Intercept Pharmaceuticals (ICPT) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Intercept Pharmaceuticals (NASDAQ:ICPT) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $113.00 price target on the biopharmaceutical company’s stock.

According to Zacks, “Intercept’s third-quarter results were encouraging, with the company beating on both top and bottom-lines.  Sales had earlier taken a hit due to the safety issues regarding Ocaliva. Nevertheless, management’s efforts to increase awareness about the updated level and promote Ocaliva, thereafter, is reaping results. Solid growth in new patient enrollment should lead to stronger sales in the fourth quarter. Moreover, the company is looking to expand the drug’s label in the promising NASH space. However, we are also concerned about the lack of other late-stage candidates in the company’s pipeline. Shares have outperformed the industry in the year so far.”

Several other research firms also recently weighed in on ICPT. ValuEngine downgraded shares of Intercept Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, August 2nd. BidaskClub raised shares of Intercept Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Tuesday, October 2nd. Laidlaw downgraded shares of Intercept Pharmaceuticals from a buy rating to a hold rating and boosted their price target for the stock from $90.00 to $95.00 in a research note on Friday, August 3rd. Roth Capital started coverage on shares of Intercept Pharmaceuticals in a research note on Wednesday, September 12th. They issued a buy rating and a $192.00 price target for the company. Finally, Cantor Fitzgerald set a $69.00 price target on shares of Intercept Pharmaceuticals and gave the stock a hold rating in a research note on Thursday, August 2nd. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $140.53.

Shares of NASDAQ ICPT traded down $3.86 during mid-day trading on Tuesday, reaching $96.85. 2,943 shares of the company were exchanged, compared to its average volume of 513,405. Intercept Pharmaceuticals has a 52 week low of $51.05 and a 52 week high of $133.74. The company has a debt-to-equity ratio of 3.83, a quick ratio of 5.98 and a current ratio of 5.98. The company has a market capitalization of $2.99 billion, a P/E ratio of -6.74 and a beta of -1.08.

Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its quarterly earnings data on Wednesday, October 31st. The biopharmaceutical company reported ($2.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.65) by $0.47. The company had revenue of $47.00 million during the quarter, compared to the consensus estimate of $48.24 million. Intercept Pharmaceuticals had a negative net margin of 202.93% and a negative return on equity of 645.54%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.89) EPS. As a group, analysts forecast that Intercept Pharmaceuticals will post -10 EPS for the current fiscal year.

In other Intercept Pharmaceuticals news, insider David Shapiro sold 759 shares of the business’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $110.65, for a total value of $83,983.35. Following the transaction, the insider now owns 39,152 shares in the company, valued at $4,332,168.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 11,101 shares of company stock worth $1,177,128 in the last 90 days. Corporate insiders own 4.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Strs Ohio purchased a new position in shares of Intercept Pharmaceuticals in the third quarter valued at about $126,000. Chicago Equity Partners LLC purchased a new position in shares of Intercept Pharmaceuticals in the third quarter valued at about $215,000. GWM Advisors LLC purchased a new position in shares of Intercept Pharmaceuticals in the third quarter valued at about $220,000. Tocqueville Asset Management L.P. purchased a new position in shares of Intercept Pharmaceuticals in the second quarter valued at about $252,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in shares of Intercept Pharmaceuticals in the second quarter valued at about $264,000. Hedge funds and other institutional investors own 69.90% of the company’s stock.

About Intercept Pharmaceuticals

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).

Further Reading: Book Value Per Share – BVPS

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