Royal Bank of Canada Reaffirms “Buy” Rating for Intercept Pharmaceuticals (NASDAQ:ICPT)

Royal Bank of Canada reaffirmed their buy rating on shares of Intercept Pharmaceuticals (NASDAQ:ICPT) in a research report report published on Thursday, AnalystRatings.com reports. Royal Bank of Canada currently has a $135.00 price objective on the biopharmaceutical company’s stock.

A number of other analysts have also recently issued reports on the company. Wells Fargo & Co raised Intercept Pharmaceuticals from a market perform rating to an outperform rating and set a $90.02 price objective for the company in a research report on Thursday, May 2nd. Cantor Fitzgerald reduced their price objective on Intercept Pharmaceuticals from $191.00 to $186.00 and set an overweight rating for the company in a research report on Thursday. Cowen reissued a buy rating and set a $149.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, May 8th. B. Riley reissued a buy rating and set a $169.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, May 8th. Finally, Oppenheimer reduced their price objective on Intercept Pharmaceuticals from $170.00 to $160.00 and set an outperform rating for the company in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. Intercept Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $139.00.

Shares of Intercept Pharmaceuticals stock traded up $1.15 during midday trading on Thursday, hitting $67.20. The company’s stock had a trading volume of 584,186 shares, compared to its average volume of 684,206. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -6.19 and a beta of 1.32. The company’s 50-day simple moving average is $71.50. The company has a debt-to-equity ratio of 19.41, a current ratio of 3.72 and a quick ratio of 3.72. Intercept Pharmaceuticals has a 1-year low of $58.21 and a 1-year high of $133.74.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($2.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.51) by $0.23. The firm had revenue of $66.30 million during the quarter, compared to analysts’ expectations of $58.78 million. Intercept Pharmaceuticals had a negative return on equity of 1,572.61% and a negative net margin of 143.57%. The business’s revenue for the quarter was up 52.2% on a year-over-year basis. During the same quarter last year, the firm earned ($2.58) earnings per share. On average, analysts forecast that Intercept Pharmaceuticals will post -10.16 EPS for the current year.

In other Intercept Pharmaceuticals news, insider Lisa Bright sold 595 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $78.66, for a total transaction of $46,802.70. Following the transaction, the insider now directly owns 20,452 shares in the company, valued at $1,608,754.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Luca Benatti bought 1,200 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average price of $83.50 per share, for a total transaction of $100,200.00. Following the completion of the acquisition, the director now owns 7,556 shares of the company’s stock, valued at $630,926. The disclosure for this purchase can be found here. 5.00% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ICPT. Norges Bank bought a new position in Intercept Pharmaceuticals during the fourth quarter valued at about $28,428,000. First Trust Advisors LP increased its stake in shares of Intercept Pharmaceuticals by 21.2% in the second quarter. First Trust Advisors LP now owns 1,093,108 shares of the biopharmaceutical company’s stock worth $86,979,000 after purchasing an additional 191,132 shares during the period. Jennison Associates LLC bought a new position in shares of Intercept Pharmaceuticals in the first quarter worth about $20,777,000. Emerald Advisers LLC bought a new position in shares of Intercept Pharmaceuticals in the first quarter worth about $13,515,000. Finally, Federated Investors Inc. PA increased its stake in shares of Intercept Pharmaceuticals by 530.3% in the first quarter. Federated Investors Inc. PA now owns 140,565 shares of the biopharmaceutical company’s stock worth $15,724,000 after purchasing an additional 118,264 shares during the period. Institutional investors own 76.25% of the company’s stock.

About Intercept Pharmaceuticals

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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Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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