Zacks Investment Research cut shares of Intercept Pharmaceuticals (NASDAQ:ICPT) from a hold rating to a sell rating in a research note issued to investors on Tuesday, January 9th.
According to Zacks, “Intercept is facing challenges with its lead drug Ocaliva. Prescription demand has softened following the Dear Health Care Provider letter and the FDA safety communication on Ocaliva. Recently, some deaths have been reported in PBC patients with moderate or severe hepatic impairment (Child Pugh B or C cirrhosis). However, Intercept conducted an analysis and concluded that these patients were prescribed once daily doses of Ocaliva, which is seven times higher than the recommended weekly dose. The company concluded that deaths occurred due to overdosing. Consequently, Intercept issued the Dear Healthcare Provider letter. Thereafter, the FDA issued their own safety communication to reinforce recommended label dosing. Shares have underperformed the industry in the last six months. Meanwhile, Intercept is evaluating Ocaliva for other indications including NASH and PSC.A label expansion will bode well.”
Several other brokerages have also issued reports on ICPT. BMO Capital Markets restated an outperform rating and set a $221.00 target price on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Robert W. Baird restated an outperform rating and set a $332.00 target price on shares of Intercept Pharmaceuticals in a research report on Wednesday, September 13th. Jefferies Group reiterated a buy rating and issued a $275.00 price target on shares of Intercept Pharmaceuticals in a report on Wednesday, September 13th. Cantor Fitzgerald reiterated an underweight rating and issued a $69.00 price target on shares of Intercept Pharmaceuticals in a report on Wednesday, September 13th. Finally, Wells Fargo & Co reiterated an outperform rating on shares of Intercept Pharmaceuticals in a report on Wednesday, September 13th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $134.86.
Intercept Pharmaceuticals (NASDAQ:ICPT) opened at $62.10 on Tuesday. Intercept Pharmaceuticals has a 52-week low of $51.53 and a 52-week high of $135.59. The company has a debt-to-equity ratio of 3.15, a current ratio of 5.95 and a quick ratio of 5.95. The company has a market capitalization of $1,560.00, a PE ratio of -4.20 and a beta of -2.05.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($2.89) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.48) by $0.59. Intercept Pharmaceuticals had a negative return on equity of 176.51% and a negative net margin of 344.74%. The company had revenue of $41.33 million for the quarter, compared to analysts’ expectations of $36.95 million. During the same period in the previous year, the firm posted ($3.59) earnings per share. The firm’s revenue for the quarter was up 697.9% on a year-over-year basis. sell-side analysts predict that Intercept Pharmaceuticals will post -13.42 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of ICPT. WFG Advisors LP increased its holdings in Intercept Pharmaceuticals by 16.4% in the 2nd quarter. WFG Advisors LP now owns 888 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 125 shares during the last quarter. IFP Advisors Inc increased its holdings in Intercept Pharmaceuticals by 90.9% in the 3rd quarter. IFP Advisors Inc now owns 2,482 shares of the biopharmaceutical company’s stock valued at $144,000 after purchasing an additional 1,182 shares during the last quarter. SG Americas Securities LLC purchased a new position in Intercept Pharmaceuticals in the 2nd quarter valued at approximately $235,000. QCM Cayman Ltd. purchased a new position in Intercept Pharmaceuticals in the 2nd quarter valued at approximately $237,000. Finally, Birchview Capital LP purchased a new position in Intercept Pharmaceuticals in the 3rd quarter valued at approximately $250,000. Hedge funds and other institutional investors own 73.74% of the company’s stock.
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Intercept Pharmaceuticals Company Profile
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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