Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by investment analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued on Monday, Marketbeat reports. They presently have a $58.00 price target on the biopharmaceutical company’s stock. Canaccord Genuity’s target price indicates a potential upside of 21.06% from the stock’s previous close.
Other analysts have also issued research reports about the company. Citigroup lowered Intercept Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $110.00 price objective for the company. in a report on Tuesday, May 12th. B. Riley reiterated a “buy” rating and set a $158.00 price objective on shares of Intercept Pharmaceuticals in a report on Friday, May 22nd. Stifel Nicolaus decreased their price objective on Intercept Pharmaceuticals from $100.00 to $99.00 and set a “hold” rating for the company in a report on Tuesday, May 12th. Needham & Company LLC restated a “buy” rating and issued a $150.00 target price on shares of Intercept Pharmaceuticals in a research note on Monday, May 11th. Finally, BidaskClub upgraded Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Eighteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $81.48.
Shares of NASDAQ ICPT opened at $47.91 on Monday. Intercept Pharmaceuticals has a 12-month low of $44.50 and a 12-month high of $125.00. The stock’s fifty day simple moving average is $78.84 and its two-hundred day simple moving average is $88.09. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 10.32. The stock has a market capitalization of $2.55 billion, a PE ratio of -4.47 and a beta of 1.82.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported ($2.86) EPS for the quarter, beating the consensus estimate of ($2.94) by $0.08. Intercept Pharmaceuticals had a negative return on equity of 430.51% and a negative net margin of 127.53%. The firm had revenue of $72.60 million during the quarter, compared to analyst estimates of $69.67 million. During the same quarter in the prior year, the business posted ($3.03) EPS. The business’s revenue for the quarter was up 39.1% compared to the same quarter last year. On average, equities analysts predict that Intercept Pharmaceuticals will post -11.3 earnings per share for the current fiscal year.
In other Intercept Pharmaceuticals news, Director Paolo Fundaro sold 595,578 shares of Intercept Pharmaceuticals stock in a transaction dated 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 completion of the transaction, the director now owns 19,433 shares in the company, valued at approximately $1,644,031.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 595,817 shares of company stock valued at $50,405,516 in the last quarter. Company insiders own 23.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICPT. Victory Capital Management Inc. raised its stake in shares of Intercept Pharmaceuticals by 6.7% during the 4th quarter. Victory Capital Management Inc. now owns 3,895 shares of the biopharmaceutical company’s stock valued at $483,000 after buying an additional 244 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Intercept Pharmaceuticals by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 163,811 shares of the biopharmaceutical company’s stock valued at $20,300,000 after acquiring an additional 3,125 shares during the period. National Asset Management Inc. acquired a new stake in shares of Intercept Pharmaceuticals during the 4th quarter valued at about $233,000. Envestnet Asset Management Inc. acquired a new stake in shares of Intercept Pharmaceuticals during the 4th quarter valued at about $299,000. Finally, EAM Investors LLC acquired a new stake in shares of Intercept Pharmaceuticals during the 4th quarter valued at about $1,575,000. Institutional investors and hedge funds own 76.46% of the company’s stock.
About Intercept Pharmaceuticals
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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