Zacks Investment Research upgraded shares of Intercept Pharmaceuticals (NASDAQ:ICPT) from a sell rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “The approval of Ocaliva was a significant boost for Intercept. Intercept is evaluating Ocaliva for other indications including NASH and PSC. A label expansion of the drug will bode well. However, prescription demand has softened following the Dear Health Care Provider letter and the FDA safety communication on Ocaliva. Recently, some deaths have been reported in PBC patients with moderate or severe hepatic impairment (Child Pugh B or C cirrhosis). However, Intercept conducted an analysis and concluded that these patients were prescribed once daily doses of Ocaliva, which is seven times higher than the recommended weekly dose. The company concluded that deaths occurred due to overdosing. Consequently, Intercept issued the Dear Healthcare Provider letter. Thereafter, the FDA issued their own safety communication to reinforce recommended label dosing. Shares have underperformed the industry in the last six months.”

Several other brokerages have also recently weighed in on ICPT. Goldman Sachs Group reiterated a neutral rating and issued a $79.00 target price on shares of Intercept Pharmaceuticals in a report on Friday, October 6th. Citigroup set a $74.00 target price on Intercept Pharmaceuticals and gave the stock a hold rating in a report on Friday, December 29th. Leerink Swann lowered their target price on Intercept Pharmaceuticals from $120.00 to $66.00 and set a market perform rating for the company in a report on Saturday, September 23rd. Needham & Company LLC reiterated a hold rating on shares of Intercept Pharmaceuticals in a report on Tuesday, September 26th. Finally, Jefferies Group reiterated a buy rating and issued a $135.00 target price (down from $275.00) on shares of Intercept Pharmaceuticals in a report on Tuesday, September 26th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $140.24.

Shares of Intercept Pharmaceuticals (ICPT) traded down $0.26 during mid-day trading on Tuesday, hitting $52.72. The company’s stock had a trading volume of 725,489 shares, compared to its average volume of 719,628. Intercept Pharmaceuticals has a twelve month low of $51.53 and a twelve month high of $135.59. The stock has a market cap of $1,320.00, a PE ratio of -3.56 and a beta of -2.05. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 3.15.

Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.48) by $0.59. Intercept Pharmaceuticals had a negative return on equity of 176.51% and a negative net margin of 344.74%. The business had revenue of $41.33 million during the quarter, compared to analysts’ expectations of $36.95 million. During the same period in the prior year, the business earned ($3.59) EPS. The business’s revenue for the quarter was up 697.9% compared to the same quarter last year. analysts forecast that Intercept Pharmaceuticals will post -13.36 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. WFG Advisors LP lifted its stake in shares of Intercept Pharmaceuticals by 16.4% during the 2nd quarter. WFG Advisors LP now owns 888 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 125 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Intercept Pharmaceuticals by 4.7% during the 2nd quarter. Voya Investment Management LLC now owns 6,994 shares of the biopharmaceutical company’s stock worth $847,000 after purchasing an additional 313 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Intercept Pharmaceuticals by 23.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,490 shares of the biopharmaceutical company’s stock worth $302,000 after purchasing an additional 470 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Intercept Pharmaceuticals by 3.1% during the 2nd quarter. Principal Financial Group Inc. now owns 15,699 shares of the biopharmaceutical company’s stock worth $1,901,000 after purchasing an additional 477 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Intercept Pharmaceuticals by 6.2% during the 2nd quarter. Alliancebernstein L.P. now owns 9,459 shares of the biopharmaceutical company’s stock valued at $1,145,000 after buying an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 73.76% of the company’s stock.

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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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