Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) had its price objective boosted by BMO Capital Markets from $218.00 to $221.00 in a research note issued to investors on Tuesday, August 1st. BMO Capital Markets currently has an outperform rating on the biopharmaceutical company’s stock.
A number of other analysts also recently weighed in on ICPT. Oppenheimer Holdings, Inc. reiterated an outperform rating on shares of Intercept Pharmaceuticals in a research report on Wednesday, April 12th. Cowen and Company reissued a buy rating and set a $225.00 target price on shares of Intercept Pharmaceuticals in a research note on Monday, April 24th. Zacks Investment Research cut Intercept Pharmaceuticals from a hold rating to a sell rating in a research note on Monday, May 1st. Cantor Fitzgerald set a $60.00 target price on Intercept Pharmaceuticals and gave the stock a sell rating in a research note on Thursday, May 4th. Finally, Laidlaw raised Intercept Pharmaceuticals from a sell rating to a hold rating and set a $115.00 target price for the company in a research note on Friday, May 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $203.67.
Intercept Pharmaceuticals (NASDAQ:ICPT) opened at 104.08 on Tuesday. The stock’s market capitalization is $2.61 billion. Intercept Pharmaceuticals has a 52-week low of $96.63 and a 52-week high of $172.95. The stock has a 50 day moving average of $117.73 and a 200 day moving average of $117.69.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($3.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.62) by $0.16. The business had revenue of $30.89 million for the quarter, compared to the consensus estimate of $27.50 million. Intercept Pharmaceuticals had a negative net margin of 543.35% and a negative return on equity of 135.24%. Intercept Pharmaceuticals’s revenue for the quarter was up 459.6% on a year-over-year basis. During the same period last year, the company posted ($3.14) EPS. On average, equities research analysts forecast that Intercept Pharmaceuticals will post ($14.05) EPS for the current year.
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In related news, CEO Mark Pruzanski sold 40,000 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were 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 of the company’s stock, valued at $80,012,714.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel G. Welch sold 217 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $126.76, for a total transaction of $27,506.92. Following the completion of the transaction, the director now directly owns 3,710 shares of the company’s stock, valued at $470,279.60. The disclosure for this sale can be found here. Insiders sold 47,462 shares of company stock valued at $6,130,938 over the last three months. 9.20% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Intercept Pharmaceuticals during the fourth quarter valued at $17,652,000. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Intercept Pharmaceuticals during the first quarter valued at about $13,012,000. Marshall Wace North America L.P. acquired a new stake in shares of Intercept Pharmaceuticals during the first quarter valued at about $13,012,000. Balyasny Asset Management LLC acquired a new stake in shares of Intercept Pharmaceuticals during the second quarter valued at about $13,766,000. Finally, Macquarie Group Ltd. increased its stake in shares of Intercept Pharmaceuticals by 54.2% in the first quarter. Macquarie Group Ltd. now owns 241,565 shares of the biopharmaceutical company’s stock valued at $27,321,000 after buying an additional 84,954 shares in the last quarter. 83.05% of the stock is 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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