Intercept Pharmaceuticals (NASDAQ: ICPT) recently received a number of ratings updates from brokerages and research firms:

  • 11/1/2017 – Intercept Pharmaceuticals had its “hold” rating reaffirmed by analysts at Needham & Company LLC. They wrote, “Intercept reported $40.9M in WW 3Q17 Ocaliva sales, with $4.1M attributed to one-time accounting adjustment. Excluding adjustment, WW and U.S. Ocaliva sales were $36.8M and $32.5M, respectively, both in-line with our and consensus $36M and $33M ests. Company has completed safety review w/ independent committee and discussions w/ FDA are underway. Changes to U.S. label are expected by early 1Q18. Safety concerns appear to have had modest impact on NRX since FDA letter and we have reduced our ests accordingly. Long-term sales in PBC may be negatively impacted by large number of competing programs in development. Maintain HOLD.””
  • 11/1/2017 – Intercept Pharmaceuticals was upgraded by analysts at Laidlaw from a “hold” rating to a “buy” rating. They now have a $90.00 price target on the stock.
  • 11/1/2017 – Intercept Pharmaceuticals had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $112.00 price target on the stock.
  • 11/1/2017 – Intercept Pharmaceuticals was upgraded by analysts at Cantor Fitzgerald from an “underweight” rating to a “neutral” rating. They now have a $69.00 price target on the stock. They wrote, “Emerging Safety Risks, but PBC Remains Intact. This morning, Intercept reported results demonstrating 3Q17 revenue growth to $36.8 million (excl. $4.1 million one-time increase in deferred revenue) from $31 million in 2Q17. While the FDA warning letter at the end of the quarter potentially shifts the risk-benefit profile of Ocaliva, an analysis of drug scripts provided by Intercept indicates that the sharp drop in scripts around the time of the news has since abated. Net ex-U.S 3Q17 sales increased to $4.7 million from $2.5 million in 2Q17 during the quarter, largely contributed from Germany and France. No formal guidance for the full-year was given, but management noted that they expect sequential quarterly growth for the balance of 2017. While we do not see a negative impact to our long-run commercialization in PBC, we believe the safety events reaffirm the uncertainty for Ocaliva’s use in NASH (where dosing is higher).””
  • 10/24/2017 – Intercept Pharmaceuticals had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 10/13/2017 – Intercept Pharmaceuticals had its price target lowered by analysts at Bank of America Corporation from $102.00 to $73.00. They now have an “underperform” rating on the stock.
  • 10/6/2017 – Intercept Pharmaceuticals had its “buy” rating reaffirmed by analysts at Seaport Global Securities. They now have a $136.00 price target on the stock.
  • 10/6/2017 – Intercept Pharmaceuticals had its “neutral” rating reaffirmed by analysts at Goldman Sachs Group, Inc. (The). They now have a $79.00 price target on the stock.
  • 10/4/2017 – Intercept Pharmaceuticals was downgraded by analysts at JMP Securities from an “outperform” rating to a “market perform” rating.
  • 10/4/2017 – Intercept Pharmaceuticals had its “outperform” rating reaffirmed by analysts at Royal Bank Of Canada.
  • 9/26/2017 – Intercept Pharmaceuticals had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
  • 9/26/2017 – Intercept Pharmaceuticals had its “outperform” rating reaffirmed by analysts at Credit Suisse Group. They now have a $201.00 price target on the stock.
  • 9/26/2017 – Intercept Pharmaceuticals had its “outperform” rating reaffirmed by analysts at JMP Securities. They now have a $140.00 price target on the stock, down previously from $150.00.
  • 9/26/2017 – Intercept Pharmaceuticals had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $135.00 price target on the stock, down previously from $275.00.
  • 9/26/2017 – Intercept Pharmaceuticals had its price target raised by analysts at Royal Bank Of Canada from $200.00 to $244.00. They now have an “outperform” rating on the stock.
  • 9/23/2017 – Intercept Pharmaceuticals had its price target lowered by analysts at Leerink Swann from $120.00 to $66.00. They now have a “market perform” rating on the stock.
  • 9/23/2017 – Intercept Pharmaceuticals had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $332.00 price target on the stock.
  • 9/22/2017 – Intercept Pharmaceuticals was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 9/22/2017 – Intercept Pharmaceuticals had its price target lowered by analysts at Laidlaw from $118.00 to $90.00. They now have a “hold” rating on the stock.
  • 9/22/2017 – Intercept Pharmaceuticals had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $112.00 price target on the stock, down previously from $232.00.
  • 9/22/2017 – Intercept Pharmaceuticals had its “underweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $50.00 price target on the stock, down previously from $75.00.
  • 9/22/2017 – Intercept Pharmaceuticals had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 9/22/2017 – Intercept Pharmaceuticals had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $160.00 price target on the stock, down previously from $221.00.
  • 9/22/2017 – Intercept Pharmaceuticals was downgraded by analysts at UBS AG from an “outperform” rating to a “market perform” rating.
  • 9/22/2017 – Intercept Pharmaceuticals was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $92.00 price target on the stock, down previously from $150.00.
  • 9/21/2017 – Intercept Pharmaceuticals was downgraded by analysts at Wells Fargo & Company from an “outperform” rating to a “market perform” rating. They now have a $95.00 price target on the stock, down previously from $265.00. They wrote, “an increased risk of serious liver injury and death.” The letter resulted in a 25 percent selloff in Intercept’s stock on Thursday, and some Wall Street analyst’s felt it prudent to take action.Wells Fargo’s Jim Birchenough downgraded Intercept’s stock rating from Overweight to Market Perform with a price target slashed from $265 all the way down to $95 as the letter goes beyond a previous warning.The FDA’s letter contains new pieces of information that weren’t included in the prior “Dear Healthcare Provider Letter,” the analyst highlighted. For example, 19 separate deaths have been identified since Ocaliva’s launch in May 2016. The cause of death was worsening primary biliary cholangitis in seven of these cases, cardiovascular disease in one case, with the other cases being unknown.Among the eight cases with a known cause of death, seven of the patients received an incorrect dose, Birchenough continued. In addition, the FDA highlighted 11 cases of serious liver injury, of which six patients were given an incorrect dose resulting in three of the 19 deaths.”We believe that serious events in patients with mild or no baseline liver disease, treated with correct doses of OCALIVA, and the recommendation for increased monitoring could dramatically impact OCALIVA adoption in PBC, and introduces a potential overhang on the development for non alcoholic steatohepatitis (NASH), with phase 3 data not expected until early 2019 and potential increased risk of imbalance in serious adverse events (SAE’s),”
  • 9/20/2017 – Intercept Pharmaceuticals had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $275.00 price target on the stock.
  • 9/19/2017 – Intercept Pharmaceuticals had its “neutral” rating reaffirmed by analysts at Citigroup Inc.. They now have a $150.00 price target on the stock.
  • 9/15/2017 – Intercept Pharmaceuticals had its “ourperform” rating reaffirmed by analysts at Wedbush. They now have a $253.00 price target on the stock.
  • 9/14/2017 – Intercept Pharmaceuticals had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $232.00 price target on the stock.
  • 9/14/2017 – Intercept Pharmaceuticals is now covered by analysts at Royal Bank Of Canada. They set an “outperform” rating and a $244.00 price target on the stock.
  • 9/14/2017 – Intercept Pharmaceuticals had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $200.00 price target on the stock.
  • 9/13/2017 – Intercept Pharmaceuticals had its “underweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $69.00 price target on the stock.
  • 9/13/2017 – Intercept Pharmaceuticals had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $275.00 price target on the stock.
  • 9/13/2017 – Intercept Pharmaceuticals had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $332.00 price target on the stock.
  • 9/13/2017 – Intercept Pharmaceuticals had its “outperform” rating reaffirmed by analysts at Wells Fargo & Company.
  • 9/13/2017 – Intercept Pharmaceuticals had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $221.00 price target on the stock.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.48) by $0.59. The firm had revenue of $41.33 million for the quarter, compared to analyst estimates of $36.95 million. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. The company’s revenue was up 697.9% on a year-over-year basis. During the same quarter last year, the firm posted ($3.59) EPS.

In other news, CEO Mark Pruzanski sold 1,532 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $58.87, for a total transaction of $90,188.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO David Shapiro sold 1,250 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $117.43, for a total value of $146,787.50. Following the sale, the chief marketing officer now directly owns 45,812 shares in the company, valued at approximately $5,379,703.16. The disclosure for this sale can be found here. Insiders sold a total of 4,069 shares of company stock worth $325,974 in the last ninety days. Insiders own 9.20% of the company’s stock.

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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