Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday.
Several other brokerages also recently issued reports on ICPT. ValuEngine downgraded Intercept Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Laidlaw downgraded Intercept Pharmaceuticals from a “buy” rating to a “hold” rating and upped their price target for the stock from $90.00 to $95.00 in a report on Friday, August 3rd. Zacks Investment Research upgraded Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a report on Tuesday, July 10th. Roth Capital initiated coverage on Intercept Pharmaceuticals in a report on Wednesday, September 12th. They set a “buy” rating and a $192.00 price target for the company. Finally, Cantor Fitzgerald set a $69.00 price target on Intercept Pharmaceuticals and gave the stock a “hold” rating in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Intercept Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $136.17.
Shares of Intercept Pharmaceuticals stock opened at $103.73 on Thursday. Intercept Pharmaceuticals has a 12-month low of $51.05 and a 12-month high of $133.74. The firm has a market cap of $3.74 billion, a P/E ratio of -7.21 and a beta of -1.94. The company has a quick ratio of 6.51, a current ratio of 6.51 and a debt-to-equity ratio of 2.48.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($2.58) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.83) by $0.25. Intercept Pharmaceuticals had a negative return on equity of 614.15% and a negative net margin of 215.30%. The business had revenue of $43.58 million during the quarter, compared to the consensus estimate of $41.26 million. During the same quarter in the prior year, the company posted ($3.46) earnings per share. Intercept Pharmaceuticals’s revenue was up 41.1% compared to the same quarter last year. On average, equities analysts anticipate that Intercept Pharmaceuticals will post -10.83 EPS for the current year.
In related news, insider David Shapiro sold 759 shares of the stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $110.65, for a total transaction of $83,983.35. Following the sale, the insider now owns 39,152 shares of the company’s stock, valued at approximately $4,332,168.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tocqueville Asset Management L.P. purchased a new stake in shares of Intercept Pharmaceuticals in the 2nd quarter valued at about $252,000. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Intercept Pharmaceuticals in the 2nd quarter valued at about $264,000. Opus Point Partners Management LLC raised its holdings in shares of Intercept Pharmaceuticals by 19.0% in the 1st quarter. Opus Point Partners Management LLC now owns 4,496 shares of the biopharmaceutical company’s stock valued at $277,000 after acquiring an additional 717 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Intercept Pharmaceuticals in the 2nd quarter valued at about $280,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Intercept Pharmaceuticals in the 2nd quarter valued at about $282,000. 69.38% of the stock is currently owned by institutional investors and hedge funds.
Intercept Pharmaceuticals Company Profile
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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