FY2018 EPS Estimates for Intercept Pharmaceuticals, Inc. Lifted by Seaport Global Securities (ICPT)
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) – Equities research analysts at Seaport Global Securities upped their FY2018 earnings per share estimates for shares of Intercept Pharmaceuticals in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst V. Bernardino now anticipates that the biopharmaceutical company will post earnings of ($11.69) per share for the year, up from their previous forecast of ($13.54). Seaport Global Securities has a “Buy” rating and a $136.00 price objective on the stock. Seaport Global Securities also issued estimates for Intercept Pharmaceuticals’ FY2019 earnings at ($9.56) EPS.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.62) by $0.16. The business had revenue of $30.89 million for the quarter, compared to analyst estimates of $27.50 million. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. The company’s revenue for the quarter was up 459.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($3.14) earnings per share. WARNING: This piece was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/27/fy2018-eps-estimates-for-intercept-pharmaceuticals-inc-lifted-by-seaport-global-securities-icpt.html.
Several other analysts also recently issued reports on the company. Cowen and Company reissued an “outperform” rating and issued a $232.00 price target on shares of Intercept Pharmaceuticals in a report on Thursday, September 14th. Wells Fargo & Company reissued an “outperform” rating on shares of Intercept Pharmaceuticals in a report on Wednesday, September 13th. Jefferies Group LLC started coverage on Intercept Pharmaceuticals in a report on Monday, July 10th. They issued a “buy” rating and a $275.00 price target on the stock. Cantor Fitzgerald reissued an “underweight” rating and issued a $69.00 price target on shares of Intercept Pharmaceuticals in a report on Wednesday, September 13th. Finally, Bank of America Corporation cut their price target on Intercept Pharmaceuticals from $102.00 to $73.00 and set an “underperform” rating on the stock in a report on Friday, October 13th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $153.76.
Intercept Pharmaceuticals (ICPT) traded up 3.56% on Friday, hitting $61.43. The stock had a trading volume of 842,213 shares. The company’s 50 day moving average price is $76.46 and its 200-day moving average price is $105.97. Intercept Pharmaceuticals has a 12-month low of $54.98 and a 12-month high of $135.59. The company’s market cap is $1.54 billion.
Several hedge funds and other institutional investors have recently modified their holdings of ICPT. Bank of New York Mellon Corp grew its holdings in shares of Intercept Pharmaceuticals by 10.2% in the 1st quarter. Bank of New York Mellon Corp now owns 68,302 shares of the biopharmaceutical company’s stock worth $7,725,000 after acquiring an additional 6,312 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Intercept Pharmaceuticals by 74.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 28,007 shares of the biopharmaceutical company’s stock worth $3,168,000 after acquiring an additional 11,933 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of Intercept Pharmaceuticals by 3.0% in the 1st quarter. Teachers Advisors LLC now owns 15,871 shares of the biopharmaceutical company’s stock worth $1,795,000 after acquiring an additional 461 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Intercept Pharmaceuticals by 0.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,020 shares of the biopharmaceutical company’s stock worth $229,000 after acquiring an additional 14 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Intercept Pharmaceuticals by 196.6% in the 1st quarter. Legal & General Group Plc now owns 5,413 shares of the biopharmaceutical company’s stock worth $612,000 after acquiring an additional 3,588 shares during the last quarter. Institutional investors and hedge funds own 82.73% of the company’s stock.
In other news, CMO David Shapiro sold 1,118 shares of Intercept Pharmaceuticals stock in a transaction 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 transaction, the chief marketing officer now directly owns 45,680 shares in the company, valued at approximately $5,435,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel G. Welch sold 602 shares of Intercept Pharmaceuticals 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 transaction, the director now owns 3,108 shares in the company, valued at $385,174.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,061 shares of company stock worth $565,289. 9.20% of the stock is owned by insiders.
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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