Intercept Pharmaceuticals Inc. (ICPT) Rating Reiterated by Needham & Company LLC
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Friday. They presently have a $350.00 target price on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 207.80% from the stock’s previous close.
Several other research firms also recently commented on ICPT. Zacks Investment Research raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $147.00 price objective for the company in a research note on Wednesday, October 26th. Wells Fargo & Co. reissued a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Wednesday, September 28th. Laidlaw downgraded Intercept Pharmaceuticals from a “buy” rating to a “sell” rating and reduced their price objective for the company from $345.00 to $105.00 in a research note on Friday, August 5th. Wedbush reissued an “outperform” rating and issued a $224.00 price objective on shares of Intercept Pharmaceuticals in a research note on Thursday, November 3rd. Finally, Cowen and Company reissued a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Tuesday. Five analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $177.07.
Intercept Pharmaceuticals (NASDAQ:ICPT) traded down 1.34% on Friday, hitting $113.71. 321,245 shares of the company were exchanged. Intercept Pharmaceuticals has a 52-week low of $89.76 and a 52-week high of $186.87. The stock’s 50-day moving average price is $131.15 and its 200-day moving average price is $146.70. The stock’s market capitalization is $2.81 billion.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($3.59) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.82) by $0.23. The business earned $4.70 million during the quarter, compared to the consensus estimate of $4.77 million. Intercept Pharmaceuticals had a negative return on equity of 66.97% and a negative net margin of 3,287.95%. The business’s quarterly revenue was up 1051.1% on a year-over-year basis. During the same period in the prior year, the company posted ($2.10) EPS. On average, equities research analysts anticipate that Intercept Pharmaceuticals will post ($15.70) earnings per share for the current fiscal year.
In other news, CEO Mark Pruzanski sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $165.00, for a total transaction of $5,775,000.00. Following the sale, the chief executive officer now owns 579,314 shares of the company’s stock, valued at approximately $95,586,810. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO David Shapiro sold 3,545 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $165.08, for a total value of $585,208.60. Following the sale, the chief marketing officer now directly owns 45,732 shares in the company, valued at approximately $7,549,438.56. The disclosure for this sale can be found here. 9.20% of the stock is owned by insiders.
Several large investors have recently modified their holdings of ICPT. BlackRock Group LTD raised its stake in shares of Intercept Pharmaceuticals by 20.1% in the first quarter. BlackRock Group LTD now owns 13,074 shares of the biopharmaceutical company’s stock valued at $1,680,000 after buying an additional 2,188 shares during the period. State Street Corp raised its position 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. Geode Capital Management LLC raised its position in Intercept Pharmaceuticals by 3.3% in the first quarter. Geode Capital Management LLC now owns 112,773 shares of the biopharmaceutical company’s stock valued at $14,487,000 after buying an additional 3,654 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Intercept Pharmaceuticals during the first quarter valued at approximately $1,675,000. Finally, Mizuho Securities USA Inc. purchased a new position in Intercept Pharmaceuticals during the second quarter valued at approximately $984,000. 80.73% 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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