BNP Paribas Arbitrage SA reduced its stake in shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) by 16.7% during the first quarter, Holdings Channel reports. The institutional investor owned 12,389 shares of the biopharmaceutical company’s stock after selling 2,490 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Intercept Pharmaceuticals were worth $762,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. US Bancorp DE grew its stake in shares of Intercept Pharmaceuticals by 821.6% during the first quarter. US Bancorp DE now owns 1,751 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 1,561 shares during the last quarter. DSC Advisors L.P. bought a new position in shares of Intercept Pharmaceuticals during the fourth quarter valued at about $204,000. Amalgamated Bank bought a new position in shares of Intercept Pharmaceuticals during the fourth quarter valued at about $209,000. Virtu Financial LLC bought a new position in shares of Intercept Pharmaceuticals during the fourth quarter valued at about $234,000. Finally, Aperio Group LLC bought a new stake in shares of Intercept Pharmaceuticals in the first quarter worth about $316,000. 66.27% of the stock is currently owned by hedge funds and other institutional investors.
In other Intercept Pharmaceuticals news, CEO Mark Pruzanski bought 7,812 shares of the stock in a transaction dated Monday, April 9th. The stock was purchased at an average cost of $64.00 per share, for a total transaction of $499,968.00. Following the completion of the acquisition, the chief executive officer now owns 11,642 shares of the company’s stock, valued at $745,088. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Keith Michael Gottesdiener bought 1,171 shares of the stock in a transaction dated Monday, April 9th. The shares were acquired at an average price of $64.00 per share, with a total value of $74,944.00. Following the completion of the acquisition, the director now directly owns 5,001 shares of the company’s stock, valued at approximately $320,064. The disclosure for this purchase can be found here. Insiders acquired 399,608 shares of company stock valued at $25,574,912 over the last 90 days. 4.90% of the stock is currently owned by company insiders.
ICPT has been the topic of several recent analyst reports. BidaskClub raised Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. Wedbush reissued a “buy” rating and issued a $203.00 target price on shares of Intercept Pharmaceuticals in a research note on Friday, May 11th. Cowen reissued a “buy” rating and issued a $88.00 target price on shares of Intercept Pharmaceuticals in a research note on Wednesday, May 9th. Oppenheimer reissued a “hold” rating on shares of Intercept Pharmaceuticals in a research note on Tuesday, May 8th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $58.00 target price on shares of Intercept Pharmaceuticals in a research note on Tuesday, May 8th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $125.05.
Shares of ICPT opened at $84.82 on Wednesday. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of -6.88. Intercept Pharmaceuticals Inc has a one year low of $51.05 and a one year high of $135.59. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -5.90 and a beta of -1.78.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($3.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.41) by $0.19. Intercept Pharmaceuticals had a negative net margin of 241.33% and a negative return on equity of 573.64%. The business had revenue of $35.96 million during the quarter, compared to analyst estimates of $38.44 million. During the same period last year, the business posted ($3.61) earnings per share. Intercept Pharmaceuticals’s quarterly revenue was up 70.9% compared to the same quarter last year. sell-side analysts predict that Intercept Pharmaceuticals Inc will post -11.43 EPS for the current fiscal year.
Intercept Pharmaceuticals Profile
Intercept Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the United States, Europe, and Canada. Its lead product candidate is obeticholic acid (OCA), a bile acid analog, which has a structure based on a naturally occurring human bile acid that selectively binds to and activates the farnesoid X receptor (FXR).
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