Intercept Pharmaceuticals Inc. (ICPT) Shares Down 2% on Insider Selling
Shares of Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) dropped 2% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $166.50 and last traded at $168.65, with a volume of 255,519 shares changing hands. The stock had previously closed at $172.13.
Specifically, CMO David Shapiro sold 3,545 shares of the stock in a transaction that occurred 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 sale, the chief marketing officer now owns 45,732 shares in the company, valued at $7,549,438.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Lisa Bright sold 246 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $159.00, for a total transaction of $39,114.00. Following the sale, the insider now owns 18,460 shares in the company, valued at approximately $2,935,140. The disclosure for this sale can be found here. 9.20% of the stock is currently owned by company insiders.
A number of research firms have recently commented on ICPT. Wedbush reiterated a “buy” rating and set a $239.00 price target on shares of Intercept Pharmaceuticals in a report on Saturday, July 9th. Wells Fargo & Co. reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $350.00 price target on shares of Intercept Pharmaceuticals in a report on Wednesday, June 1st. Credit Suisse Group AG reiterated a “buy” rating and set a $200.00 price target on shares of Intercept Pharmaceuticals in a report on Friday, August 5th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $218.00 target price (down previously from $219.00) on shares of Intercept Pharmaceuticals in a report on Friday, August 5th. Five equities research 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’s stock. The company presently has an average rating of “Hold” and an average price target of $177.67.
The firm’s 50-day moving average is $158.72 and its 200-day moving average is $148.97. The company’s market capitalization is $4.15 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($3.14) EPS for the quarter, beating the consensus estimate of ($3.69) by $0.55. The business had revenue of $5.52 million for the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was up 1140.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.99) EPS. Equities analysts predict that Intercept Pharmaceuticals Inc. will post ($16.31) EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its stake in Intercept Pharmaceuticals by 7.2% in the first quarter. BlackRock Fund Advisors now owns 467,272 shares of the biopharmaceutical company’s stock valued at $60,030,000 after buying an additional 31,289 shares during the period. State Street Corp increased its stake in Intercept Pharmaceuticals by 27.5% in the first quarter. State Street Corp now owns 521,407 shares of the biopharmaceutical company’s stock valued at $66,990,000 after buying an additional 112,431 shares during the period. Societe Generale acquired a new stake in Intercept Pharmaceuticals during the second quarter valued at approximately $1,697,000. Altrinsic Global Advisors LLC increased its stake in Intercept Pharmaceuticals by 65.5% in the first quarter. Altrinsic Global Advisors LLC now owns 292,687 shares of the biopharmaceutical company’s stock valued at $37,601,000 after buying an additional 115,870 shares during the period. Finally, Bellevue Group AG acquired a new stake in Intercept Pharmaceuticals during the first quarter valued at approximately $1,734,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.
About Intercept Pharmaceuticals
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.
Receive News & Stock Ratings for Intercept Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercept Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.