Intercept Pharmaceuticals (NASDAQ:ICPT) was downgraded by investment analysts at Wells Fargo & Co from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. They currently have a $46.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $146.00. Wells Fargo & Co‘s price target suggests a potential downside of 3.99% from the company’s current price.
Several other analysts have also recently commented on ICPT. Citigroup cut Intercept Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $110.00 target price on the stock. in a report on Tuesday, May 12th. Bank of America initiated coverage on Intercept Pharmaceuticals in a report on Thursday, March 5th. They issued a “neutral” rating and a $111.00 target price on the stock. Stifel Nicolaus reduced their target price on Intercept Pharmaceuticals from $100.00 to $99.00 and set a “hold” rating on the stock in a report on Tuesday, May 12th. Chardan Capital reiterated a “buy” rating and issued a $145.00 target price on shares of Intercept Pharmaceuticals in a report on Tuesday, May 12th. Finally, Wedbush reissued a “buy” rating and issued a $257.00 price target on shares of Intercept Pharmaceuticals in a research note on Thursday, May 14th. Eighteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $81.48.
NASDAQ:ICPT opened at $47.91 on Monday. The stock has a market cap of $2.55 billion, a P/E ratio of -4.47 and a beta of 1.82. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 10.32. The stock’s 50-day moving average is $78.84 and its 200-day moving average is $88.09. Intercept Pharmaceuticals has a 1-year low of $44.50 and a 1-year high of $125.00.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.94) by $0.08. Intercept Pharmaceuticals had a negative return on equity of 430.51% and a negative net margin of 127.53%. The business had revenue of $72.60 million for the quarter, compared to analysts’ expectations of $69.67 million. During the same period in the prior year, the business posted ($3.03) earnings per share. The firm’s revenue was up 39.1% on a year-over-year basis. As a group, equities analysts forecast that Intercept Pharmaceuticals will post -11.3 EPS for the current year.
In other news, Director Paolo Fundaro sold 595,578 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $84.60, for a total transaction of $50,385,898.80. Following the transaction, the director now directly owns 19,433 shares of the company’s stock, valued at $1,644,031.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 595,817 shares of company stock worth $50,405,516 over the last ninety days. 23.70% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Sarissa Capital Management LP grew its holdings in Intercept Pharmaceuticals by 34.3% during the first quarter. Sarissa Capital Management LP now owns 1,155,000 shares of the biopharmaceutical company’s stock worth $72,718,000 after buying an additional 295,000 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Intercept Pharmaceuticals by 50.5% during the fourth quarter. Macquarie Group Ltd. now owns 545,414 shares of the biopharmaceutical company’s stock worth $67,588,000 after buying an additional 183,072 shares in the last quarter. Two Sigma Advisers LP grew its holdings in Intercept Pharmaceuticals by 37.5% during the first quarter. Two Sigma Advisers LP now owns 539,600 shares of the biopharmaceutical company’s stock worth $33,973,000 after buying an additional 147,200 shares in the last quarter. Geode Capital Management LLC grew its holdings in Intercept Pharmaceuticals by 6.5% during the first quarter. Geode Capital Management LLC now owns 382,469 shares of the biopharmaceutical company’s stock worth $24,080,000 after buying an additional 23,187 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in Intercept Pharmaceuticals by 10.6% during the first quarter. Two Sigma Investments LP now owns 333,127 shares of the biopharmaceutical company’s stock worth $20,974,000 after buying an additional 31,881 shares in the last quarter. Institutional investors and hedge funds own 76.46% of the company’s stock.
Intercept Pharmaceuticals Company Profile
Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases. It markets Ocaliva, an farnesoid X receptor agonist approved in the United States, the European Union, and other jurisdictions for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid in adults.
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