Cantor Fitzgerald Reiterates Underweight Rating for Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT)
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT)‘s stock had its “underweight” rating restated by equities research analysts at Cantor Fitzgerald in a note issued to investors on Tuesday. They presently have a $69.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $60.00. Cantor Fitzgerald’s price objective indicates a potential downside of 35.06% from the stock’s current price.
The analysts wrote, “In AESOP, OCA-treated PSC patients demonstrated significant decrease from baseline in alkaline phosphatase (ALP) of -22% compared with placebo-treated patients’ increase of +1% at 24 weeks,” the firm said.”Additionally, CONTROL demonstrated atorvastatin’s ability to reduce elevations of LDL-C in OCA-treated patients by 40-48mg/dL.”
Several other research analysts have also issued reports on the stock. BidaskClub lowered shares of Intercept Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday. Laidlaw reiterated a “hold” rating and issued a $119.00 target price (up from $115.00) on shares of Intercept Pharmaceuticals in a research report on Tuesday, August 1st. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $200.00 target price on shares of Intercept Pharmaceuticals in a research report on Tuesday, August 1st. BMO Capital Markets upped their target price on shares of Intercept Pharmaceuticals from $218.00 to $221.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Finally, Wedbush reiterated a “buy” rating on shares of Intercept Pharmaceuticals in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $203.67.
Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) traded down 1.26% on Tuesday, hitting $106.26. The stock had a trading volume of 371,472 shares. The firm has a 50-day moving average of $123.87 and a 200 day moving average of $118.05. The company’s market capitalization is $2.66 billion. Intercept Pharmaceuticals has a 1-year low of $96.63 and a 1-year high of $172.95.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.62) by $0.16. Intercept Pharmaceuticals had a negative net margin of 543.35% and a negative return on equity of 135.24%. The company had revenue of $30.89 million during the quarter, compared to analyst estimates of $27.50 million. During the same period in the previous year, the business earned ($3.14) earnings per share. The firm’s quarterly revenue was up 459.6% compared to the same quarter last year. On average, equities analysts anticipate that Intercept Pharmaceuticals will post ($14.04) earnings per share for the current fiscal year.
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In other news, CEO Mark Pruzanski sold 40,000 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $130.80, for a total transaction of $5,232,000.00. Following the completion of the transaction, the chief executive officer now directly owns 611,718 shares of the company’s stock, valued at $80,012,714.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lisa Bright sold 254 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $117.52, for a total transaction of $29,850.08. Following the transaction, the insider now directly owns 23,246 shares of the company’s stock, valued at $2,731,869.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,575 shares of company stock valued at $6,144,469. Insiders own 4.50% of the company’s stock.
Several institutional investors have recently modified their holdings of ICPT. Norges Bank purchased a new position in shares of Intercept Pharmaceuticals during the fourth quarter valued at approximately $17,652,000. Teachers Advisors LLC increased its position in shares of Intercept Pharmaceuticals by 9.5% in the fourth quarter. Teachers Advisors LLC now owns 15,410 shares of the biopharmaceutical company’s stock valued at $1,674,000 after buying an additional 1,339 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of Intercept Pharmaceuticals during the fourth quarter valued at approximately $609,000. Creative Planning increased its position in shares of Intercept Pharmaceuticals by 17.1% in the first quarter. Creative Planning now owns 4,627 shares of the biopharmaceutical company’s stock valued at $523,000 after buying an additional 675 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Intercept Pharmaceuticals by 119.7% in the first quarter. Bank of Montreal Can now owns 24,977 shares of the biopharmaceutical company’s stock valued at $2,824,000 after buying an additional 13,606 shares during the period. 83.93% of the stock is owned by hedge funds and other institutional investors.
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.
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