Intercept Pharmaceuticals (NASDAQ:ICPT) Cut to “Hold” at BidaskClub

BidaskClub lowered shares of Intercept Pharmaceuticals (NASDAQ:ICPT) from a buy rating to a hold rating in a research report released on Saturday morning, BidAskClub reports.

A number of other research firms have also recently commented on ICPT. Zacks Investment Research cut shares of Intercept Pharmaceuticals from a buy rating to a hold rating and set a $63.00 price objective for the company. in a research report on Monday, October 14th. Wedbush reaffirmed a buy rating and set a $257.00 price objective on shares of Intercept Pharmaceuticals in a research report on Wednesday, December 18th. Citigroup cut shares of Intercept Pharmaceuticals from a buy rating to a neutral rating and lifted their price objective for the stock from $85.00 to $140.00 in a research report on Thursday, January 2nd. Canaccord Genuity assumed coverage on shares of Intercept Pharmaceuticals in a research report on Monday, December 2nd. They set a buy rating for the company. Finally, Wells Fargo & Co reissued an overweight rating and set a $146.00 target price (up previously from $120.00) on shares of Intercept Pharmaceuticals in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $141.65.

ICPT stock opened at $100.74 on Friday. The company has a debt-to-equity ratio of 4.02, a current ratio of 5.49 and a quick ratio of 5.49. The company has a fifty day moving average price of $115.85 and a two-hundred day moving average price of $82.22. Intercept Pharmaceuticals has a one year low of $56.76 and a one year high of $131.87. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -9.27 and a beta of 1.50.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($2.59) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.35) by ($0.24). Intercept Pharmaceuticals had a negative return on equity of 495.47% and a negative net margin of 143.09%. The company had revenue of $61.95 million for the quarter, compared to the consensus estimate of $63.89 million. During the same period last year, the firm earned ($2.18) earnings per share. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. Research analysts anticipate that Intercept Pharmaceuticals will post -10.3 EPS for the current fiscal year.

In related news, insider Jason Campagna sold 732 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $113.02, for a total value of $82,730.64. Following the completion of the transaction, the insider now owns 6,303 shares of the company’s stock, valued at $712,365.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Pruzanski sold 35,437 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $100.00, for a total value of $3,543,700.00. Following the completion of the transaction, the chief executive officer now directly owns 469,165 shares of the company’s stock, valued at approximately $46,916,500. The disclosure for this sale can be found here. Insiders have sold 58,752 shares of company stock valued at $5,698,563 in the last three months. Insiders own 5.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its stake in Intercept Pharmaceuticals by 200.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 300 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in Intercept Pharmaceuticals by 33.3% in the fourth quarter. Kistler Tiffany Companies LLC now owns 400 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. Larson Financial Group LLC raised its stake in Intercept Pharmaceuticals by 2,916.7% in the third quarter. Larson Financial Group LLC now owns 543 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 525 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Intercept Pharmaceuticals in the third quarter valued at about $36,000. Finally, First Mercantile Trust Co. acquired a new position in Intercept Pharmaceuticals in the third quarter valued at about $37,000. 79.20% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Intercept Pharmaceuticals (NASDAQ:ICPT)

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