Needham & Company LLC restated their hold rating on shares of Intercept Pharmaceuticals (NASDAQ:ICPT) in a research report report published on Wednesday morning.
Several other equities analysts have also recently commented on the stock. BidaskClub cut shares of Intercept Pharmaceuticals from a buy rating to a hold rating in a research report on Friday, October 19th. ValuEngine cut shares of Intercept Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Monday, October 8th. Oppenheimer set a $100.00 target price on shares of Intercept Pharmaceuticals and gave the stock a hold rating in a research report on Monday, October 8th. Raymond James cut shares of Intercept Pharmaceuticals from a strong-buy rating to an outperform rating and lifted their target price for the stock from $126.00 to $141.00 in a research report on Tuesday, October 2nd. They noted that the move was a valuation call. Finally, Cantor Fitzgerald reissued an overweight rating and set a $170.00 target price on shares of Intercept Pharmaceuticals in a research report on Monday, October 1st. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $139.88.
Shares of Intercept Pharmaceuticals stock traded up $3.69 during mid-day trading on Wednesday, hitting $109.55. 740,430 shares of the stock were exchanged, compared to its average volume of 503,371. Intercept Pharmaceuticals has a 12 month low of $51.05 and a 12 month high of $133.74.
Intercept Pharmaceuticals (NASDAQ:ICPT) last posted its earnings results on Wednesday, October 31st. The biopharmaceutical company reported ($2.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.65) by $0.47. The firm had revenue of $47.00 million for the quarter, compared to the consensus estimate of $48.24 million. During the same period in the prior year, the business earned ($2.89) EPS. Intercept Pharmaceuticals’s quarterly revenue was up 13.8% compared to the same quarter last year.
In related news, insider David Shapiro sold 759 shares of Intercept Pharmaceuticals stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $110.65, for a total value of $83,983.35. Following the sale, the insider now owns 39,152 shares of the company’s stock, valued at approximately $4,332,168.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 11,101 shares of company stock worth $1,177,128 in the last ninety days. 4.90% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. purchased a new position in Intercept Pharmaceuticals in the 3rd quarter valued at approximately $3,727,000. Advisory Services Network LLC purchased a new position in Intercept Pharmaceuticals in the 3rd quarter valued at approximately $439,000. Smith Asset Management Group LP purchased a new position in Intercept Pharmaceuticals in the 3rd quarter valued at approximately $370,000. Chicago Equity Partners LLC purchased a new position in Intercept Pharmaceuticals in the 3rd quarter valued at approximately $215,000. Finally, GWM Advisors LLC purchased a new position in Intercept Pharmaceuticals in the 3rd quarter valued at approximately $220,000. Institutional investors and hedge funds own 69.27% 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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