Intercept Pharmaceuticals Inc. (ICPT) Given “Buy” Rating at Wells Fargo & Co.
ICPT has been the subject of several other reports. Wedbush reissued an outperform rating and set a $239.00 price objective on shares of Intercept Pharmaceuticals in a report on Friday, September 16th. Cantor Fitzgerald initiated coverage on shares of Intercept Pharmaceuticals in a research report on Wednesday, July 6th. They issued a sell rating and a $58.00 price target on the stock. Robert W. Baird restated an outperform rating and issued a $332.00 price target on shares of Intercept Pharmaceuticals in a research report on Thursday, September 22nd. Morgan Stanley restated an underweight rating and issued a $80.00 price target on shares of Intercept Pharmaceuticals in a research report on Tuesday, May 31st. Finally, Goldman Sachs Group Inc. raised their price target on shares of Intercept Pharmaceuticals from $114.00 to $128.00 and gave the stock a neutral rating in a research report on Tuesday, May 31st. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $177.67.
Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) traded down 1.03% during midday trading on Wednesday, hitting $165.96. 56,975 shares of the stock were exchanged. The firm has a 50-day moving average price of $158.72 and a 200-day moving average price of $148.97. Intercept Pharmaceuticals has a 12-month low of $89.76 and a 12-month high of $217.99. The company’s market cap is $4.10 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($3.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.69) by $0.55. The company earned $5.52 million during the quarter, compared to analyst estimates of $1.72 million. Intercept Pharmaceuticals had a negative net margin of 5,003.95% and a negative return on equity of 50.58%. The firm’s revenue for the quarter was up 1140.4% compared to the same quarter last year. During the same period last year, the business earned ($1.99) EPS. On average, equities analysts predict that Intercept Pharmaceuticals will post ($16.31) EPS for the current year.
In related news, CMO David Shapiro sold 3,545 shares of the business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $165.08, for a total transaction of $585,208.60. Following the transaction, the chief marketing officer now owns 45,732 shares of the company’s stock, valued at $7,549,438.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Pruzanski sold 714 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $145.11, for a total transaction of $103,608.54. The disclosure for this sale can be found here. Corporate insiders own 9.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. CENTRAL TRUST Co bought a new position in shares of Intercept Pharmaceuticals during the second quarter worth about $107,000. Legal & General Group Plc raised its position in shares of Intercept Pharmaceuticals by 15.8% in the first quarter. Legal & General Group Plc now owns 1,144 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 156 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of Intercept Pharmaceuticals by 3.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 1,234 shares of the biopharmaceutical company’s stock worth $176,000 after buying an additional 38 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Intercept Pharmaceuticals during the second quarter valued at about $180,000. Finally, IBM Retirement Fund raised its stake in shares of Intercept Pharmaceuticals by 3.6% in the second quarter. IBM Retirement Fund now owns 1,657 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 58 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.
Intercept Pharmaceuticals Company Profile
Intercept Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat non-viral, progressive liver diseases. The Company’s product candidates have the potential to treat orphan and more prevalent diseases for which there are limited therapeutic solutions.
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