Intercept Pharmaceuticals (ICPT) Given Buy Rating at Wedbush
Wedbush reaffirmed their buy rating on shares of Intercept Pharmaceuticals (NASDAQ:ICPT) in a research report released on Wednesday morning. Wedbush currently has a $251.00 price target on the biopharmaceutical company’s stock.
A number of other analysts also recently commented on the company. Oppenheimer reiterated a buy rating on shares of Intercept Pharmaceuticals in a research report on Tuesday, March 19th. BidaskClub upgraded Intercept Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, March 6th. Royal Bank of Canada upgraded Intercept Pharmaceuticals from a sector perform rating to an outperform rating and set a $130.00 price objective for the company in a research report on Friday, March 1st. B. Riley reiterated a buy rating and issued a $169.00 price objective (up previously from $155.00) on shares of Intercept Pharmaceuticals in a research report on Thursday, February 28th. Finally, Raymond James set a $187.00 price objective on Intercept Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. Intercept Pharmaceuticals has a consensus rating of Buy and a consensus price target of $145.14.
Shares of ICPT stock opened at $106.30 on Wednesday. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 19.41. Intercept Pharmaceuticals has a 12 month low of $58.03 and a 12 month high of $133.74. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of -9.79 and a beta of 1.62.
In other Intercept Pharmaceuticals news, insider David Shapiro sold 2,000 shares of Intercept Pharmaceuticals stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $98.28, for a total value of $196,560.00. Following the completion of the transaction, the insider now owns 38,416 shares in the company, valued at approximately $3,775,524.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Srinivas Akkaraju sold 23,438 shares of Intercept Pharmaceuticals stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $128.78, for a total value of $3,018,345.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,558 shares of company stock valued at $3,862,577. Corporate insiders own 4.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of ICPT. Eagle Asset Management Inc. bought a new position in Intercept Pharmaceuticals in the 4th quarter valued at $28,792,000. Norges Bank acquired a new stake in shares of Intercept Pharmaceuticals in the 4th quarter valued at $28,428,000. Marshall Wace North America L.P. increased its stake in shares of Intercept Pharmaceuticals by 591.0% in the 3rd quarter. Marshall Wace North America L.P. now owns 198,305 shares of the biopharmaceutical company’s stock valued at $25,058,000 after buying an additional 169,606 shares during the period. Deutsche Bank AG increased its stake in shares of Intercept Pharmaceuticals by 24.9% in the 3rd quarter. Deutsche Bank AG now owns 438,720 shares of the biopharmaceutical company’s stock valued at $55,435,000 after buying an additional 87,473 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of Intercept Pharmaceuticals by 38.5% in the 4th quarter. Two Sigma Investments LP now owns 310,187 shares of the biopharmaceutical company’s stock valued at $31,264,000 after buying an additional 86,171 shares during the period. Hedge funds and other institutional investors own 70.24% of the company’s stock.
Intercept Pharmaceuticals Company Profile
Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).
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