Intercept Pharmaceuticals Inc. (ICPT) Trading Up 6.9%
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) rose 6.9% during mid-day trading on Tuesday . The stock traded as high as $169.00 and last traded at $167.50, with a volume of 825,819 shares trading hands. The stock had previously closed at $156.74.
ICPT has been the subject of several research analyst reports. Morgan Stanley reaffirmed a “sell” rating and set a $80.00 target price on shares of Intercept Pharmaceuticals in a research report on Friday, August 5th. Goldman Sachs Group Inc. raised their target price on Intercept Pharmaceuticals from $114.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, May 31st. Wedbush reaffirmed an “outperform” rating and set a $239.00 target price on shares of Intercept Pharmaceuticals in a research report on Friday, September 16th. Cantor Fitzgerald initiated coverage on Intercept Pharmaceuticals in a research report on Wednesday, July 6th. They set a “sell” rating and a $58.00 target price for the company. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $332.00 target price on shares of Intercept Pharmaceuticals in a research report on Wednesday, June 15th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $177.67.
The stock’s market cap is $4.17 billion. The firm’s 50-day moving average price is $157.98 and its 200 day moving average price is $147.27.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($3.14) EPS for the quarter, beating analysts’ consensus estimates of ($3.69) by $0.55. The company earned $5.52 million during the quarter, compared to analysts’ expectations of $1.72 million. Intercept Pharmaceuticals had a negative return on equity of 50.58% and a negative net margin of 5,003.95%. Intercept Pharmaceuticals’s revenue for the quarter was up 1140.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.99) earnings per share. Equities analysts anticipate that Intercept Pharmaceuticals Inc. will post ($16.31) earnings per share for the current year.
In other Intercept Pharmaceuticals news, CEO Mark Pruzanski sold 714 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $145.11, for a total transaction of $103,608.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lisa Bright sold 246 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $159.00, for a total value of $39,114.00. Following the sale, the insider now directly owns 18,460 shares of the company’s stock, valued at approximately $2,935,140. The disclosure for this sale can be found here. Corporate insiders own 9.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its stake in Intercept Pharmaceuticals by 7.2% in the first quarter. BlackRock Fund Advisors now owns 467,272 shares of the biopharmaceutical company’s stock valued at $60,030,000 after buying an additional 31,289 shares in the last quarter. State Street Corp raised its stake in Intercept Pharmaceuticals by 27.5% in the first quarter. State Street Corp now owns 521,407 shares of the biopharmaceutical company’s stock valued at $66,990,000 after buying an additional 112,431 shares in the last quarter. Societe Generale bought a new stake in Intercept Pharmaceuticals during the second quarter valued at about $1,697,000. Altrinsic Global Advisors LLC raised its stake in Intercept Pharmaceuticals by 65.5% in the first quarter. Altrinsic Global Advisors LLC now owns 292,687 shares of the biopharmaceutical company’s stock valued at $37,601,000 after buying an additional 115,870 shares in the last quarter. Finally, Norges Bank bought a new stake in Intercept Pharmaceuticals during the fourth quarter valued at about $18,351,000. 81.86% of the stock is owned by institutional investors and hedge funds.
About Intercept Pharmaceuticals
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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