Wall Street brokerages forecast that Intercept Pharmaceuticals (NASDAQ:ICPT) will post $37.79 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Intercept Pharmaceuticals’ earnings. The lowest sales estimate is $32.30 million and the highest is $41.41 million. Intercept Pharmaceuticals posted sales of $21.05 million during the same quarter last year, which suggests a positive year over year growth rate of 79.5%. The firm is scheduled to issue its next earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Intercept Pharmaceuticals will report full-year sales of $182.06 million for the current year, with estimates ranging from $168.43 million to $199.00 million. For the next financial year, analysts anticipate that the firm will report sales of $265.39 million per share, with estimates ranging from $189.91 million to $311.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Intercept Pharmaceuticals.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($4.43) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($3.39) by ($1.04). Intercept Pharmaceuticals had a negative return on equity of 267.95% and a negative net margin of 275.18%. The business had revenue of $37.69 million for the quarter, compared to analysts’ expectations of $39.01 million. During the same period last year, the business earned ($4.84) earnings per share. The company’s revenue for the quarter was up 173.1% on a year-over-year basis.
ICPT has been the subject of a number of recent research reports. BidaskClub raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. Credit Suisse Group set a $167.00 target price on shares of Intercept Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, January 22nd. Wedbush restated an “outperform” rating and set a $253.00 target price (down previously from $256.00) on shares of Intercept Pharmaceuticals in a research report on Friday, March 9th. Citigroup set a $74.00 target price on shares of Intercept Pharmaceuticals and gave the stock a “hold” rating in a research report on Friday, December 29th. Finally, Deutsche Bank assumed coverage on shares of Intercept Pharmaceuticals in a research report on Monday, February 12th. They set a “buy” rating and a $103.00 target price on the stock. Four analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $128.90.
Shares of ICPT opened at $70.07 on Friday. The company has a debt-to-equity ratio of 21.71, a current ratio of 4.31 and a quick ratio of 4.31. Intercept Pharmaceuticals has a 1-year low of $51.05 and a 1-year high of $135.59. The company has a market cap of $1,935.94, a PE ratio of -4.87 and a beta of -1.82.
In related news, CEO Mark Pruzanski purchased 7,812 shares of the firm’s stock in a transaction on Monday, April 9th. The shares were bought at an average price of $64.00 per share, for a total transaction of $499,968.00. Following the acquisition, the chief executive officer now directly owns 11,642 shares in the company, valued at $745,088. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Francesco Micheli purchased 390,625 shares of the firm’s stock in a transaction on Monday, April 9th. The stock was bought at an average price of $64.00 per share, for a total transaction of $25,000,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 399,608 shares of company stock worth $25,574,912. 9.20% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Senvest Management LLC boosted its holdings in shares of Intercept Pharmaceuticals by 66.3% in the 4th quarter. Senvest Management LLC now owns 970,926 shares of the biopharmaceutical company’s stock valued at $56,721,000 after purchasing an additional 387,136 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Intercept Pharmaceuticals by 101.5% in the 4th quarter. First Trust Advisors LP now owns 605,454 shares of the biopharmaceutical company’s stock valued at $35,371,000 after purchasing an additional 304,999 shares during the last quarter. Altrinsic Global Advisors LLC boosted its holdings in shares of Intercept Pharmaceuticals by 33.4% in the 4th quarter. Altrinsic Global Advisors LLC now owns 310,300 shares of the biopharmaceutical company’s stock valued at $18,128,000 after purchasing an additional 77,756 shares during the last quarter. Pinnacle Associates Ltd. acquired a new position in shares of Intercept Pharmaceuticals in the 4th quarter valued at $12,577,000. Finally, Sarissa Capital Management LP acquired a new position in shares of Intercept Pharmaceuticals in the 4th quarter valued at $10,649,000. Institutional investors own 63.29% of the company’s stock.
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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