Schwab Charles Investment Management Inc. increased its holdings in Intercept Pharmaceuticals Inc (NASDAQ:ICPT) by 18.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,249 shares of the biopharmaceutical company’s stock after acquiring an additional 8,471 shares during the period. Schwab Charles Investment Management Inc. owned about 0.18% of Intercept Pharmaceuticals worth $3,338,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of ICPT. Sarissa Capital Management LP acquired a new stake in shares of Intercept Pharmaceuticals in the 4th quarter worth about $10,649,000. Two Sigma Investments LP bought a new stake in Intercept Pharmaceuticals in the 4th quarter worth about $5,979,000. Altrinsic Global Advisors LLC grew its position in Intercept Pharmaceuticals by 33.4% in the 4th quarter. Altrinsic Global Advisors LLC now owns 310,300 shares of the biopharmaceutical company’s stock worth $18,128,000 after purchasing an additional 77,756 shares in the last quarter. LPL Financial LLC bought a new stake in Intercept Pharmaceuticals in the 4th quarter worth about $4,464,000. Finally, Trexquant Investment LP bought a new stake in Intercept Pharmaceuticals in the 1st quarter worth about $2,291,000. Institutional investors own 66.28% of the company’s stock.
ICPT has been the subject of a number of recent analyst reports. ValuEngine raised shares of Intercept Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 4th. Wedbush reduced their price objective on shares of Intercept Pharmaceuticals from $203.00 to $256.00 and set an “outperform” rating for the company in a research report on Tuesday, April 17th. BidaskClub raised shares of Intercept Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, April 18th. Oppenheimer reaffirmed a “hold” rating on shares of Intercept Pharmaceuticals in a research report on Tuesday, March 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intercept Pharmaceuticals in a research report on Wednesday, March 28th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $124.90.
In other Intercept Pharmaceuticals news, major shareholder Francesco Micheli acquired 390,625 shares of the business’s stock in a transaction that occurred on Monday, April 9th. The stock was bought at an average cost of $64.00 per share, with a total value of $25,000,000.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Pruzanski acquired 7,812 shares of the business’s stock in a transaction that occurred on Monday, April 9th. The stock was acquired at an average cost of $64.00 per share, with a total value of $499,968.00. Following the completion of the acquisition, the chief executive officer now owns 11,642 shares in the company, valued at approximately $745,088. The disclosure for this purchase can be found here. Insiders have bought a total of 399,608 shares of company stock valued at $25,574,912 over the last three months. Insiders own 4.90% of the company’s stock.
Intercept Pharmaceuticals stock opened at $83.91 on Friday. Intercept Pharmaceuticals Inc has a twelve month low of $51.05 and a twelve month high of $135.59. 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 (NASDAQ:ICPT) last released its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($3.22) earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $35.96 million during the quarter, compared to the consensus estimate of $38.44 million. During the same period in the prior year, the firm earned ($3.61) EPS. The company’s revenue was up 70.9% compared to the same quarter last year. analysts forecast that Intercept Pharmaceuticals Inc will post -11.43 EPS for the current fiscal year.
About Intercept Pharmaceuticals
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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