118,345,000 after acquiring an additional 551,324 shares in the last quarter. Carmignac Gestion increased its holdings in shares of Intercept Pharmaceuticals by 19.6% during the second quarter. Carmignac Gestion now owns 1,993,592 shares of the biopharmaceutical company’s stock valued at $284,446,000 after acquiring an additional 326,855 shares in the last quarter. Norges Bank bought a new stake in shares of Intercept Pharmaceuticals during the fourth quarter valued at approximately $17,652,000. Finally, Capital World Investors increased its holdings in shares of Intercept Pharmaceuticals by 11.1% during the fourth quarter. Capital World Investors now owns 1,567,537 shares of the biopharmaceutical company’s stock valued at $234,112,000 after acquiring an additional 156,600 shares in the last quarter. Hedge funds and other institutional investors own 82.73% 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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