Wedbush reaffirmed their outperform rating on shares of Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) in a report released on Friday. Wedbush currently has a $239.00 price target on the biopharmaceutical company’s stock.
A number of other research firms have also recently commented on ICPT. Wells Fargo & Co. reissued a buy rating on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 28th. Robert W. Baird reissued an outperform rating and set a $332.00 target price on shares of Intercept Pharmaceuticals in a research report on Thursday, September 22nd. Credit Suisse Group AG reissued a buy rating on shares of Intercept Pharmaceuticals in a research report on Thursday, September 22nd. FBR & Co reaffirmed a market perform rating and issued a $200.00 price target on shares of Intercept Pharmaceuticals in a report on Thursday, August 18th. Finally, JMP Securities reaffirmed a buy rating on shares of Intercept Pharmaceuticals in a report on Thursday, August 18th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. Intercept Pharmaceuticals has an average rating of Hold and an average target price of $177.67.
Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) traded up 1.9762% on Friday, reaching $155.7584. 78,053 shares of the company’s stock traded hands. Intercept Pharmaceuticals has a 52 week low of $89.76 and a 52 week high of $217.99. The stock’s market capitalization is $3.85 billion. The company has a 50 day moving average of $157.61 and a 200-day moving average of $150.68.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($3.14) EPS for the quarter, topping analysts’ consensus estimates of ($3.69) by $0.55. Intercept Pharmaceuticals had a negative net margin of 5,003.95% and a negative return on equity of 50.58%. The business had revenue of $5.52 million for the quarter, compared to analysts’ expectations of $1.72 million. During the same period in the previous year, the company posted ($1.99) earnings per share. The business’s revenue for the quarter was up 1140.4% compared to the same quarter last year. Equities research analysts forecast that Intercept Pharmaceuticals will post ($16.31) earnings per share for the current year.
In related news, CEO Mark Pruzanski sold 705 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $163.20, for a total value of $115,056.00. Following the completion of the transaction, the chief executive officer now owns 552,020 shares in the company, valued at approximately $90,089,664. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lisa Bright sold 246 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $159.00, for a total transaction of $39,114.00. Following the completion of the transaction, the insider now owns 18,460 shares of the company’s stock, valued at approximately $2,935,140. The disclosure for this sale can be found here. 9.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Mizuho Securities USA Inc. acquired a new stake in shares of Intercept Pharmaceuticals during the second quarter worth $984,000. Bellevue Group AG acquired a new stake in shares of Intercept Pharmaceuticals during the first quarter worth $1,734,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Intercept Pharmaceuticals during the first quarter worth $1,675,000. Legal & General Group Plc increased its stake in shares of Intercept Pharmaceuticals by 15.8% in the first quarter. Legal & General Group Plc now owns 1,144 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 156 shares during the last quarter. Finally, National Planning Corp increased its stake in shares of Intercept Pharmaceuticals by 92.7% in the first quarter. National Planning Corp now owns 50,510 shares of the biopharmaceutical company’s stock worth $6,735,000 after buying an additional 24,305 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.
About Intercept Pharmaceuticals
Intercept Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat non-viral, progressive liver diseases. The Company’s product candidates have the potential to treat orphan and more prevalent diseases for which there are limited therapeutic solutions.
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