Wedbush Weighs in on Intercept Pharmaceuticals Inc’s FY2022 Earnings (ICPT)

Intercept Pharmaceuticals Inc (NASDAQ:ICPT) – Analysts at Wedbush issued their FY2022 EPS estimates for shares of Intercept Pharmaceuticals in a research report issued on Thursday. Wedbush analyst L. Moussatos expects that the biopharmaceutical company will post earnings of $21.10 per share for the year. Wedbush currently has a “Buy” rating and a $253.00 target price on the stock.

Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($3.48) by $0.59. Intercept Pharmaceuticals had a negative net margin of 344.74% and a negative return on equity of 176.51%. The business had revenue of $41.33 million for the quarter, compared to analysts’ expectations of $36.95 million. During the same period in the prior year, the company posted ($3.59) EPS. The business’s revenue for the quarter was up 697.9% on a year-over-year basis.

A number of other equities analysts have also recently weighed in on ICPT. JMP Securities cut shares of Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 4th. Royal Bank of Canada reiterated an “outperform” rating on shares of Intercept Pharmaceuticals in a research report on Wednesday, October 4th. Seaport Global Securities reiterated a “buy” rating and issued a $136.00 price objective on shares of Intercept Pharmaceuticals in a research report on Friday, October 6th. Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price objective on shares of Intercept Pharmaceuticals in a research report on Friday, October 6th. Finally, Bank of America decreased their price objective on shares of Intercept Pharmaceuticals from $102.00 to $73.00 and set an “underperform” rating on the stock in a research report on Friday, October 13th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. Intercept Pharmaceuticals has an average rating of “Hold” and an average target price of $134.86.

Intercept Pharmaceuticals (ICPT) opened at $64.92 on Monday. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 3.15. Intercept Pharmaceuticals has a 12 month low of $51.53 and a 12 month high of $135.59.

A number of large investors have recently added to or reduced their stakes in ICPT. Senvest Management LLC purchased a new position in Intercept Pharmaceuticals in the 3rd quarter valued at about $33,883,000. Peregrine Capital Management LLC purchased a new position in Intercept Pharmaceuticals in the 4th quarter valued at about $7,055,000. Balyasny Asset Management LLC purchased a new position in Intercept Pharmaceuticals in the 2nd quarter valued at about $13,766,000. Vanguard Group Inc. lifted its holdings in Intercept Pharmaceuticals by 4.5% in the 2nd 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. Finally, Asymmetry Capital Management L.P. purchased a new position in Intercept Pharmaceuticals in the 2nd quarter valued at about $3,580,000. Institutional investors own 73.74% of the company’s stock.

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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.

Earnings History and Estimates for Intercept Pharmaceuticals (NASDAQ:ICPT)

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