Marshall Wace North America L.P. raised its position in Intercept Pharmaceuticals Inc (NASDAQ:ICPT) by 591.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,305 shares of the biopharmaceutical company’s stock after purchasing an additional 169,606 shares during the quarter. Marshall Wace North America L.P. owned 0.67% of Intercept Pharmaceuticals worth $25,058,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. FMR LLC raised its position in Intercept Pharmaceuticals by 17.5% in the second quarter. FMR LLC now owns 4,437,332 shares of the biopharmaceutical company’s stock valued at $372,336,000 after purchasing an additional 661,542 shares during the period. Vanguard Group Inc. raised its position in Intercept Pharmaceuticals by 2.8% in the third quarter. Vanguard Group Inc. now owns 1,952,931 shares of the biopharmaceutical company’s stock valued at $246,772,000 after purchasing an additional 54,038 shares during the period. First Trust Advisors LP raised its position in Intercept Pharmaceuticals by 29.9% in the third quarter. First Trust Advisors LP now owns 1,092,319 shares of the biopharmaceutical company’s stock valued at $138,025,000 after purchasing an additional 251,735 shares during the period. Deutsche Bank AG raised its position in Intercept Pharmaceuticals by 24.9% in the third quarter. Deutsche Bank AG now owns 438,720 shares of the biopharmaceutical company’s stock valued at $55,435,000 after purchasing an additional 87,473 shares during the period. Finally, Northern Trust Corp raised its position in Intercept Pharmaceuticals by 190.3% in the second quarter. Northern Trust Corp now owns 257,755 shares of the biopharmaceutical company’s stock valued at $21,629,000 after purchasing an additional 168,955 shares during the period. 63.62% of the stock is currently owned by institutional investors.
Shares of ICPT stock opened at $102.26 on Friday. The company has a debt-to-equity ratio of 3.83, a current ratio of 5.98 and a quick ratio of 5.98. Intercept Pharmaceuticals Inc has a 12 month low of $51.05 and a 12 month high of $133.74.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its earnings results on Wednesday, October 31st. The biopharmaceutical company reported ($2.18) EPS for the quarter, topping analysts’ consensus estimates of ($2.65) by $0.47. The firm had revenue of $47.00 million during the quarter, compared to the consensus estimate of $48.24 million. Intercept Pharmaceuticals had a negative net margin of 202.93% and a negative return on equity of 645.54%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($2.89) earnings per share. On average, equities research analysts forecast that Intercept Pharmaceuticals Inc will post -10.35 EPS for the current year.
A number of analysts have issued reports on ICPT shares. BidaskClub lowered Intercept Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 22nd. ValuEngine raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Roth Capital began coverage on Intercept Pharmaceuticals in a research report on Wednesday, September 12th. They set a “buy” rating and a $192.00 price objective on the stock. Wedbush set a $217.00 price objective on Intercept Pharmaceuticals and gave the stock a “buy” rating in a research report on Sunday, August 12th. Finally, Zacks Investment Research raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a research report on Tuesday, November 13th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $148.25.
In related news, insider Lisa Bright sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $111.42, for a total transaction of $557,100.00. Following the completion of the transaction, the insider now owns 22,488 shares in the company, valued at $2,505,612.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David Shapiro sold 2,000 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $96.32, for a total transaction of $192,640.00. Following the transaction, the insider now owns 41,152 shares of the company’s stock, valued at approximately $3,963,760.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 812,527 shares of company stock valued at $85,195,134. Insiders own 4.90% of the company’s stock.
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About Intercept Pharmaceuticals
Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).
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