Intercept Pharmaceuticals (NASDAQ:ICPT) Downgraded by Needham & Company LLC

Needham & Company LLC lowered shares of Intercept Pharmaceuticals (NASDAQ:ICPT – Get Rating) from a buy rating to a hold rating in a research note published on Tuesday, The Fly reports.

A number of other analysts have also recently weighed in on ICPT. SVB Securities raised their price target on Intercept Pharmaceuticals from $17.00 to $18.00 in a research note on Friday, March 3rd. Raymond James cut Intercept Pharmaceuticals from an outperform rating to a market perform rating in a research note on Wednesday, May 17th. Robert W. Baird cut their price target on Intercept Pharmaceuticals from $35.00 to $18.00 in a research note on Monday. Royal Bank of Canada raised their price objective on Intercept Pharmaceuticals from $17.00 to $19.00 and gave the stock a sector perform rating in a report on Friday, March 3rd. Finally, StockNews.com initiated coverage on Intercept Pharmaceuticals in a report on Thursday, May 18th. They set a hold rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intercept Pharmaceuticals currently has an average rating of Hold and an average price target of $23.27.

Intercept Pharmaceuticals Stock Up 6.3 %

Shares of NASDAQ ICPT opened at $9.75 on Tuesday. The stock has a market cap of $406.48 million, a P/E ratio of 1.55 and a beta of 1.26. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 3.32. Intercept Pharmaceuticals has a 12-month low of $8.82 and a 12-month high of $21.86. The business’s fifty day simple moving average is $15.25 and its 200-day simple moving average is $15.98.

Intercept Pharmaceuticals (NASDAQ:ICPT – Get Rating) last announced its quarterly earnings data on Thursday, March 2nd. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.11. The company had revenue of $77.22 million during the quarter, compared to analyst estimates of $76.89 million. As a group, equities analysts predict that Intercept Pharmaceuticals will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Intercept Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Putnam Investments LLC lifted its stake in Intercept Pharmaceuticals by 277.9% in the 1st quarter. Putnam Investments LLC now owns 129,387 shares of the biopharmaceutical company’s stock valued at $1,738,000 after buying an additional 95,151 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Intercept Pharmaceuticals by 3.6% in the 1st quarter. Ameriprise Financial Inc. now owns 43,214 shares of the biopharmaceutical company’s stock valued at $580,000 after buying an additional 1,514 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Intercept Pharmaceuticals by 29.2% during the 1st quarter. Rockefeller Capital Management L.P. now owns 735,488 shares of the biopharmaceutical company’s stock worth $9,877,000 after purchasing an additional 166,303 shares during the period. Geode Capital Management LLC lifted its stake in shares of Intercept Pharmaceuticals by 2.5% during the 1st quarter. Geode Capital Management LLC now owns 599,338 shares of the biopharmaceutical company’s stock worth $8,049,000 after purchasing an additional 14,344 shares during the period. Finally, Alberta Investment Management Corp increased its holdings in shares of Intercept Pharmaceuticals by 37.7% during the 1st quarter. Alberta Investment Management Corp now owns 26,432 shares of the biopharmaceutical company’s stock worth $355,000 after buying an additional 7,231 shares during the last quarter. Hedge funds and other institutional investors own 81.09% of the company’s stock.

About Intercept Pharmaceuticals

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Intercept Pharmaceuticals, Inc operates as a biopharmaceutical company. The firm engages in the research, development, and commercialization of novel therapeutics in treating chronic liver diseases. Its product pipeline includes OCALIVA, which is used for the treatment of biliary cholangitis, nonalcoholic steatohepatitis, sclerosing cholangitis and biliary atresia.