BidaskClub Upgrades Intercept Pharmaceuticals, Inc. (ICPT) to Buy
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday.
A number of other research firms have also recently commented on ICPT. Jefferies Group LLC reissued a “buy” rating and issued a $275.00 price target on shares of Intercept Pharmaceuticals in a research note on Sunday, July 30th. Cantor Fitzgerald reissued an “underweight” rating and issued a $69.00 price target (up previously from $60.00) on shares of Intercept Pharmaceuticals in a research note on Monday, July 31st. Wedbush reissued a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Monday, July 31st. Zacks Investment Research raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a research note on Tuesday, July 11th. Finally, Credit Suisse Group set a $201.00 price target on shares of Intercept Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Intercept Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $205.04.
Intercept Pharmaceuticals (NASDAQ:ICPT) traded down 1.31% on Thursday, hitting $109.44. 172,225 shares of the stock were exchanged. The company’s market capitalization is $2.75 billion. The company has a 50-day moving average price of $115.85 and a 200 day moving average price of $117.63. Intercept Pharmaceuticals has a 1-year low of $96.63 and a 1-year high of $172.95.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) EPS for the quarter, topping the Zacks’ 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 business had revenue of $30.89 million during the quarter, compared to analysts’ expectations of $27.50 million. During the same quarter in the previous year, the company earned ($3.14) EPS. The business’s quarterly revenue was up 459.6% compared to the same quarter last year. Analysts anticipate that Intercept Pharmaceuticals will post ($14.05) EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/26/bidaskclub-upgrades-intercept-pharmaceuticals-inc-icpt-to-buy.html.
In related news, CFO Sandip Kapadia sold 1,431 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $121.59, for a total transaction of $173,995.29. Following the completion of the sale, the chief financial officer now directly owns 20,569 shares in the company, valued at approximately $2,500,984.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Pruzanski sold 40,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 611,718 shares of the company’s stock, valued at $80,012,714.40. The disclosure for this sale can be found here. Insiders have sold a total of 47,208 shares of company stock valued at $6,101,088 over the last quarter. 9.20% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of ICPT. WFG Advisors LP raised its stake in Intercept Pharmaceuticals by 16.4% in the second quarter. WFG Advisors LP now owns 888 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 125 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Intercept Pharmaceuticals by 14.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 132 shares in the last quarter. US Bancorp DE purchased a new stake in Intercept Pharmaceuticals during the first quarter worth approximately $130,000. IFP Advisors Inc raised its stake in Intercept Pharmaceuticals by 128.1% in the second quarter. IFP Advisors Inc now owns 1,300 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 730 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Intercept Pharmaceuticals during the first quarter worth approximately $170,000. Institutional investors own 83.05% of the company’s stock.
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.
Receive News & Stock Ratings for Intercept Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercept Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.