Intercept Pharmaceuticals’ (ICPT) Buy Rating Reiterated at Oppenheimer
Intercept Pharmaceuticals (NASDAQ:ICPT)‘s stock had its “buy” rating reiterated by Oppenheimer in a report released on Tuesday.
Other research analysts have also recently issued reports about the stock. BidaskClub cut shares of Intercept Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, February 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $191.00 price target (up from $170.00) on shares of Intercept Pharmaceuticals in a research report on Thursday, February 28th. Citigroup lifted their price target on shares of Intercept Pharmaceuticals from $106.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 21st. Royal Bank of Canada raised shares of Intercept Pharmaceuticals from a “sector perform” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Friday, March 1st. Finally, Zacks Investment Research cut shares of Intercept Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $144.71.
Shares of ICPT stock opened at $111.97 on Tuesday. The company has a market cap of $3.37 billion, a price-to-earnings ratio of -10.31 and a beta of 1.62. The company has a debt-to-equity ratio of 19.41, a quick ratio of 4.22 and a current ratio of 4.22. Intercept Pharmaceuticals has a fifty-two week low of $58.03 and a fifty-two week high of $133.74.
In other news, EVP Christian Weyer sold 333 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $103.16, for a total transaction of $34,352.28. Following the transaction, the executive vice president now directly owns 19,440 shares of the company’s stock, valued at $2,005,430.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Srinivas Akkaraju sold 23,438 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $128.78, for a total transaction of $3,018,345.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,558 shares of company stock worth $3,862,577. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ICPT. Geode Capital Management LLC increased its stake in Intercept Pharmaceuticals by 9.3% during the fourth quarter. Geode Capital Management LLC now owns 259,886 shares of the biopharmaceutical company’s stock valued at $26,193,000 after purchasing an additional 22,059 shares during the last quarter. Norges Bank bought a new stake in Intercept Pharmaceuticals during the fourth quarter valued at $28,428,000. FMR LLC increased its stake in Intercept Pharmaceuticals by 0.3% during the fourth quarter. FMR LLC now owns 4,448,170 shares of the biopharmaceutical company’s stock valued at $448,331,000 after purchasing an additional 13,468 shares during the last quarter. Sofinnova Investments Inc. bought a new stake in Intercept Pharmaceuticals during the fourth quarter valued at $5,491,000. Finally, Amalgamated Bank bought a new stake in Intercept Pharmaceuticals during the fourth quarter valued at $322,000. 69.38% of the stock is currently owned by institutional investors and hedge funds.
Intercept Pharmaceuticals Company Profile
Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).
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