Intercept Pharmaceuticals (NASDAQ:ICPT)‘s stock had its “buy” rating reissued by investment analysts at Wedbush in a research report issued to clients and investors on Monday, TipRanks reports. They presently have a $140.00 price target on the biopharmaceutical company’s stock. Wedbush’s price objective suggests a potential upside of 192.21% from the company’s current price.
Several other brokerages also recently weighed in on ICPT. Royal Bank of Canada downgraded shares of Intercept Pharmaceuticals from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $117.00 to $55.00 in a research note on Monday. Chardan Capital reissued a “buy” rating and issued a $145.00 target price on shares of Intercept Pharmaceuticals in a research note on Tuesday, May 12th. BMO Capital Markets downgraded shares of Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $107.00 to $52.00 in a research note on Monday. Oppenheimer downgraded shares of Intercept Pharmaceuticals from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $124.00 to $46.00 in a research note on Monday. Finally, Stifel Nicolaus reduced their target price on shares of Intercept Pharmaceuticals from $100.00 to $51.00 and set a “hold” rating on the stock in a research note on Monday. Eighteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $81.48.
Intercept Pharmaceuticals stock opened at $47.91 on Monday. The company has a market cap of $2.55 billion, a price-to-earnings ratio of -4.47 and a beta of 1.82. The firm’s fifty day moving average is $78.84 and its 200 day moving average is $88.09. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 10.32. Intercept Pharmaceuticals has a 52-week low of $44.50 and a 52-week high of $125.00.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its earnings results on Monday, May 11th. The biopharmaceutical company reported ($2.86) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.94) by $0.08. Intercept Pharmaceuticals had a negative net margin of 127.53% and a negative return on equity of 430.51%. The business had revenue of $72.60 million for the quarter, compared to the consensus estimate of $69.67 million. During the same quarter in the prior year, the firm posted ($3.03) earnings per share. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. On average, equities research analysts anticipate that Intercept Pharmaceuticals will post -11.3 earnings per share for the current fiscal year.
In other Intercept Pharmaceuticals news, Director Paolo Fundaro sold 595,578 shares of the stock in a transaction dated Wednesday, May 13th. The shares were 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 in the company, valued at approximately $1,644,031.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 595,817 shares of company stock worth $50,405,516. 23.70% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement Association of Colorado grew its holdings in Intercept Pharmaceuticals by 20.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 4,290 shares of the biopharmaceutical company’s stock worth $270,000 after acquiring an additional 742 shares in the last quarter. Sarissa Capital Management LP lifted its position in shares of 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 valued at $72,718,000 after buying an additional 295,000 shares during the last quarter. Twinbeech Capital LP purchased a new stake in shares of Intercept Pharmaceuticals during the first quarter valued at about $928,000. Advisor Group Holdings Inc. purchased a new stake in shares of Intercept Pharmaceuticals during the first quarter valued at about $4,732,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Intercept Pharmaceuticals during the first quarter valued at about $1,467,000. Institutional investors own 76.46% of the company’s stock.
About Intercept Pharmaceuticals
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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