Jefferies Group Weighs in on Intercept Pharmaceuticals, Inc.’s FY2017 Earnings (ICPT)
Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) – Analysts at Jefferies Group increased their FY2017 EPS estimates for shares of Intercept Pharmaceuticals in a research note issued on Wednesday. Jefferies Group analyst M. Yee now expects that the biopharmaceutical company will earn ($13.54) per share for the year, up from their prior estimate of ($14.25). Jefferies Group currently has a “Buy” rating and a $135.00 target price on the stock. Jefferies Group also issued estimates for Intercept Pharmaceuticals’ Q4 2017 earnings at ($3.58) EPS and FY2018 earnings at ($12.38) EPS.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.48) by $0.59. Intercept Pharmaceuticals had a negative net margin of 344.74% and a negative return on equity of 152.78%. The company had revenue of $41.33 million for the quarter, compared to analyst estimates of $36.95 million. During the same quarter in the prior year, the business posted ($3.59) EPS. Intercept Pharmaceuticals’s quarterly revenue was up 697.9% on a year-over-year basis.
Several other brokerages have also commented on ICPT. Cantor Fitzgerald restated an “underweight” rating and set a $69.00 price target (up previously from $60.00) on shares of Intercept Pharmaceuticals in a research note on Monday, July 31st. Wedbush restated a “buy” rating on shares of Intercept Pharmaceuticals in a research note on Monday, July 31st. BidaskClub raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a report on Tuesday, July 11th. Finally, ValuEngine raised shares of Intercept Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Intercept Pharmaceuticals currently has an average rating of “Hold” and an average price target of $153.76.
Intercept Pharmaceuticals (ICPT) opened at $65.09 on Monday. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 2.05.
In other news, CEO Mark Pruzanski sold 1,532 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $58.87, for a total value of $90,188.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lisa Bright sold 253 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $111.31, for a total transaction of $28,161.43. Following the completion of the transaction, the insider now owns 23,324 shares of the company’s stock, valued at approximately $2,596,194.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,069 shares of company stock valued at $325,974. Corporate insiders own 4.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. raised its stake in shares of Intercept Pharmaceuticals by 9.5% in the 3rd quarter. Alps Advisors Inc. now owns 24,720 shares of the biopharmaceutical company’s stock valued at $1,435,000 after buying an additional 2,147 shares in the last quarter. Birchview Capital LP acquired a new position in shares of Intercept Pharmaceuticals in the 3rd quarter valued at $250,000. IFP Advisors Inc raised its stake in shares of Intercept Pharmaceuticals by 90.9% in the 3rd quarter. IFP Advisors Inc now owns 2,482 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 1,182 shares in the last quarter. Rothschild Investment Corp IL raised its stake in shares of Intercept Pharmaceuticals by 22.0% in the 3rd quarter. Rothschild Investment Corp IL now owns 5,846 shares of the biopharmaceutical company’s stock valued at $339,000 after buying an additional 1,054 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Intercept Pharmaceuticals by 4.5% in the 3rd quarter. First Trust Advisors LP now owns 300,455 shares of the biopharmaceutical company’s stock valued at $17,438,000 after buying an additional 13,044 shares in the last quarter. Institutional investors own 82.69% of the company’s stock.
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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