Intercept Pharmaceuticals Inc. (ICPT) Trading Down 4.4% After Insider Selling
Shares of Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) dropped 4.4% on Wednesday after an insider sold shares in the company. The stock traded as low as $145.10 and last traded at $145.17, with a volume of 341,088 shares. The stock had previously closed at $151.84.
Specifically, insider Lisa Bright sold 155 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $163.20, for a total value of $25,296.00. Following the sale, the insider now directly owns 18,305 shares in the company, valued at $2,987,376. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO David Shapiro sold 3,545 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $165.08, for a total value of $585,208.60. Following the completion of the sale, the chief marketing officer now owns 45,732 shares in the company, valued at $7,549,438.56. The disclosure for this sale can be found here. 9.20% of the stock is owned by insiders.
ICPT has been the topic of a number of analyst reports. Robert W. Baird restated an “outperform” rating and issued a $332.00 price target on shares of Intercept Pharmaceuticals in a research note on Wednesday, June 15th. Wedbush restated an “outperform” rating and issued a $239.00 price target on shares of Intercept Pharmaceuticals in a research note on Friday, June 24th. Cantor Fitzgerald initiated coverage on Intercept Pharmaceuticals in a research note on Wednesday, July 6th. They issued a “sell” rating and a $58.00 price target on the stock. Laidlaw cut Intercept Pharmaceuticals from a “buy” rating to a “sell” rating and cut their price target for the company from $345.00 to $105.00 in a research note on Friday, August 5th. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $200.00 price target on shares of Intercept Pharmaceuticals in a research note on Friday, August 5th. Five analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. Intercept Pharmaceuticals has a consensus rating of “Hold” and an average target price of $177.67.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($3.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.69) by $0.55. The company earned $5.52 million during the quarter, compared to the consensus estimate of $1.72 million. Intercept Pharmaceuticals had a negative return on equity of 50.58% and a negative net margin of 5,003.95%. Intercept Pharmaceuticals’s revenue was up 1140.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.99) EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors increased its position in shares of 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 boosted its stake in shares of 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 in the last quarter. Societe Generale bought a new stake in shares of Intercept Pharmaceuticals during the second quarter valued at about $1,697,000. Altrinsic Global Advisors LLC boosted its stake in shares of 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 in the last quarter. Finally, Carmignac Gestion boosted its stake in shares of Intercept Pharmaceuticals by 19.6% in the second quarter. Carmignac Gestion now owns 1,993,592 shares of the biopharmaceutical company’s stock valued at $284,446,000 after buying an additional 326,855 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.
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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