Intercept Pharmaceuticals Inc (NASDAQ:ICPT) – Equities researchers at Wedbush lifted their FY2023 EPS estimates for Intercept Pharmaceuticals in a note issued to investors on Monday, August 12th. Wedbush analyst L. Moussatos now expects that the biopharmaceutical company will post earnings per share of $35.17 for the year, up from their previous forecast of $34.79. Wedbush has a “Buy” rating and a $243.00 price objective on the stock.
Intercept Pharmaceuticals (NASDAQ:ICPT) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($2.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.51) by $0.23. Intercept Pharmaceuticals had a negative net margin of 143.57% and a negative return on equity of 1,572.61%. The business had revenue of $66.30 million during the quarter, compared to analysts’ expectations of $58.78 million. During the same period last year, the business earned ($2.58) earnings per share. The business’s revenue for the quarter was up 52.2% on a year-over-year basis.
Shares of ICPT opened at $64.64 on Wednesday. Intercept Pharmaceuticals has a 1-year low of $58.21 and a 1-year high of $133.74. The stock has a market cap of $2.15 billion, a PE ratio of -5.95 and a beta of 1.32. The firm has a 50-day simple moving average of $69.81 and a two-hundred day simple moving average of $90.38. The company has a debt-to-equity ratio of 19.41, a current ratio of 3.72 and a quick ratio of 3.72.
Institutional investors have recently modified their holdings of the stock. Stifel Financial Corp bought a new position in shares of Intercept Pharmaceuticals in the fourth quarter valued at approximately $228,000. Principal Financial Group Inc. grew its holdings in shares of Intercept Pharmaceuticals by 147.2% in the fourth quarter. Principal Financial Group Inc. now owns 19,914 shares of the biopharmaceutical company’s stock valued at $2,007,000 after acquiring an additional 11,858 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Intercept Pharmaceuticals by 5.2% in the fourth quarter. Legal & General Group Plc now owns 9,313 shares of the biopharmaceutical company’s stock valued at $939,000 after acquiring an additional 464 shares in the last quarter. Norges Bank bought a new position in shares of Intercept Pharmaceuticals in the fourth quarter valued at approximately $28,428,000. Finally, Geode Capital Management LLC grew its holdings in shares of Intercept Pharmaceuticals by 9.3% in the fourth quarter. Geode Capital Management LLC now owns 259,886 shares of the biopharmaceutical company’s stock valued at $26,193,000 after acquiring an additional 22,059 shares in the last quarter. Institutional investors own 77.24% of the company’s stock.
In related news, insider Lisa Bright sold 595 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $78.66, for a total value of $46,802.70. Following the completion of the transaction, the insider now owns 20,452 shares in the company, valued at $1,608,754.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.00% of the stock is owned by insiders.
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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