ValuEngine Upgrades Intercept Pharmaceuticals, Inc. (ICPT) to “Hold”
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.
A number of other brokerages also recently issued reports on ICPT. Jefferies Group LLC reissued a “buy” rating and set a $275.00 target price on shares of Intercept Pharmaceuticals in a research note on Sunday, July 30th. Cantor Fitzgerald reissued an “underweight” rating and set a $69.00 target price (up 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. BidaskClub raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Finally, Zacks Investment Research raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $205.04.
Intercept Pharmaceuticals (NASDAQ:ICPT) traded up 1.84% during mid-day trading on Friday, reaching $118.75. The company had a trading volume of 262,089 shares. The firm’s 50 day moving average price is $114.38 and its 200-day moving average price is $117.58. The company’s market capitalization is $2.98 billion. Intercept Pharmaceuticals has a 12 month low of $96.63 and a 12 month high of $172.95.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.62) by $0.16. The business had revenue of $30.89 million during the quarter, compared to the consensus estimate of $27.50 million. Intercept Pharmaceuticals had a negative return on equity of 135.24% and a negative net margin of 543.35%. The company’s revenue for the quarter was up 459.6% on a year-over-year basis. During the same period in the prior year, the business posted ($3.14) EPS. Equities research analysts anticipate that Intercept Pharmaceuticals will post ($14.05) earnings per share for the current year.
In related news, Director Daniel G. Welch sold 217 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $126.76, for a total value of $27,506.92. Following the transaction, the director now directly owns 3,710 shares of the company’s stock, valued at approximately $470,279.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Pruzanski sold 40,000 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $130.80, for a total value of $5,232,000.00. Following the completion of the transaction, the chief executive officer now directly owns 611,718 shares in the company, valued at $80,012,714.40. The disclosure for this sale can be found here. Insiders have sold 46,763 shares of company stock worth $6,051,960 in the last 90 days. Insiders own 9.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. WFG Advisors LP raised its position in shares of Intercept Pharmaceuticals by 16.4% in the second quarter. WFG Advisors LP now owns 888 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 125 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Intercept Pharmaceuticals by 14.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,047 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 132 shares during the period. US Bancorp DE purchased a new position in shares of Intercept Pharmaceuticals during the first quarter valued at $130,000. IFP Advisors Inc raised its position in shares of Intercept Pharmaceuticals by 128.1% in the second quarter. IFP Advisors Inc now owns 1,300 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 730 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Intercept Pharmaceuticals during the first quarter valued at $170,000. 82.19% 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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