ValuEngine upgraded shares of Intercept Pharmaceuticals (NASDAQ:ICPT) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.
Several other analysts have also issued reports on the company. Roth Capital began coverage on Intercept Pharmaceuticals in a research note on Wednesday, September 12th. They issued a buy rating and a $192.00 target price on the stock. Royal Bank of Canada lowered Intercept Pharmaceuticals from an outperform rating to a sector perform rating and set a $244.00 target price on the stock. in a research note on Wednesday, August 15th. They noted that the move was a valuation call. Wedbush set a $217.00 target price on Intercept Pharmaceuticals and gave the company a buy rating in a research note on Sunday, August 12th. Zacks Investment Research lowered Intercept Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, August 7th. Finally, Goldman Sachs Group upgraded Intercept Pharmaceuticals from a sell rating to a buy rating and boosted their target price for the company from $46.00 to $157.00 in a research note on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $126.91.
Shares of ICPT opened at $120.47 on Thursday. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -8.38 and a beta of -1.72. The company has a debt-to-equity ratio of 2.48, a quick ratio of 6.51 and a current ratio of 6.51. Intercept Pharmaceuticals has a 1 year low of $51.05 and a 1 year high of $124.40.
Intercept Pharmaceuticals (NASDAQ:ICPT) last issued its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($2.58) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.83) by $0.25. The firm had revenue of $43.58 million for the quarter, compared to analyst estimates of $41.26 million. Intercept Pharmaceuticals had a negative return on equity of 614.15% and a negative net margin of 215.30%. The business’s revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the company posted ($3.46) earnings per share. research analysts anticipate that Intercept Pharmaceuticals will post -10.83 earnings per share for the current fiscal year.
In related news, insider David Shapiro sold 4,917 shares of the business’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $111.43, for a total transaction of $547,901.31. Following the sale, the insider now directly owns 42,196 shares in the company, valued at approximately $4,701,900.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. US Bancorp DE grew its position in Intercept Pharmaceuticals by 821.6% during the first quarter. US Bancorp DE now owns 1,751 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 1,561 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new position in Intercept Pharmaceuticals during the second quarter worth about $252,000. Sheaff Brock Investment Advisors LLC purchased a new position in Intercept Pharmaceuticals during the second quarter worth about $264,000. Opus Point Partners Management LLC grew its position in Intercept Pharmaceuticals by 19.0% during the first quarter. Opus Point Partners Management LLC now owns 4,496 shares of the biopharmaceutical company’s stock worth $277,000 after buying an additional 717 shares in the last quarter. Finally, United Services Automobile Association purchased a new position in Intercept Pharmaceuticals during the second quarter worth about $280,000. Institutional investors own 69.39% of the company’s stock.
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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