Intercept Pharmaceuticals Inc Forecasted to Post FY2019 Earnings of ($10.66) Per Share (NASDAQ:ICPT)
Intercept Pharmaceuticals Inc (NASDAQ:ICPT) – Analysts at Jefferies Financial Group lifted their FY2019 earnings estimates for shares of Intercept Pharmaceuticals in a research report issued on Tuesday, November 5th. Jefferies Financial Group analyst M. Yee now expects that the biopharmaceutical company will post earnings of ($10.66) per share for the year, up from their prior forecast of ($10.69). Jefferies Financial Group has a “Buy” rating and a $125.00 price objective on the stock. Jefferies Financial Group also issued estimates for Intercept Pharmaceuticals’ Q4 2019 earnings at ($2.76) EPS, Q1 2020 earnings at ($2.91) EPS, Q2 2020 earnings at ($2.97) EPS, Q3 2020 earnings at ($2.54) EPS, Q4 2020 earnings at ($2.58) EPS, FY2020 earnings at ($10.97) EPS and FY2021 earnings at ($8.43) EPS.
Several other research analysts have also issued reports on ICPT. Credit Suisse Group dropped their price objective on Intercept Pharmaceuticals from $167.00 to $87.00 in a research note on Friday, October 18th. Wedbush reiterated a “buy” rating and set a $243.00 target price on shares of Intercept Pharmaceuticals in a research report on Tuesday. ValuEngine upgraded Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded Intercept Pharmaceuticals from a “buy” rating to a “hold” rating and set a $63.00 target price for the company. in a research report on Monday, October 14th. Finally, BidaskClub raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $127.55.
Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($2.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.35) by ($0.24). Intercept Pharmaceuticals had a negative return on equity of 720.28% and a negative net margin of 143.09%. The company had revenue of $61.95 million for the quarter, compared to analyst estimates of $63.89 million. During the same quarter in the prior year, the company earned ($2.18) earnings per share. The business’s revenue was up 31.8% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of ICPT. Profund Advisors LLC boosted its holdings in Intercept Pharmaceuticals by 4.7% in the 2nd quarter. Profund Advisors LLC now owns 6,399 shares of the biopharmaceutical company’s stock valued at $509,000 after purchasing an additional 285 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Intercept Pharmaceuticals by 14.2% in the 2nd quarter. Prudential Financial Inc. now owns 2,660 shares of the biopharmaceutical company’s stock worth $212,000 after acquiring an additional 330 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Intercept Pharmaceuticals by 3.7% in the 2nd quarter. TD Asset Management Inc. now owns 9,537 shares of the biopharmaceutical company’s stock worth $759,000 after acquiring an additional 337 shares during the last quarter. Private Capital Advisors Inc. lifted its holdings in shares of Intercept Pharmaceuticals by 4.7% in the 2nd quarter. Private Capital Advisors Inc. now owns 7,954 shares of the biopharmaceutical company’s stock worth $633,000 after acquiring an additional 354 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Intercept Pharmaceuticals by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 80,602 shares of the biopharmaceutical company’s stock worth $5,349,000 after buying an additional 493 shares during the period. 81.17% of the stock is owned by institutional investors.
In other Intercept Pharmaceuticals news, insider Lisa Bright sold 595 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $75.00, for a total value of $44,625.00. Following the completion of the transaction, the insider now owns 18,732 shares of the company’s stock, valued at approximately $1,404,900. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Srinivas Akkaraju purchased 5,207 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was bought at an average cost of $60.32 per share, with a total value of $314,086.24. Following the purchase, the director now owns 21,526 shares of the company’s stock, valued at approximately $1,298,448.32. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 1,453 shares of company stock valued at $104,685. Insiders own 5.00% of the company’s stock.
Intercept Pharmaceuticals Company Profile
Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases. It markets Ocaliva, an farnesoid X receptor agonist approved in the United States, the European Union, and other jurisdictions for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid in adults.
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