Wedbush Reiterates Outperform Rating for Intercept Pharmaceuticals Inc. (ICPT)

Wedbush reiterated their outperform rating on shares of Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) in a report released on Friday morning. The brokerage currently has a $224.00 price objective on the biopharmaceutical company’s stock.

Several other research firms have also 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 restated an outperform rating and set a $332.00 price objective on shares of Intercept Pharmaceuticals in a report on Thursday, September 22nd. Credit Suisse Group AG restated a buy rating on shares of Intercept Pharmaceuticals in a report on Thursday, September 22nd. FBR & Co restated a market perform rating and set a $200.00 price objective on shares of Intercept Pharmaceuticals in a report on Thursday, August 18th. Finally, JMP Securities restated a buy rating on shares of Intercept Pharmaceuticals in a report on Thursday, August 18th. Five analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $177.07.

Shares of Intercept Pharmaceuticals (NASDAQ:ICPT) opened at 110.19 on Friday. Intercept Pharmaceuticals has a 12-month low of $89.76 and a 12-month high of $186.87. The firm’s market capitalization is $2.73 billion. The stock has a 50 day moving average price of $132.61 and a 200 day moving average price of $146.93.

Intercept Pharmaceuticals (NASDAQ:ICPT) last released its quarterly earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($3.59) EPS for the quarter, topping the consensus estimate of ($3.82) by $0.23. The firm had revenue of $4.70 million for the quarter, compared to analyst estimates of $4.77 million. Intercept Pharmaceuticals had a negative return on equity of 66.97% and a negative net margin of 3,287.95%. Intercept Pharmaceuticals’s revenue for the quarter was up 1051.1% on a year-over-year basis. During the same period in the previous year, the company posted ($2.10) EPS. Equities analysts anticipate that Intercept Pharmaceuticals will post ($15.70) earnings per share for the current fiscal year.

In other Intercept Pharmaceuticals news, CMO David Shapiro sold 411 shares of the business’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $153.34, for a total transaction of $63,022.74. Following the completion of the transaction, the chief marketing officer now owns 44,272 shares in the company, valued at approximately $6,788,668.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa Bright sold 246 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $159.00, for a total value of $39,114.00. Following 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. Company insiders own 9.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ICPT. Public Employees Retirement Association of Colorado raised its position in shares of Intercept Pharmaceuticals by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 4,075 shares of the biopharmaceutical company’s stock worth $581,000 after buying an additional 14 shares during the period. Wedbush Securities Inc. raised its stake in shares of Intercept Pharmaceuticals by 1.5% in the third quarter. Wedbush Securities Inc. now owns 2,295 shares of the biopharmaceutical company’s stock valued at $378,000 after buying an additional 35 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Intercept Pharmaceuticals by 3.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 1,234 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 38 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of Intercept Pharmaceuticals by 1.2% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 4,350 shares of the biopharmaceutical company’s stock valued at $621,000 after buying an additional 50 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Intercept Pharmaceuticals by 4.5% in the second quarter. Legal & General Group Plc now owns 1,196 shares of the biopharmaceutical company’s stock valued at $171,000 after buying an additional 52 shares during the period. Institutional investors own 80.73% 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.

5 Day Chart for NASDAQ:ICPT

Receive News & Ratings for Intercept Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercept Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2016 Mideast Time.