Traders Buy Large Volume of Put Options on Intercept Pharmaceuticals (NASDAQ:ICPT)

Intercept Pharmaceuticals Inc (NASDAQ:ICPT) was the target of some unusual options trading on Monday. Traders bought 2,166 put options on the company. This is an increase of approximately 740% compared to the average volume of 258 put options.

Shares of NASDAQ:ICPT opened at $46.70 on Tuesday. The company has a market cap of $2.55 billion, a P/E ratio of -4.36 and a beta of 1.82. The company has a debt-to-equity ratio of 10.32, a quick ratio of 4.19 and a current ratio of 4.19. Intercept Pharmaceuticals has a one year low of $44.50 and a one year high of $125.00. The business’s 50-day simple moving average is $79.66 and its 200 day simple moving average is $88.43.

Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) EPS for the quarter, beating the consensus estimate of ($2.94) by $0.08. The business had revenue of $72.60 million for the quarter, compared to the consensus estimate of $69.67 million. Intercept Pharmaceuticals had a negative return on equity of 430.51% and a negative net margin of 127.53%. The company’s revenue was up 39.1% on a year-over-year basis. During the same period last year, the business posted ($3.03) EPS. Analysts predict that Intercept Pharmaceuticals will post -11.3 earnings per share for the current year.

ICPT has been the topic of a number of research analyst reports. HC Wainwright initiated coverage on Intercept Pharmaceuticals in a research note on Thursday, June 25th. They issued a “neutral” rating and a $92.00 price target on the stock. Cowen lowered Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $47.00 price target on the stock. in a research note on Monday. BidaskClub raised Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Wells Fargo & Co downgraded Intercept Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $146.00 to $46.00 in a report on Monday. Finally, Bank of America began coverage on Intercept Pharmaceuticals in a report on Thursday, March 5th. They issued a “neutral” rating and a $111.00 price objective on the stock. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company. Intercept Pharmaceuticals has an average rating of “Hold” and an average target price of $96.90.

In related news, Director Paolo Fundaro sold 595,578 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $84.60, for a total transaction of $50,385,898.80. Following the sale, the director now owns 19,433 shares of the company’s stock, valued at $1,644,031.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 595,817 shares of company stock worth $50,405,516. Corporate insiders own 23.70% of the company’s stock.

Several large investors have recently made changes to their positions in ICPT. Efficient Wealth Management LLC purchased a new stake in Intercept Pharmaceuticals during the 1st quarter worth approximately $31,000. PNC Financial Services Group Inc. increased its holdings in Intercept Pharmaceuticals by 42.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 790 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 234 shares during the last quarter. First Mercantile Trust Co. increased its holdings in Intercept Pharmaceuticals by 17.5% during the 1st quarter. First Mercantile Trust Co. now owns 938 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 140 shares during the last quarter. Credit Agricole S A purchased a new stake in Intercept Pharmaceuticals during the 1st quarter worth approximately $76,000. Finally, Sunbelt Securities Inc. purchased a new stake in Intercept Pharmaceuticals during the 4th quarter worth approximately $41,823,000. Institutional investors and hedge funds own 76.46% of the company’s stock.

Intercept Pharmaceuticals Company Profile

Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases. It markets Ocaliva, an farnesoid X receptor agonist approved in the United States, the European Union, and other jurisdictions for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid in adults.

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