Tributary Capital Management LLC Acquires 3,000 Shares of Intercept Pharmaceuticals Inc (ICPT)
Tributary Capital Management LLC raised its holdings in Intercept Pharmaceuticals Inc (NASDAQ:ICPT) by 33.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,000 shares of the biopharmaceutical company’s stock after purchasing an additional 3,000 shares during the period. Tributary Capital Management LLC’s holdings in Intercept Pharmaceuticals were worth $1,516,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of ICPT. Tocqueville Asset Management L.P. acquired a new position in shares of Intercept Pharmaceuticals in the second quarter valued at approximately $252,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Intercept Pharmaceuticals in the second quarter valued at approximately $264,000. United Services Automobile Association acquired a new position in shares of Intercept Pharmaceuticals in the second quarter valued at approximately $280,000. Xact Kapitalforvaltning AB acquired a new position in shares of Intercept Pharmaceuticals in the second quarter valued at approximately $282,000. Finally, Creative Planning acquired a new position in shares of Intercept Pharmaceuticals in the second quarter valued at approximately $314,000. 69.38% of the stock is owned by institutional investors and hedge funds.
In related news, insider David Shapiro sold 4,917 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $111.43, for a total transaction of $547,901.31. Following the completion of the transaction, the insider now owns 42,196 shares of the company’s stock, valued at $4,701,900.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 9,101 shares of company stock valued at $984,488 in the last ninety days. 4.90% of the stock is currently owned by company insiders.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($2.58) EPS for the quarter, topping the consensus estimate of ($2.83) by $0.25. Intercept Pharmaceuticals had a negative net margin of 215.30% and a negative return on equity of 614.15%. The firm had revenue of $43.58 million during the quarter, compared to analyst estimates of $41.26 million. During the same quarter in the prior year, the business posted ($3.46) earnings per share. Intercept Pharmaceuticals’s revenue for the quarter was up 41.1% compared to the same quarter last year. On average, equities analysts forecast that Intercept Pharmaceuticals Inc will post -10.56 EPS for the current fiscal year.
ICPT has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $170.00 price objective on shares of Intercept Pharmaceuticals in a research report on Monday, October 1st. Goldman Sachs Group raised shares of Intercept Pharmaceuticals from a “sell” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $157.00 in a research report on Monday, August 6th. Roth Capital initiated coverage on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 12th. They issued a “buy” rating and a $192.00 price objective for the company. BidaskClub raised shares of Intercept Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 4th. Finally, ValuEngine lowered shares of Intercept Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Intercept Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $139.88.
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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