Intercept Pharmaceuticals, Inc. (ICPT) Lifted to Buy at BidaskClub
BidaskClub upgraded shares of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) from a hold rating to a buy rating in a report published on Thursday, July 13th.
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 $136.00 price objective for the company in a research note on Tuesday, July 11th. Jefferies Group LLC began coverage on Intercept Pharmaceuticals in a research note on Monday, July 10th. They set a buy rating and a $275.00 price objective for the company. Wedbush reissued an outperform rating and set a $231.00 target price on shares of Intercept Pharmaceuticals in a research note on Friday, June 23rd. Cowen and Company reissued a buy rating on shares of Intercept Pharmaceuticals in a research note on Monday, June 12th. Finally, Credit Suisse Group set a $201.00 price target on Intercept Pharmaceuticals and gave the stock a buy rating in a report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $203.67.
Shares of Intercept Pharmaceuticals (NASDAQ ICPT) opened at 106.26 on Thursday. The company’s market cap is $2.66 billion. Intercept Pharmaceuticals has a 12-month low of $96.63 and a 12-month high of $172.95. The company has a 50-day moving average of $123.87 and a 200 day moving average of $118.05.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.62) by $0.16. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. The business had revenue of $30.89 million during the quarter, compared to the consensus estimate of $27.50 million. During the same period in the previous year, the business earned ($3.14) EPS. The business’s quarterly revenue was up 459.6% on a year-over-year basis. On average, equities research analysts expect that Intercept Pharmaceuticals will post ($14.04) EPS for the current year.
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In other news, insider Lisa Bright sold 698 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $110.73, for a total transaction of $77,289.54. Following the completion of the sale, the insider now directly owns 24,711 shares in the company, valued at $2,736,249.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO David Shapiro sold 1,118 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $119.00, for a total value of $133,042.00. Following the sale, the chief marketing officer now owns 45,680 shares of the company’s stock, valued at $5,435,920. The disclosure for this sale can be found here. Insiders sold 47,575 shares of company stock worth $6,144,469 over the last three months. 4.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Intercept Pharmaceuticals during the fourth quarter worth approximately $17,652,000. MARSHALL WACE ASIA Ltd bought a new position in shares of Intercept Pharmaceuticals during the first quarter worth approximately $13,012,000. Marshall Wace North America L.P. bought a new position in shares of Intercept Pharmaceuticals during the first quarter worth approximately $13,012,000. Macquarie Group Ltd. increased its position in shares of Intercept Pharmaceuticals by 54.2% in the first quarter. Macquarie Group Ltd. now owns 241,565 shares of the biopharmaceutical company’s stock worth $27,321,000 after buying an additional 84,954 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Intercept Pharmaceuticals by 4.7% in the first quarter. Vanguard Group Inc. now owns 1,270,984 shares of the biopharmaceutical company’s stock worth $143,749,000 after buying an additional 56,952 shares during the last quarter. Institutional investors and hedge funds own 83.93% 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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