FBR & Co Reiterates “Neutral” Rating for Intercept Pharmaceuticals Inc. (ICPT)
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT)‘s stock had its “neutral” rating restated by investment analysts at FBR & Co in a note issued to investors on Friday.
The analysts wrote, “At the annual meeting of the AASLD (American Association for the Study of Liver Diseases) held in Boston, Massachusetts, November 11–15, Intercept Pharmaceuticals and its collaborators presented results from three post-hoc analyses of the completed POISE Phase III trial with Ocaliva in patients with primary biliary cholangitis (PBC). In parsing through the analyses presented, we came away with a more definitive picture of the wealth of data generated by POISE, which is the pivotal trial that gained Ocaliva FDA approval in May 2016. Importantly, the analyses provide data that may be added to the compendium of information that supports Ocaliva’s nascent potential in PBC.””
Other equities research analysts have also issued research reports about the company. Credit Suisse Group AG reissued a “buy” rating and issued a $200.00 price objective on shares of Intercept Pharmaceuticals in a report on Friday, August 5th. JMP Securities restated a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Thursday, August 18th. Wells Fargo & Co. restated a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Wednesday, September 28th. Zacks Investment Research upgraded Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $147.00 target price for the company in a research note on Wednesday, October 26th. Finally, Cowen and Company restated a “buy” rating and issued a $225.00 target price on shares of Intercept Pharmaceuticals in a research note on Wednesday, November 2nd. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $177.07.
Intercept Pharmaceuticals (NASDAQ:ICPT) opened at 115.32 on Friday. The firm’s market cap is $2.86 billion. Intercept Pharmaceuticals has a 1-year low of $89.76 and a 1-year high of $186.87. The stock has a 50 day moving average price of $128.49 and a 200 day moving average price of $146.33.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($3.59) earnings per share for the quarter, topping the consensus estimate of ($3.82) by $0.23. Intercept Pharmaceuticals had a negative return on equity of 66.97% and a negative net margin of 3,287.95%. The company earned $4.70 million during the quarter, compared to analyst estimates of $4.77 million. During the same quarter last year, the firm posted ($2.10) EPS. The firm’s revenue for the quarter was up 1051.1% on a year-over-year basis. On average, analysts anticipate that Intercept Pharmaceuticals will post ($15.63) EPS for the current year.
In other news, insider Lisa Bright sold 246 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $159.00, for a total transaction of $39,114.00. Following the transaction, the insider now directly owns 18,460 shares of the company’s stock, valued at $2,935,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO David Shapiro sold 3,545 shares of the business’s stock in a transaction that occurred 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 transaction, the chief marketing officer now directly owns 45,732 shares in the company, valued at $7,549,438.56. The disclosure for this sale can be found here. Insiders own 9.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in Intercept Pharmaceuticals by 381.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 109,716 shares of the biopharmaceutical company’s stock valued at $18,058,000 after buying an additional 86,931 shares during the period. Chartwell Investment Partners LLC purchased a new stake in Intercept Pharmaceuticals during the third quarter valued at $10,181,000. Marco Investment Management LLC purchased a new stake in Intercept Pharmaceuticals during the third quarter valued at $247,000. Opus Point Partners Management LLC purchased a new stake in Intercept Pharmaceuticals during the third quarter valued at $215,000. Finally, Virtus ETF Advisers LLC raised its stake in Intercept Pharmaceuticals by 14.4% in the third quarter. Virtus ETF Advisers LLC now owns 4,378 shares of the biopharmaceutical company’s stock valued at $721,000 after buying an additional 552 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
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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